Activest Wealth Management Purchases New Shares in UDR, Inc. (NYSE:UDR)

Activest Wealth Management acquired a new position in shares of UDR, Inc. (NYSE:UDR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 600 shares of the real estate investment trust’s stock, valued at approximately $27,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its position in UDR by 2,250.3% during the first quarter. Bessemer Group Inc. now owns 37,416 shares of the real estate investment trust’s stock valued at $1,399,000 after buying an additional 35,824 shares during the period. Natixis lifted its position in UDR by 22.0% in the 1st quarter. Natixis now owns 33,071 shares of the real estate investment trust’s stock worth $1,237,000 after buying an additional 5,966 shares in the last quarter. Capital Research Global Investors acquired a new stake in shares of UDR during the 1st quarter valued at $176,137,000. Canada Pension Plan Investment Board grew its holdings in shares of UDR by 2.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,906,297 shares of the real estate investment trust’s stock valued at $108,725,000 after acquiring an additional 76,000 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of UDR in the first quarter worth $301,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UDR has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. BNP Paribas started coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 target price for the company. The Goldman Sachs Group initiated coverage on shares of UDR in a research note on Wednesday, September 4th. They set a “sell” rating and a $42.00 price target on the stock. UBS Group upped their price objective on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Truist Financial boosted their price target on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, UDR has an average rating of “Hold” and an average target price of $45.18.

UDR Price Performance

Shares of UDR stock opened at $44.81 on Friday. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 121.11, a P/E/G ratio of 12.35 and a beta of 0.85. 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 stock’s fifty day simple moving average is $44.54 and its 200 day simple moving average is $42.26. UDR, Inc. has a one year low of $32.85 and a one year high of $47.55.

UDR Dividend Announcement

The firm 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 3.79%. The ex-dividend date was Thursday, October 10th. UDR’s payout ratio is presently 459.47%.

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.