UDR, Inc. (NYSE:UDR) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its position in shares of UDR, Inc. (NYSE:UDR) by 115.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,499,150 shares of the real estate investment trust’s stock after buying an additional 1,874,096 shares during the quarter. Millennium Management LLC’s holdings in UDR were worth $143,990,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in UDR. Vanguard Group Inc. grew its position in shares of UDR by 0.5% during the first quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after acquiring an additional 233,475 shares during the last quarter. Cohen & Steers Inc. boosted its stake in UDR by 3.8% during the 4th quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock worth $1,025,351,000 after purchasing an additional 984,807 shares during the period. Centersquare Investment Management LLC grew its position in UDR by 17.7% during the 1st quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after purchasing an additional 1,433,463 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in UDR by 22.3% in the first quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock valued at $279,373,000 after purchasing an additional 1,359,804 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in UDR by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock valued at $194,737,000 after purchasing an additional 103,384 shares during the period. Institutional investors and hedge funds own 97.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UDR shares. The Goldman Sachs Group initiated coverage on shares of UDR in a research note on Wednesday, September 4th. They set a “sell” rating and a $42.00 target price for the company. Wedbush increased their price objective on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company boosted their target price on UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 26th. UBS Group increased their price target on UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Scotiabank lifted their price objective on shares of UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a research report on Monday, September 16th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $44.28.

UDR Trading Down 0.5 %

Shares of UDR stock opened at $44.99 on Friday. The stock has a 50-day simple moving average of $43.30 and a 200 day simple moving average of $40.29. The stock has a market capitalization of $14.84 billion, a P/E ratio of 32.60, a P/E/G ratio of 10.09 and a beta of 0.85. UDR, Inc. has a fifty-two week low of $30.95 and a fifty-two week high of $47.55. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). The business had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 EPS. On average, sell-side analysts expect that UDR, Inc. will post 2.47 earnings per share for the current fiscal year.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s dividend payout ratio is presently 123.19%.

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.