Royal London Asset Management Ltd. Grows Stock Holdings in UDR, Inc. (NYSE:UDR)

Royal London Asset Management Ltd. raised its stake in UDR, Inc. (NYSE:UDR) by 0.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 160,778 shares of the real estate investment trust’s stock after buying an additional 1,019 shares during the quarter. Royal London Asset Management Ltd.’s holdings in UDR were worth $7,290,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in UDR by 4,436.2% in the 3rd quarter. International Assets Investment Management LLC now owns 44,228 shares of the real estate investment trust’s stock valued at $2,005,000 after purchasing an additional 43,253 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in UDR by 1,665.3% in the third quarter. Los Angeles Capital Management LLC now owns 369,448 shares of the real estate investment trust’s stock valued at $16,751,000 after purchasing an additional 348,520 shares during the last quarter. MQS Management LLC purchased a new position in shares of UDR in the third quarter valued at $712,000. Millennium Management LLC raised its stake in shares of UDR by 115.3% during the 2nd 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 during the last quarter. Finally, BSN CAPITAL PARTNERS Ltd purchased a new stake in shares of UDR in the 3rd quarter worth about $10,987,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on UDR shares. The Goldman Sachs Group started coverage on shares of UDR in a report on Wednesday, September 4th. They set a “sell” rating and a $42.00 target price for the company. Wells Fargo & Company lifted their price objective on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Royal Bank of Canada lowered their target price on UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a report on Tuesday, November 5th. Evercore ISI boosted their price target on UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a report on Monday, September 9th. Finally, Scotiabank reduced their price objective on UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $45.18.

UDR Stock Performance

NYSE:UDR opened at $44.84 on Monday. The company has a market cap of $14.80 billion, a P/E ratio of 121.19, a P/E/G ratio of 12.44 and a beta of 0.87. The firm’s 50 day moving average is $44.40 and its two-hundred day moving average is $42.78. UDR, Inc. has a fifty-two week low of $34.19 and a fifty-two week high of $47.55. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, October 10th. UDR’s payout ratio is currently 459.47%.

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.