Carronade Capital Management LP Increases Position in UDR, Inc. (NYSE:UDR)

Carronade Capital Management LP grew its holdings in shares of UDR, Inc. (NYSE:UDR - Free Report) by 5.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 194,852 shares of the real estate investment trust's stock after purchasing an additional 9,611 shares during the period. UDR makes up approximately 0.5% of Carronade Capital Management LP's holdings, making the stock its 18th largest position. Carronade Capital Management LP owned approximately 0.06% of UDR worth $8,459,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of UDR by 68.7% in the fourth 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. Salem Investment Counselors Inc. raised its holdings in UDR by 62.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust's stock worth $59,000 after buying an additional 520 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of UDR in the fourth quarter worth approximately $63,000. Eastern Bank purchased a new stake in shares of UDR during the fourth quarter valued at approximately $68,000. Finally, Crews Bank & Trust bought a new stake in shares of UDR during the fourth quarter valued at approximately $76,000. 97.84% of the stock is owned by institutional investors.

UDR Trading Up 2.8 %

UDR stock opened at $43.80 on Monday. UDR, Inc. has a 12-month low of $36.61 and a 12-month high of $47.55. The firm has a market capitalization of $14.50 billion, a price-to-earnings ratio of 175.18, a P/E/G ratio of 8.67 and a beta of 0.78. The firm has a 50 day moving average of $42.69 and a 200 day moving average of $43.05. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71.

UDR (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.61. UDR had a net margin of 5.36% and a return on equity of 2.65%. The firm had revenue of $419.84 million during the quarter, compared to analysts' expectations of $421.23 million. During the same period in the prior year, the company posted $0.61 earnings per share. The company's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were issued a $0.43 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This is a boost from UDR's previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a yield of 3.93%. UDR's payout ratio is currently 688.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. StockNews.com upgraded UDR from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their target price on UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Friday, February 7th. Evercore ISI raised their price target on shares of UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Barclays decreased their price objective on shares of UDR from $50.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, January 24th. Finally, Mizuho dropped their target price on shares of UDR from $47.00 to $45.00 and set a "neutral" rating on the stock in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.12.

Insiders Place Their Bets

In other news, CEO Thomas W. Toomey sold 25,000 shares of UDR stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction 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. This trade represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 3.39% of the stock is currently owned by corporate insiders.

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.

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