UDR, Inc. (UDR) Shares Sold by Markston International LLC

Markston International LLC lessened its position in shares of UDR, Inc. (NYSE:UDR) by 52.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,148 shares of the real estate investment trust’s stock after selling 7,893 shares during the quarter. Markston International LLC’s holdings in UDR were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can bought a new stake in shares of UDR in the 2nd quarter valued at approximately $47,089,000. Standard Life Aberdeen plc lifted its stake in shares of UDR by 1,910.7% in the 2nd quarter. Standard Life Aberdeen plc now owns 1,050,547 shares of the real estate investment trust’s stock valued at $39,437,000 after purchasing an additional 998,300 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of UDR by 71.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,119,569 shares of the real estate investment trust’s stock valued at $85,211,000 after purchasing an additional 885,971 shares during the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of UDR by 6.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 12,830,822 shares of the real estate investment trust’s stock valued at $518,750,000 after purchasing an additional 811,970 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of UDR by 771.9% in the 2nd quarter. Millennium Management LLC now owns 768,480 shares of the real estate investment trust’s stock valued at $28,849,000 after purchasing an additional 680,346 shares during the last quarter. Institutional investors and hedge funds own 95.60% of the company’s stock.

In other news, SVP Harry G. Alcock sold 10,000 shares of UDR stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $40.45, for a total value of $404,500.00. Following the transaction, the senior vice president now directly owns 126,123 shares in the company, valued at approximately $5,101,675.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas W. Toomey sold 40,000 shares of UDR stock in a transaction on Friday, August 17th. The shares were sold at an average price of $39.80, for a total value of $1,592,000.00. Following the completion of the transaction, the chief executive officer now owns 1,768,753 shares in the company, valued at $70,396,369.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,773 shares of company stock valued at $4,157,729. 3.16% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on the company. ValuEngine lowered UDR from a “buy” rating to a “hold” rating in a research note on Thursday, November 1st. Citigroup raised their price objective on UDR from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, November 1st. Evercore ISI lowered UDR from an “in-line” rating to an “underperform” rating in a research note on Sunday, October 21st. Societe Generale assumed coverage on UDR in a research note on Tuesday, October 16th. They issued a “sell” rating for the company. Finally, Barclays reaffirmed a “hold” rating and issued a $39.00 price objective on shares of UDR in a research note on Sunday, October 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $39.57.

Shares of NYSE UDR opened at $40.53 on Thursday. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.97 and a quick ratio of 5.97. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 3.40 and a beta of 0.32. UDR, Inc. has a twelve month low of $32.88 and a twelve month high of $41.13.

UDR (NYSE:UDR) last issued its earnings results on Monday, October 29th. The real estate investment trust reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The business had revenue of $266.10 million during the quarter, compared to analyst estimates of $258.90 million. UDR had a return on equity of 7.09% and a net margin of 18.43%. UDR’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.06 EPS. Research analysts expect that UDR, Inc. will post 1.95 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a dividend of $0.3323 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This is a positive change from UDR’s previous quarterly dividend of $0.32. This represents a $1.33 dividend on an annualized basis and a yield of 3.28%. UDR’s payout ratio is 68.98%.

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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 properties in targeted U.S.

Further Reading: Short Selling Stocks, A Beginner’s Guide

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Institutional Ownership by Quarter for UDR (NYSE:UDR)

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