Van ECK Associates Corp Increases Stake in UDR, Inc. (NYSE:UDR)

Van ECK Associates Corp grew its holdings in shares of UDR, Inc. (NYSE:UDR - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,816 shares of the real estate investment trust's stock after purchasing an additional 11,838 shares during the quarter. Van ECK Associates Corp's holdings in UDR were worth $6,341,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in UDR. Fidelis Capital Partners LLC purchased a new stake in UDR in the first quarter valued at approximately $26,000. Family Firm Inc. purchased a new position in shares of UDR in the second quarter worth about $26,000. UMB Bank n.a. purchased a new position in UDR in the 2nd quarter worth approximately $33,000. Rothschild Investment LLC purchased a new stake in UDR during the 2nd quarter valued at $35,000. Finally, Quest Partners LLC purchased a new position in shares of UDR during the second quarter valued at approximately $37,000. Institutional investors own 97.84% of the company's stock.

UDR Trading Up 2.3 %

UDR stock traded up $0.98 during trading on Friday, hitting $44.52. The company had a trading volume of 862,524 shares, compared to its average volume of 2,506,143. 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 company's 50 day simple moving average is $44.62 and its 200-day simple moving average is $41.79. UDR, Inc. has a 1-year low of $31.87 and a 1-year high of $47.55. The stock has a market cap of $14.69 billion, a price-to-earnings ratio of 120.25, a price-to-earnings-growth ratio of 9.45 and a beta of 0.85.

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 was Thursday, October 10th. UDR's dividend payout ratio (DPR) is 459.47%.

Analyst Ratings Changes

UDR has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of UDR from $41.00 to $48.00 and gave the company an "overweight" rating in a report on Monday, August 26th. Piper Sandler boosted their target price on UDR from $40.00 to $46.00 and gave the stock a "neutral" rating in a research report on Monday, August 26th. Evercore ISI lifted their price objective on UDR from $42.00 to $43.00 and gave the stock an "in-line" rating in a research note on Monday, September 9th. Truist Financial raised their target price on shares of UDR from $44.00 to $47.00 and gave the company a "buy" rating in a report on Monday, August 26th. Finally, Scotiabank lifted their price objective on shares of UDR from $45.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.24.

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.