Quarry LP Cuts Stock Holdings in UDR, Inc. (NYSE:UDR)

Quarry LP reduced its position in shares of UDR, Inc. (NYSE:UDR - Free Report) by 74.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,707 shares of the real estate investment trust's stock after selling 7,716 shares during the quarter. Quarry LP's holdings in UDR were worth $118,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in UDR in the fourth quarter valued at approximately $1,273,442,000. Capital Research Global Investors raised its stake in UDR by 64.1% in the 4th quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust's stock worth $566,940,000 after purchasing an additional 5,101,668 shares in the last quarter. Invesco Ltd. boosted its stake in shares of UDR by 92.0% in the fourth quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust's stock valued at $327,104,000 after buying an additional 3,609,925 shares during the period. FMR LLC increased its position in shares of UDR by 10.5% in the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock worth $546,639,000 after purchasing an additional 1,191,432 shares during the period. Finally, Waterfront Capital Partners LLC bought a new stake in shares of UDR during the 4th quarter worth approximately $26,742,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UDR has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of UDR from $43.00 to $44.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. Zelman & Associates reiterated a "neutral" rating on shares of UDR in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on UDR from $48.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Evercore ISI increased their price target on UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a research note on Monday, February 10th. Finally, Scotiabank lifted their price objective on UDR from $48.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $46.12.

Insider Buying and Selling at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were 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 approximately $35,256,609. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.39% of the company's stock.

UDR Stock Up 2.8 %

Shares of NYSE UDR traded up $1.20 during trading on Friday, hitting $43.80. 2,128,682 shares of the company traded hands, compared to its average volume of 2,153,953. 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 business's fifty day moving average is $42.69 and its 200 day moving average is $43.07. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. UDR, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $47.55.

UDR (NYSE:UDR - Get Free Report) 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, hitting the consensus estimate of $0.61. UDR had a return on equity of 2.65% and a net margin of 5.36%. The business had revenue of $419.84 million for the quarter, compared to analyst estimates of $421.23 million. During the same quarter in the prior year, the company earned $0.61 earnings per share. The company's quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts predict that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Increases Dividend

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

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.