OVERSEA CHINESE BANKING Corp Ltd Takes Position in UDR, Inc. (NYSE:UDR)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of UDR, Inc. (NYSE:UDR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 143,816 shares of the real estate investment trust’s stock, valued at approximately $6,521,000.

Several other institutional investors have also recently made changes to their positions in UDR. Capital Research Global Investors purchased a new position in UDR in the first quarter valued at about $176,137,000. Millennium Management LLC boosted its holdings in UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after acquiring an additional 1,874,096 shares in the last quarter. Centersquare Investment Management LLC lifted its holdings in shares of UDR by 17.7% during the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after purchasing an additional 1,433,463 shares during the period. PGGM Investments lifted its holdings in shares of UDR by 38.2% during the first quarter. PGGM Investments now owns 3,211,724 shares of the real estate investment trust’s stock worth $120,151,000 after purchasing an additional 887,060 shares during the period. Finally, Lasalle Investment Management Securities LLC raised its position in UDR by 64.6% during the first quarter. Lasalle Investment Management Securities LLC now owns 1,447,425 shares of the real estate investment trust’s stock valued at $54,148,000 after acquiring an additional 567,878 shares in the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Up 0.4 %

UDR opened at $44.65 on Tuesday. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 120.68, a P/E/G ratio of 9.72 and a beta of 0.85. UDR, Inc. has a 1-year low of $31.94 and a 1-year high of $47.55. The business has a 50 day moving average of $44.62 and a 200-day moving average of $41.90. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69.

UDR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is presently 459.46%.

Analyst Ratings Changes

Several brokerages recently commented on UDR. Piper Sandler boosted their price target on UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. BMO Capital Markets raised UDR from a “market perform” rating to an “outperform” rating and upped their price target for the company from $39.00 to $45.00 in a research note on Monday, July 15th. JPMorgan Chase & Co. upped their price target on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Wells Fargo & Company raised their target price on UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 26th. Finally, UBS Group upped their target price on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $45.24.

UDR Profile

UDR, Inc (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S.