JPMorgan Chase & Co. Buys 368,087 Shares of UDR, Inc. (NYSE:UDR)

JPMorgan Chase & Co. lifted its stake in shares of UDR, Inc. (NYSE:UDR) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,774,541 shares of the real estate investment trust’s stock after purchasing an additional 368,087 shares during the quarter. JPMorgan Chase & Co. owned about 2.36% of UDR worth $352,498,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its stake in shares of UDR by 10.0% in the third quarter. CWM LLC now owns 3,802 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 347 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of UDR by 7.1% in the third quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 350 shares during the last quarter. Mather Group LLC. boosted its holdings in UDR by 58.2% during the third quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 367 shares during the last quarter. Truist Financial Corp grew its position in UDR by 0.6% in the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock worth $2,744,000 after purchasing an additional 414 shares in the last quarter. Finally, TCV Trust & Wealth Management Inc. boosted its stake in shares of UDR by 8.2% in the 3rd quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 424 shares during the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Price Performance

Shares of UDR stock opened at $43.41 on Monday. The stock has a market capitalization of $14.32 billion, a P/E ratio of 117.33, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87. 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 business’s 50 day simple moving average is $44.25 and its two-hundred day simple moving average is $43.30. UDR, Inc. has a one year low of $34.19 and a one year high of $47.55.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 9th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.92%. UDR’s dividend payout ratio is presently 459.46%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price target for the company. Barclays initiated coverage on UDR in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $50.00 price objective on the stock. Evercore ISI boosted their target price on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their price target on UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Royal Bank of Canada lowered their price objective on UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $46.00.

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.