UDR, Inc. (NYSE:UDR) Sees Significant Increase in Short Interest

UDR, Inc. (NYSE:UDRGet Free Report) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 6,070,000 shares, a growth of 77.5% from the January 15th total of 3,420,000 shares. Based on an average daily trading volume, of 3,120,000 shares, the short-interest ratio is currently 1.9 days.

UDR Stock Up 1.0 %

Shares of NYSE UDR traded up $0.34 during mid-day trading on Monday, hitting $35.71. 1,386,644 shares of the stock traded hands, compared to its average volume of 3,335,004. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.43 and a current ratio of 1.12. UDR has a 52 week low of $30.95 and a 52 week high of $45.46. The company has a market cap of $11.75 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.37 and a beta of 0.81. The stock has a fifty day moving average price of $37.04 and a 200-day moving average price of $36.60.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Tuesday, January 9th. UDR’s dividend payout ratio (DPR) is presently 125.37%.

Insider Activity

In other UDR news, CEO Thomas W. Toomey sold 45,000 shares of the firm’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $37.90, for a total value of $1,705,500.00. Following the transaction, the chief executive officer now owns 939,716 shares in the company, valued at approximately $35,615,236.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.41% of the company’s stock.

Institutional Trading of UDR

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of UDR by 4.9% in the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock worth $2,904,527,000 after acquiring an additional 2,353,851 shares during the period. Norges Bank purchased a new stake in shares of UDR in the fourth quarter worth about $1,065,482,000. State Street Corp lifted its position in shares of UDR by 11.2% in the first quarter. State Street Corp now owns 22,969,937 shares of the real estate investment trust’s stock worth $943,146,000 after buying an additional 2,321,585 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of UDR by 30.1% in the first quarter. JPMorgan Chase & Co. now owns 13,691,188 shares of the real estate investment trust’s stock worth $562,157,000 after buying an additional 3,164,948 shares in the last quarter. Finally, FMR LLC lifted its position in shares of UDR by 3.4% in the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock worth $430,929,000 after buying an additional 394,581 shares in the last quarter. Institutional investors own 91.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on UDR shares. Piper Sandler cut UDR from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $46.00 to $30.00 in a research report on Tuesday, October 31st. Mizuho boosted their price target on UDR from $34.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. Wells Fargo & Company lowered UDR from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $42.50 to $34.00 in a research report on Tuesday, November 7th. Royal Bank of Canada dropped their price target on UDR from $39.00 to $37.00 and set a “sector perform” rating on the stock in a research report on Monday, October 30th. Finally, Bank of America downgraded UDR from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $33.00 in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $42.69.

View Our Latest Stock Analysis on UDR

UDR Company Profile

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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.

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