JPMorgan Chase & Co. Grows Stake in UDR, Inc. (NYSE:UDR)

JPMorgan Chase & Co. lifted its stake in UDR, Inc. (NYSE:UDR) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.’s holdings in UDR were worth $352,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of UDR. Activest Wealth Management purchased a new position in UDR in the third quarter worth about $27,000. Brooklyn Investment Group purchased a new stake in UDR during the 3rd quarter valued at $33,000. UMB Bank n.a. purchased a new position in shares of UDR in the second quarter worth $33,000. Rothschild Investment LLC purchased a new stake in shares of UDR during the second quarter valued at $35,000. Finally, Quest Partners LLC purchased a new stake in shares of UDR during the second quarter valued at $37,000. Institutional investors own 97.84% of the company’s stock.

UDR Price Performance

Shares of UDR stock opened at $43.41 on Monday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91. The stock has a 50 day moving average price of $44.25 and a 200-day moving average price of $43.30. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 117.33, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87. UDR, Inc. has a one year low of $34.19 and a one year high of $47.55.

UDR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 9th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date of this dividend is Thursday, January 9th. UDR’s dividend payout ratio (DPR) is currently 459.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on UDR shares. JPMorgan Chase & Co. lifted their price target on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. The Goldman Sachs Group began coverage on UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price objective for the company. Royal Bank of Canada dropped 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. StockNews.com raised shares of UDR from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Finally, Evercore ISI raised their price objective on shares of UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

About UDR

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.