Bank of New York Mellon Corp Cuts Stock Holdings in UDR, Inc. (NYSE:UDR)

Bank of New York Mellon Corp decreased its position in UDR, Inc. (NYSE:UDR - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,284,668 shares of the real estate investment trust's stock after selling 96,736 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of UDR worth $99,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in UDR by 862.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,086,964 shares of the real estate investment trust's stock worth $139,963,000 after acquiring an additional 2,766,172 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of UDR by 8,460.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,000 shares of the real estate investment trust's stock worth $90,680,000 after purchasing an additional 1,976,637 shares during the period. FMR LLC increased its position in UDR by 14.8% during the third quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust's stock valued at $516,923,000 after acquiring an additional 1,471,855 shares during the last quarter. JPMorgan Chase & Co. raised its position in UDR by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust's stock worth $352,498,000 after purchasing an additional 368,087 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of UDR by 1,665.3% in the third quarter. Los Angeles Capital Management LLC now owns 369,448 shares of the real estate investment trust's stock worth $16,751,000 after buying an additional 348,520 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Zelman & Associates reiterated a "neutral" rating on shares of UDR in a research report on Thursday, February 13th. Royal Bank of Canada raised their price objective on UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. Evercore ISI increased their price target on UDR from $43.00 to $45.00 and gave the stock an "in-line" rating in a research report on Monday, February 10th. Wells Fargo & Company dropped their target price on UDR from $48.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. Finally, Jefferies Financial Group cut UDR from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $50.00 to $45.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, UDR presently has an average rating of "Hold" and an average target price of $46.18.

UDR Price Performance

Shares of NYSE UDR traded down $0.17 during trading on Wednesday, hitting $45.22. The company had a trading volume of 3,171,824 shares, compared to its average volume of 2,065,801. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. UDR, Inc. has a fifty-two week low of $35.14 and a fifty-two week high of $47.55. The firm has a market capitalization of $14.97 billion, a price-to-earnings ratio of 180.88, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. The stock has a fifty day simple moving average of $42.44 and a two-hundred day simple moving average of $43.76.

UDR (NYSE:UDR - Get Free Report) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating analysts' consensus estimates 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 expect that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 9th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend was Friday, January 10th. UDR's dividend payout ratio (DPR) is currently 680.00%.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now owns 824,716 shares of the company's stock, valued at $35,256,609. This represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.73% of the company's stock.

UDR Company 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.