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

UDR, Inc. (NYSE:UDR) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 4,670,000 shares, a decline 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 short-interest ratio is presently 2.3 days.

UDR Trading Down 0.8 %

NYSE UDR traded down $0.35 during trading on Friday, hitting $44.47. The company had a trading volume of 1,283,922 shares, compared to its average volume of 1,515,888. 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 has a one year low of $34.19 and a one year high of $47.55. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 120.19, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87. The company’s fifty day moving average is $44.37 and its 200-day moving average is $42.96.

UDR Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Inspire Trust Co. N.A. increased its stake in shares of UDR by 12.3% in the 3rd quarter. Inspire Trust Co. N.A. now owns 27,415 shares of the real estate investment trust’s stock worth $1,243,000 after acquiring an additional 3,000 shares in the last quarter. Tidal Investments LLC increased its stake in shares of UDR by 25.5% in the 3rd quarter. Tidal Investments LLC now owns 18,053 shares of the real estate investment trust’s stock worth $819,000 after acquiring an additional 3,665 shares in the last quarter. Unigestion Holding SA bought a new position in shares of UDR in the 3rd quarter worth about $533,000. Toronto Dominion Bank increased its stake in shares of UDR by 68.4% in the 3rd quarter. Toronto Dominion Bank now owns 149,826 shares of the real estate investment trust’s stock worth $6,793,000 after acquiring an additional 60,839 shares in the last quarter. Finally, Continuum Advisory LLC increased its stake in shares of UDR by 5,335.3% in the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 907 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on UDR shares. Royal Bank of Canada cut their price objective on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 5th. Truist Financial upped their price objective on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company upped their price objective on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $45.19.

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.