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

Millennium Management LLC reduced its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 42.0% in the 4th quarter, according to the company in its most recent 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 period. Millennium Management LLC owned 0.60% of UDR worth $85,910,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Focus Partners Wealth acquired a new stake in UDR during the 4th quarter worth about $2,364,000. Ensign Peak Advisors Inc grew its stake in UDR by 7.0% during the fourth quarter. Ensign Peak Advisors Inc now owns 106,704 shares of the real estate investment trust's stock worth $4,632,000 after purchasing an additional 6,971 shares during the period. Deutsche Bank AG lifted its stake in UDR by 56.6% in the fourth quarter. Deutsche Bank AG now owns 1,451,122 shares of the real estate investment trust's stock valued at $62,993,000 after buying an additional 524,623 shares during the period. Crestline Management LP acquired a new position in UDR in the fourth quarter valued at approximately $3,582,000. Finally, Captrust Financial Advisors boosted its holdings in shares of UDR by 9.3% during the 4th quarter. Captrust Financial Advisors now owns 21,139 shares of the real estate investment trust's stock worth $918,000 after buying an additional 1,794 shares in the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas W. Toomey sold 25,000 shares of the 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 completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.39% of the company's stock.

UDR Stock Down 0.4%

Shares of UDR stock traded down $0.16 on Tuesday, hitting $42.07. The stock had a trading volume of 243,827 shares, compared to its average volume of 2,133,187. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The business has a 50 day moving average of $42.19 and a 200 day moving average of $42.94. UDR, Inc. has a 12-month low of $36.61 and a 12-month high of $47.55. The stock has a market cap of $13.94 billion, a price-to-earnings ratio of 168.28, a price-to-earnings-growth ratio of 8.67 and a beta of 0.84.

UDR (NYSE:UDR - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 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 firm had revenue of $419.84 million during the quarter, compared to analyst estimates of $421.23 million. During the same quarter last year, the business posted $0.61 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts expect that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were given a dividend of $0.43 per share. The ex-dividend date was Thursday, April 10th. This is a positive change from UDR's previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a dividend yield of 4.09%. UDR's dividend payout ratio (DPR) is currently 491.43%.

Wall Street Analysts Forecast Growth

UDR has been the subject of several research analyst reports. Scotiabank lifted their price objective 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. Zelman & Associates reaffirmed a "neutral" rating on shares of UDR in a research note on Thursday, February 13th. StockNews.com raised UDR from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Barclays boosted their price objective on UDR from $48.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Evercore ISI lifted their price target on shares of UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, UDR has an average rating of "Hold" and an average target price of $46.69.

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.