Edgestream Partners L.P. Acquires 24,596 Shares of UDR, Inc. (NYSE:UDR)

Edgestream Partners L.P. lifted its holdings in UDR, Inc. (NYSE:UDR - Free Report) by 58.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,994 shares of the real estate investment trust's stock after purchasing an additional 24,596 shares during the period. Edgestream Partners L.P.'s holdings in UDR were worth $3,038,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in UDR in the 2nd quarter valued at about $26,000. Activest Wealth Management acquired a new stake in UDR in the third quarter valued at approximately $27,000. UMB Bank n.a. purchased a new position in UDR in the second quarter worth approximately $33,000. Brooklyn Investment Group acquired a new position in UDR during the 3rd quarter worth approximately $33,000. Finally, Rothschild Investment LLC purchased a new stake in shares of UDR in the 2nd quarter valued at approximately $35,000. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Price Performance

NYSE:UDR traded down $0.55 during midday trading on Monday, hitting $45.31. 1,997,965 shares of the stock were exchanged, compared to its average volume of 2,472,863. The company has a market capitalization of $14.95 billion, a price-to-earnings ratio of 122.46, a P/E/G ratio of 12.72 and a beta of 0.85. 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, Inc. has a one year low of $33.99 and a one year high of $47.55. The business has a 50-day moving average price of $44.45 and a two-hundred day moving average price of $42.63.

UDR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.75%. The ex-dividend date was Thursday, October 10th. UDR's dividend payout ratio is 459.46%.

Wall Street Analysts Forecast Growth

UDR has been the topic of a number of analyst reports. Piper Sandler raised their price target on UDR from $40.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped their price target on UDR from $40.00 to $44.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Wedbush increased their price target on shares of UDR from $45.00 to $49.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Truist Financial boosted their price objective on shares of UDR from $44.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, August 26th. Finally, UBS Group lifted their price target on shares of UDR from $48.00 to $52.00 and gave the stock a "buy" rating in a research note on Thursday, September 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $45.18.

UDR Company 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.