Millennium Management LLC Cuts Position in UDR, Inc. (NYSE:UDR)

Millennium Management LLC lessened its position in UDR, Inc. (NYSE:UDR) by 42.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,979,029 shares of the real estate investment trust’s stock after selling 1,435,481 shares during the quarter. Millennium Management LLC owned 0.60% of UDR worth $85,910,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in UDR. Townsquare Capital LLC raised its holdings in shares of UDR by 4.8% during the 4th quarter. Townsquare Capital LLC now owns 5,173 shares of the real estate investment trust’s stock valued at $225,000 after buying an additional 237 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of UDR by 8.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,330 shares of the real estate investment trust’s stock worth $145,000 after acquiring an additional 269 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of UDR by 68.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 491 shares during the last quarter. IRON Financial LLC boosted its stake in shares of UDR by 3.0% in the 4th quarter. IRON Financial LLC now owns 17,674 shares of the real estate investment trust’s stock valued at $767,000 after purchasing an additional 511 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings 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 purchasing an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Stock Down 1.3%

Shares of NYSE UDR opened at $41.12 on Thursday. The firm has a fifty day simple moving average of $42.28 and a two-hundred day simple moving average of $42.96. UDR, Inc. has a 12 month low of $36.61 and a 12 month high of $47.55. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $13.62 billion, a PE ratio of 164.48, a price-to-earnings-growth ratio of 8.67 and a beta of 0.84.

UDR (NYSE:UDR) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. UDR had a net margin of 5.36% and a return on equity of 2.65%. The company had revenue of $419.84 million for the quarter, compared to analysts’ expectations of $421.23 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. UDR’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts expect that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were given a $0.43 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.18%. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s dividend payout ratio is currently 491.43%.

Analysts Set New Price Targets

Several analysts have weighed in on UDR shares. Wells Fargo & Company lowered their price target on shares of UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. StockNews.com raised UDR from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Barclays increased their target price on UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Scotiabank boosted their price objective on UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Finally, Zelman & Associates reissued a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $46.69.

Insider Transactions at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 824,716 shares of the company’s stock, valued at $35,256,609. This represents a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.39% of the company’s stock.

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.