OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 143,816 UDR, Inc. (NYSE:UDR)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in UDR, Inc. (NYSE:UDR) in the 3rd quarter, HoldingsChannel reports. The fund purchased 143,816 shares of the real estate investment trust’s stock, valued at approximately $6,521,000.

Several other large investors have also added to or reduced their stakes in UDR. Capital Research Global Investors bought a new position in shares of UDR in the first quarter valued at approximately $176,137,000. Millennium Management LLC grew its position in UDR by 115.3% during the second 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. Centersquare Investment Management LLC lifted its stake in UDR by 17.7% during the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after purchasing an additional 1,433,463 shares during the last quarter. PGGM Investments lifted its stake in shares of UDR by 38.2% in the 1st quarter. PGGM Investments now owns 3,211,724 shares of the real estate investment trust’s stock valued at $120,151,000 after acquiring an additional 887,060 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC lifted its stake in shares of UDR by 64.6% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,447,425 shares of the real estate investment trust’s stock valued at $54,148,000 after acquiring an additional 567,878 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

UDR Price Performance

Shares of NYSE:UDR opened at $44.65 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. The firm has a market capitalization of $14.73 billion, a P/E ratio of 120.68, a P/E/G ratio of 9.72 and a beta of 0.85. UDR, Inc. has a 12 month low of $31.94 and a 12 month high of $47.55. The company’s fifty day moving average price is $44.62 and its 200 day moving average price is $41.90.

UDR Announces Dividend

The business also recently disclosed 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 3.81%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio is currently 459.46%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on UDR. UBS Group upped their price target on UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Wedbush raised their price target on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. StockNews.com lowered UDR from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Finally, Piper Sandler boosted their price objective on shares of UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $45.24.

UDR 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.