Riverhead Capital Management LLC Acquires 4,150 Shares of UDR, Inc. (NYSE:UDR)

Riverhead Capital Management LLC raised its holdings in UDR, Inc. (NYSE:UDR) by 26.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 19,689 shares of the real estate investment trust’s stock after acquiring an additional 4,150 shares during the quarter. Riverhead Capital Management LLC’s holdings in UDR were worth $884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in UDR. Cornerstone Advisors Inc. increased its position in shares of UDR by 66.8% during the 1st quarter. Cornerstone Advisors Inc. now owns 577 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 231 shares during the last quarter. CWM LLC boosted its holdings in shares of UDR by 236.7% in the 2nd quarter. CWM LLC now owns 1,101 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 774 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new stake in shares of UDR in the 2nd quarter valued at approximately $66,000. Nelson Roberts Investment Advisors LLC bought a new position in shares of UDR in the second quarter valued at $96,000. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of UDR by 1,609.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 2,188 shares of the real estate investment trust’s stock valued at $98,000 after buying an additional 2,060 shares in the last quarter. Institutional investors own 93.51% of the company’s stock.

In related news, COO Jerry A. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $45.21, for a total transaction of $452,100.00. Following the completion of the sale, the chief operating officer now directly owns 193,065 shares of the company’s stock, valued at $8,728,468.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Warren L. Troupe sold 5,000 shares of UDR stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $46.61, for a total value of $233,050.00. Following the sale, the vice president now owns 490,761 shares in the company, valued at $22,874,370.21. The disclosure for this sale can be found here. Insiders sold a total of 18,100 shares of company stock worth $834,663 in the last 90 days. Company insiders own 2.85% of the company’s stock.

A number of research analysts have recently commented on UDR shares. TheStreet raised shares of UDR from a “c” rating to a “b-” rating in a research report on Tuesday, July 30th. Wells Fargo & Co lifted their price target on shares of UDR from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Morgan Stanley increased their target price on UDR from $48.00 to $51.00 and gave the company an “equal weight” rating in a research report on Friday, September 6th. ValuEngine raised UDR from a “hold” rating to a “buy” rating in a research note on Tuesday, August 27th. Finally, Mizuho boosted their target price on UDR from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $45.54.

Shares of UDR stock traded down $0.20 during mid-day trading on Wednesday, hitting $47.64. 54,170 shares of the stock were exchanged, compared to its average volume of 1,626,707. UDR, Inc. has a 12 month low of $37.87 and a 12 month high of $49.07. The company has a 50-day simple moving average of $47.17 and a 200 day simple moving average of $45.67. The company has a debt-to-equity ratio of 1.32, a quick ratio of 6.43 and a current ratio of 6.43. The company has a market capitalization of $14.01 billion, a P/E ratio of 24.34, a P/E/G ratio of 3.60 and a beta of 0.46.

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: Trade Deficit

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Institutional Ownership by Quarter for UDR (NYSE:UDR)

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