Verition Fund Management LLC Has $10.16 Million Position in UDR, Inc. (NYSE:UDR)

Verition Fund Management LLC trimmed its stake in shares of UDR, Inc. (NYSE:UDR) by 40.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,131 shares of the real estate investment trust’s stock after selling 155,033 shares during the quarter. Verition Fund Management LLC owned approximately 0.07% of UDR worth $10,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its stake in shares of UDR by 10.0% during the third quarter. CWM LLC now owns 3,802 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 347 shares during the last quarter. Empowered Funds LLC grew its position in UDR by 7.1% during the 3rd quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 350 shares during the last quarter. Mather Group LLC. increased its holdings in UDR by 58.2% in the 3rd quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 367 shares in the last quarter. Truist Financial Corp increased its holdings in UDR by 0.6% in the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock worth $2,744,000 after purchasing an additional 414 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its stake in shares of UDR by 8.2% during the third quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 424 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on UDR. UBS Group upped their price objective on UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Piper Sandler raised their price target on shares of UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. StockNews.com cut shares of UDR from a “hold” rating to a “sell” rating in a research note on Tuesday, November 19th. Evercore ISI raised their target price on UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research report on Monday, September 9th. Finally, Scotiabank reduced their price target on UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.18.

UDR Stock Performance

NYSE:UDR opened at $45.86 on Friday. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. UDR, Inc. has a twelve month low of $33.02 and a twelve month high of $47.55. The company has a fifty day moving average of $44.47 and a 200-day moving average of $42.57. The firm has a market capitalization of $15.13 billion, a P/E ratio of 123.95, a P/E/G ratio of 12.72 and a beta of 0.85.

UDR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.71%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is currently 459.47%.

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.