Park Avenue Securities LLC Increases Position in UDR, Inc. (NYSE:UDR)

Park Avenue Securities LLC lifted its position in shares of UDR, Inc. (NYSE:UDR – Get Rating) by 74.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 9,105 shares of the real estate investment trust’s stock after buying an additional 3,889 shares during the period. Park Avenue Securities LLC’s holdings in UDR were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of UDR. Vanguard Group Inc. raised its stake in UDR by 4.9% during the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock worth $2,904,527,000 after purchasing an additional 2,353,851 shares during the period. State Street Corp raised its stake in UDR by 11.3% during the first quarter. State Street Corp now owns 20,573,811 shares of the real estate investment trust’s stock worth $1,180,320,000 after purchasing an additional 2,084,674 shares during the period. FMR LLC raised its stake in UDR by 8.3% during the second quarter. FMR LLC now owns 10,616,907 shares of the real estate investment trust’s stock worth $488,802,000 after purchasing an additional 816,291 shares during the period. JPMorgan Chase & Co. raised its stake in UDR by 31.6% during the second quarter. JPMorgan Chase & Co. now owns 8,059,929 shares of the real estate investment trust’s stock worth $371,080,000 after purchasing an additional 1,933,584 shares during the period. Finally, Legal & General Group Plc raised its stake in UDR by 9.4% during the second quarter. Legal & General Group Plc now owns 4,046,709 shares of the real estate investment trust’s stock worth $186,310,000 after purchasing an additional 347,149 shares during the period. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on UDR shares. UBS Group started coverage on shares of UDR in a research note on Thursday, December 15th. They set a “neutral” rating and a $43.00 price target on the stock. StockNews.com began coverage on shares of UDR in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. KeyCorp cut their target price on shares of UDR from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 7th. Morgan Stanley raised shares of UDR from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $49.00 to $47.00 in a research note on Friday, December 2nd. Finally, Capital One Financial reissued an “overweight” rating on shares of UDR in a research note on Wednesday, November 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $46.71.

Insider Activity

In other news, CEO Thomas W. Toomey sold 20,000 shares of UDR stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $40.44, for a total value of $808,800.00. Following the completion of the transaction, the chief executive officer now directly owns 984,716 shares of the company’s stock, valued at approximately $39,821,915.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.41% of the company’s stock.

UDR Trading Up 0.9 %

NYSE UDR opened at $39.98 on Friday. UDR, Inc. has a one year low of $37.18 and a one year high of $60.01. The company has a 50-day simple moving average of $39.61 and a 200-day simple moving average of $42.30. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.72 and a current ratio of 3.72. The firm has a market capitalization of $13.02 billion, a PE ratio of 81.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.73.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Monday, January 9th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, January 6th. UDR’s dividend payout ratio (DPR) is presently 310.20%.

About UDR

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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.