UDR, Inc. (NYSE:UDR) Short Interest Update

UDR, Inc. (NYSE:UDR) saw a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 6,920,000 shares, an increase of 21.2% from the May 15th total of 5,710,000 shares. Based on an average trading volume of 2,510,000 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Mizuho upped their price objective on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Wells Fargo & Company increased their price objective on shares of UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Wedbush boosted their price objective on shares of UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Scotiabank increased their target price on UDR from $39.00 to $42.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 14th. Finally, Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $34.00 to $40.00 in a research report on Wednesday, April 10th. Eleven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.65.

UDR Stock Performance

Shares of NYSE:UDR traded up $0.37 on Friday, hitting $40.28. 1,984,895 shares of the company were exchanged, compared to its average volume of 1,935,728. The firm has a market capitalization of $13.26 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 8.82 and a beta of 0.81. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. UDR has a 1-year low of $30.95 and a 1-year high of $44.02. The stock’s 50 day moving average price is $38.36 and its 200 day moving average price is $37.29.

UDR Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.70 dividend on an annualized basis and a yield of 4.22%. UDR’s dividend payout ratio is currently 123.19%.

Insider Activity at UDR

In other news, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the transaction, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the sale, the senior vice president now owns 8,566 shares in the company, valued at $326,964.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the completion of the transaction, the chief executive officer now directly owns 849,716 shares in the company, valued at approximately $33,580,776.32. The disclosure for this sale can be found here. 3.73% of the stock is owned by company insiders.

Institutional Trading of UDR

Several large investors have recently added to or reduced their stakes in UDR. Principal Securities Inc. acquired a new stake in shares of UDR in the fourth quarter worth $26,000. Fidelis Capital Partners LLC acquired a new stake in UDR during the 1st quarter worth about $26,000. Quest Partners LLC purchased a new position in shares of UDR during the 4th quarter valued at about $27,000. Parkside Financial Bank & Trust raised its stake in shares of UDR by 225.7% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 754 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of UDR by 87.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 669 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

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.