Diamond Hill Capital Management Inc. Reduces Stock Position in UDR, Inc. (NYSE:UDR)

Diamond Hill Capital Management Inc. trimmed its holdings in shares of UDR, Inc. (NYSE:UDR) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,453,892 shares of the real estate investment trust’s stock after selling 67,060 shares during the period. Diamond Hill Capital Management Inc.’s holdings in UDR were worth $65,919,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. purchased a new stake in UDR during the second quarter worth approximately $26,000. UMB Bank n.a. acquired a new stake in UDR during the second quarter worth approximately $33,000. Rothschild Investment LLC purchased a new stake in shares of UDR during the 2nd quarter worth approximately $35,000. Quest Partners LLC acquired a new position in shares of UDR in the 2nd quarter valued at $37,000. Finally, Blue Trust Inc. grew its position in shares of UDR by 1,018.3% in the 2nd quarter. Blue Trust Inc. now owns 1,040 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 947 shares during the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Stock Performance

NYSE:UDR opened at $44.48 on Monday. The firm’s fifty day simple moving average is $44.62 and its 200-day simple moving average is $41.87. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. The stock has a market cap of $14.68 billion, a PE ratio of 120.22, a price-to-earnings-growth ratio of 9.72 and a beta of 0.85. UDR, Inc. has a fifty-two week low of $31.87 and a fifty-two week high of $47.55.

UDR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.82%. UDR’s payout ratio is currently 459.47%.

Analyst Ratings Changes

Several equities analysts have issued reports on UDR shares. BMO Capital Markets upgraded shares of UDR from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $39.00 to $45.00 in a research note on Monday, July 15th. Truist Financial raised their price target on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. The Goldman Sachs Group initiated coverage on UDR in a research note on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Wells Fargo & Company increased their price target on shares of UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $45.24.

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.