Bank of New York Mellon Corp Sells 96,736 Shares of UDR, Inc. (NYSE:UDR)

Bank of New York Mellon Corp trimmed its position in UDR, Inc. (NYSE:UDR) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,284,668 shares of the real estate investment trust’s stock after selling 96,736 shares during the period. Bank of New York Mellon Corp owned 0.69% of UDR worth $99,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in UDR. Activest Wealth Management purchased a new stake in shares of UDR in the third quarter worth $27,000. Brooklyn Investment Group purchased a new stake in shares of UDR in the 3rd quarter valued at about $33,000. Continuum Advisory LLC raised its holdings in shares of UDR by 5,335.3% in the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 907 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of UDR by 62.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 520 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of UDR during the fourth quarter worth about $63,000. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UDR has been the topic of a number of recent analyst reports. Scotiabank raised their target price on shares of UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Wells Fargo & Company dropped their price objective on shares of UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, January 24th. Barclays cut their target price on shares of UDR from $50.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Zelman & Associates restated a “neutral” rating on shares of UDR in a research report on Thursday, February 13th. Finally, Evercore ISI upped their price objective on UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.18.

UDR Trading Up 1.9 %

NYSE:UDR opened at $45.17 on Friday. The firm has a market capitalization of $14.96 billion, a P/E ratio of 180.69, a P/E/G ratio of 8.67 and a beta of 0.88. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. The company has a fifty day moving average of $42.32 and a 200 day moving average of $43.68. UDR, Inc. has a 52 week low of $34.99 and a 52 week high of $47.55.

UDR (NYSE:UDR) last issued its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating the consensus estimate of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Thursday, January 9th were given a $0.425 dividend. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.76%. UDR’s dividend payout ratio is currently 680.00%.

Insider Transactions at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of UDR stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total value of $1,068,750.00. Following the sale, the chief executive officer now owns 824,716 shares in the company, valued at $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.73% 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.