Everence Capital Management Inc. Lowers Holdings in UDR, Inc. (NYSE:UDR)

Everence Capital Management Inc. reduced its holdings in shares of UDR, Inc. (NYSE:UDR) by 63.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,510 shares of the real estate investment trust’s stock after selling 9,370 shares during the period. Everence Capital Management Inc.’s holdings in UDR were worth $239,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in UDR. Los Angeles Capital Management LLC purchased a new stake in shares of UDR during the second quarter worth $861,000. Acadian Asset Management LLC acquired a new stake in UDR in the 2nd quarter valued at about $170,000. Quest Partners LLC purchased a new position in shares of UDR in the 2nd quarter valued at about $37,000. Prudential PLC acquired a new position in shares of UDR during the second quarter worth about $216,000. Finally, Royal London Asset Management Ltd. increased its stake in shares of UDR by 16.5% during the second quarter. Royal London Asset Management Ltd. now owns 159,759 shares of the real estate investment trust’s stock worth $6,574,000 after buying an additional 22,648 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UDR has been the subject of a number of recent research reports. BNP Paribas began coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target for the company. Barclays assumed coverage on shares of UDR in a research note on Tuesday, December 17th. They set an “overweight” rating and a $50.00 target price for the company. StockNews.com cut UDR from a “hold” rating to a “sell” rating in a research note on Thursday, January 2nd. Jefferies Financial Group cut UDR from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $50.00 to $45.00 in a research report on Thursday, January 2nd. Finally, Royal Bank of Canada cut their target price on UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $46.35.

UDR Price Performance

Shares of NYSE UDR opened at $41.20 on Thursday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91. UDR, Inc. has a one year low of $34.19 and a one year high of $47.55. The firm has a market capitalization of $13.59 billion, a P/E ratio of 111.35, a PEG ratio of 12.34 and a beta of 0.89. The company’s fifty day moving average is $43.98 and its two-hundred day moving average is $43.39.

UDR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 9th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.70 annualized dividend and a yield of 4.13%. UDR’s payout ratio is currently 459.46%.

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.