Geode Capital Management LLC Cuts Stock Position in UDR, Inc. (NYSE:UDR)

Geode Capital Management LLC decreased its stake in UDR, Inc. (NYSE:UDR - Free Report) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,703,858 shares of the real estate investment trust's stock after selling 27,983 shares during the period. Geode Capital Management LLC owned about 2.33% of UDR worth $348,168,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in UDR. Family Firm Inc. bought a new stake in UDR in the 2nd quarter worth approximately $26,000. Activest Wealth Management purchased a new stake in shares of UDR in the 3rd quarter valued at $27,000. UMB Bank n.a. purchased a new stake in shares of UDR in the 2nd quarter valued at $33,000. Brooklyn Investment Group bought a new position in shares of UDR during the 3rd quarter valued at $33,000. Finally, Rothschild Investment LLC purchased a new position in UDR in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 97.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on UDR. Piper Sandler raised their price objective on UDR from $40.00 to $46.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. StockNews.com upgraded UDR from a "sell" rating to a "hold" rating in a research report on Thursday. Evercore ISI lifted their price target on UDR from $42.00 to $43.00 and gave the stock an "in-line" rating in a research note on Monday, September 9th. Scotiabank dropped their price objective on UDR from $49.00 to $48.00 and set a "sector perform" rating for the company in a research note on Thursday, November 14th. Finally, BNP Paribas assumed coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $49.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, UDR has an average rating of "Hold" and an average price target of $45.19.

UDR Stock Down 0.8 %

Shares of NYSE:UDR traded down $0.35 during trading on Friday, hitting $44.47. The stock had a trading volume of 1,283,922 shares, compared to its average volume of 1,515,888. The company has a market capitalization of $14.67 billion, a PE ratio of 120.19, a PEG ratio of 12.34 and a beta of 0.87. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. The firm's fifty day moving average is $44.37 and its 200 day moving average is $42.93. UDR, Inc. has a 12 month low of $34.19 and a 12 month high of $47.55.

UDR Announces Dividend

The company 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 was Thursday, October 10th. This represents a $1.70 dividend on an annualized basis and a yield of 3.82%. UDR's dividend payout ratio (DPR) is 459.47%.

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.