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

Edgestream Partners L.P. grew its position in UDR, Inc. (NYSE:UDR) by 58.0% in the third quarter, HoldingsChannel.com reports. The firm owned 66,994 shares of the real estate investment trust’s stock after acquiring 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.

A number of other hedge funds have also modified their holdings of the company. Vinva Investment Management Ltd boosted its position in shares of UDR by 50.6% in the third quarter. Vinva Investment Management Ltd now owns 17,657 shares of the real estate investment trust’s stock worth $794,000 after purchasing an additional 5,935 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of UDR by 24.7% in the third quarter. Public Sector Pension Investment Board now owns 52,208 shares of the real estate investment trust’s stock worth $2,367,000 after buying an additional 10,349 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of UDR by 862.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,086,964 shares of the real estate investment trust’s stock worth $139,963,000 after buying an additional 2,766,172 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UDR by 1.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 239,626 shares of the real estate investment trust’s stock worth $10,865,000 after buying an additional 4,282 shares in the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of UDR in the third quarter worth $224,000. 97.84% of the stock is currently owned by institutional investors.

UDR Stock Down 1.0 %

Shares of UDR stock opened at $45.86 on Monday. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. UDR, Inc. has a 1 year low of $33.02 and a 1 year high of $47.55. The firm’s 50-day moving average is $44.47 and its two-hundred day moving average is $42.59. The stock has a market cap of $15.13 billion, a price-to-earnings ratio of 123.95, a PEG ratio of 12.72 and a beta of 0.85.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s payout ratio is 459.47%.

Wall Street Analyst Weigh In

Several research firms have recently commented on UDR. Royal Bank of Canada lowered their target price on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 5th. BNP Paribas started coverage on shares of UDR in a research note on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price target on the stock. Wells Fargo & Company upped their price target 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. Scotiabank decreased their price target on shares of UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 14th. Finally, UBS Group upped their price target on shares of UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.