Short Interest in UDR, Inc. (NYSE:UDR) Decreases By 21.8%

UDR, Inc. (NYSE:UDR) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 5,880,000 shares, a decline of 21.8% from the March 31st total of 7,520,000 shares. Based on an average trading volume of 2,910,000 shares, the days-to-cover ratio is currently 2.0 days.

UDR Stock Down 0.2 %

NYSE UDR traded down $0.06 during trading hours on Friday, hitting $37.91. The company’s stock had a trading volume of 2,117,561 shares, compared to its average volume of 2,635,260. The company has a market capitalization of $12.48 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.04 and a beta of 0.80. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR has a 52 week low of $30.95 and a 52 week high of $44.02. The company’s 50-day simple moving average is $36.73 and its two-hundred day simple moving average is $35.96.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.48%. This is an increase from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, April 9th. UDR’s payout ratio is currently 126.87%.

Institutional Trading of UDR

Several institutional investors and hedge funds have recently made changes to their positions in UDR. International Assets Investment Management LLC increased its stake in UDR by 3,730.9% in the 4th quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock valued at $1,430,000 after buying an additional 36,376 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in UDR by 79.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock worth $70,087,000 after purchasing an additional 809,273 shares during the last quarter. IFM Investors Pty Ltd grew its stake in UDR by 1.3% in the 4th quarter. IFM Investors Pty Ltd now owns 66,266 shares of the real estate investment trust’s stock valued at $2,537,000 after purchasing an additional 847 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of UDR by 7.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 6,108,077 shares of the real estate investment trust’s stock worth $233,878,000 after purchasing an additional 403,377 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in shares of UDR in the 3rd quarter worth about $1,088,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on UDR. Truist Financial lowered their price target on shares of UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. The Goldman Sachs Group initiated coverage on shares of UDR in a report on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 target price on the stock. UBS Group upgraded UDR from a “neutral” rating to a “buy” rating and increased their price target for the stock from $38.00 to $44.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a research note on Tuesday, January 30th. They issued a “hold” rating and a $40.00 price objective on the stock. Finally, Mizuho lowered their target price on UDR from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, February 28th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, UDR presently has an average rating of “Hold” and an average target price of $41.83.

About UDR

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.