Citigroup Inc. Reduces Stake in UDR, Inc. (NYSE:UDR)

Citigroup Inc. lessened its holdings in UDR, Inc. (NYSE:UDR - Free Report) by 27.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 300,506 shares of the real estate investment trust's stock after selling 115,477 shares during the quarter. Citigroup Inc. owned approximately 0.09% of UDR worth $13,625,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Securities USA LLC boosted its holdings in UDR by 8,460.5% during 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 acquiring an additional 1,976,637 shares during the last quarter. Millennium Management LLC lifted its position in shares of UDR by 115.3% during the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust's stock worth $143,990,000 after acquiring an additional 1,874,096 shares in the last quarter. Lasalle Investment Management Securities LLC grew its holdings in UDR by 64.6% during the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,447,425 shares of the real estate investment trust's stock valued at $54,148,000 after buying an additional 567,878 shares in the last quarter. APG Asset Management US Inc. purchased a new position in UDR during the second quarter valued at approximately $22,572,000. Finally, Los Angeles Capital Management LLC boosted its stake in UDR by 1,665.3% during the third quarter. Los Angeles Capital Management LLC now owns 369,448 shares of the real estate investment trust's stock valued at $16,751,000 after buying an additional 348,520 shares during the period. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Stock Performance

UDR stock traded down $0.48 during trading on Friday, reaching $45.85. The stock had a trading volume of 1,142,374 shares, compared to its average volume of 2,475,292. The stock's 50 day moving average is $44.47 and its two-hundred day moving average is $42.50. The firm has a market cap of $15.13 billion, a PE ratio of 125.22, a PEG ratio of 12.85 and a beta of 0.85. UDR, Inc. has a 52 week low of $33.02 and a 52 week high of $47.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69.

UDR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Thursday, October 10th. UDR's payout ratio is presently 459.47%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on UDR shares. Royal Bank of Canada dropped their target price on UDR from $46.00 to $45.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on UDR from $40.00 to $44.00 and gave the stock a "hold" rating in a report on Tuesday, September 10th. Wedbush boosted their price objective on shares of UDR from $45.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. UBS Group lifted their target price on shares of UDR from $48.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Finally, Evercore ISI upped their price target on UDR from $42.00 to $43.00 and gave the stock an "in-line" rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, UDR has an average rating of "Hold" and a consensus target price of $45.18.

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.