Everence Capital Management Inc. Acquires 6,280 Shares of UDR, Inc. (NYSE:UDR)

Everence Capital Management Inc. increased its holdings in shares of UDR, Inc. (NYSE:UDR) by 73.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,880 shares of the real estate investment trust’s stock after purchasing an additional 6,280 shares during the quarter. Everence Capital Management Inc.’s holdings in UDR were worth $570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of UDR. Norges Bank bought a new position in shares of UDR during the fourth quarter valued at $913,594,000. JPMorgan Chase & Co. lifted its holdings in shares of UDR by 30.1% during the first quarter. JPMorgan Chase & Co. now owns 13,691,188 shares of the real estate investment trust’s stock valued at $562,157,000 after purchasing an additional 3,164,948 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of UDR by 4.9% during the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock valued at $2,904,527,000 after purchasing an additional 2,353,851 shares in the last quarter. State Street Corp lifted its holdings in shares of UDR by 11.2% during the first quarter. State Street Corp now owns 22,969,937 shares of the real estate investment trust’s stock valued at $943,146,000 after purchasing an additional 2,321,585 shares in the last quarter. Finally, Long Pond Capital LP bought a new position in shares of UDR during the fourth quarter valued at $73,433,000. 97.84% of the stock is owned by institutional investors.

UDR Stock Performance

NYSE:UDR opened at $35.34 on Thursday. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR, Inc. has a 12-month low of $30.95 and a 12-month high of $44.02. The stock has a 50-day moving average price of $36.49 and a 200 day moving average price of $35.89. The stock has a market capitalization of $11.64 billion, a P/E ratio of 26.37, a P/E/G ratio of 2.82 and a beta of 0.80.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.70 annualized dividend and a dividend yield of 4.81%. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio (DPR) is currently 126.87%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wells Fargo & Company raised UDR from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $34.00 to $39.00 in a report on Monday, March 4th. Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and increased their target price for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Barclays downgraded UDR from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. The Goldman Sachs Group initiated coverage on UDR in a report on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a report on Tuesday, January 30th. They issued a “hold” rating and a $40.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and an average price target of $41.71.

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.