UDR, Inc. (NYSE:UDR) Sees Large Drop in Short Interest

UDR, Inc. (NYSE:UDR) saw a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 4,670,000 shares, a decrease of 20.4% from the November 15th total of 5,870,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the days-to-cover ratio is presently 2.3 days.

UDR Stock Performance

Shares of NYSE UDR traded down $0.35 during midday trading on Friday, hitting $44.47. The company’s stock had a trading volume of 1,283,922 shares, compared to its average volume of 1,515,888. The stock has a fifty day moving average price of $44.37 and a 200 day moving average price of $42.96. UDR has a one year low of $34.19 and a one year high of $47.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of 120.19, a P/E/G ratio of 12.34 and a beta of 0.87.

UDR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is presently 459.47%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on UDR shares. Truist Financial increased their target price on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Royal Bank of Canada cut their target price on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 5th. Scotiabank cut their target price on shares of UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. StockNews.com raised shares of UDR from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. increased their target price on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, UDR has a consensus rating of “Hold” and a consensus target price of $45.19.

Institutional Trading of UDR

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC increased its holdings in UDR by 14.8% during the 3rd quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust’s stock worth $516,923,000 after acquiring an additional 1,471,855 shares during the period. Daiwa Securities Group Inc. grew its stake in UDR by 2.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 7,109,980 shares of the real estate investment trust’s stock worth $322,366,000 after buying an additional 159,625 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in UDR by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock worth $194,737,000 after buying an additional 103,384 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in UDR by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,272,032 shares of the real estate investment trust’s stock worth $193,694,000 after buying an additional 117,213 shares in the last quarter. Finally, Millennium Management LLC grew its stake in UDR by 115.3% in the 2nd quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after buying an additional 1,874,096 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

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.