UDR, Inc. (NYSE:UDR) Short Interest Down 21.8% in April

UDR, Inc. (NYSE:UDR - Get Free Report) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 5,880,000 shares, a drop of 21.8% from the March 31st total of 7,520,000 shares. Based on an average daily volume of 2,910,000 shares, the days-to-cover ratio is presently 2.0 days.

UDR Stock Down 0.2 %

Shares of NYSE UDR traded down $0.06 during midday trading on Friday, hitting $37.91. The stock had a trading volume of 2,117,561 shares, compared to its average volume of 2,635,260. The business's 50 day moving average is $36.73 and its 200-day moving average is $35.96. The company has a market cap of $12.48 billion, a P/E ratio of 28.29, a PEG ratio of 3.04 and a beta of 0.80. UDR has a 52 week low of $30.95 and a 52 week high of $44.02. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Tuesday, April 9th. This is an increase from UDR's previous quarterly dividend of $0.42. UDR's dividend payout ratio is currently 126.87%.

Analysts Set New Price Targets

A number of equities analysts recently commented on UDR shares. Morgan Stanley reiterated an "equal weight" rating and issued a $37.00 target price on shares of UDR in a research report on Monday, February 26th. Piper Sandler raised shares of UDR from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $34.00 to $40.00 in a report on Wednesday, April 10th. Barclays lowered shares of UDR from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $46.00 to $37.00 in a report on Tuesday, February 20th. Mizuho cut their target price on shares of UDR from $38.00 to $35.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of UDR in a research note on Tuesday, January 30th. They set a "hold" rating and a $40.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, UDR presently has a consensus rating of "Hold" and a consensus target price of $41.83.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in UDR during the fourth quarter valued at approximately $1,065,482,000. Cohen & Steers Inc. raised its position in UDR by 3.8% in the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust's stock worth $1,025,351,000 after acquiring an additional 984,807 shares during the period. FMR LLC raised its position in UDR by 3.4% in the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust's stock worth $430,929,000 after acquiring an additional 394,581 shares during the period. Centersquare Investment Management LLC raised its position in UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust's stock worth $310,807,000 after acquiring an additional 2,145,242 shares during the period. Finally, Daiwa Securities Group Inc. raised its position in UDR by 7.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 6,108,077 shares of the real estate investment trust's stock worth $233,878,000 after acquiring an additional 403,377 shares during the period. 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.