New York Life Investment Management LLC Has $3.19 Million Stake in UDR, Inc. (NYSE:UDR)

New York Life Investment Management LLC reduced its position in shares of UDR, Inc. (NYSE:UDR) by 36.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 73,374 shares of the real estate investment trust’s stock after selling 41,535 shares during the quarter. New York Life Investment Management LLC’s holdings in UDR were worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position in UDR by 14.8% during the third quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust’s stock worth $516,923,000 after acquiring an additional 1,471,855 shares in the last quarter. JPMorgan Chase & Co. raised its position in UDR by 5.0% during the third quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock worth $352,498,000 after acquiring an additional 368,087 shares in the last quarter. Daiwa Securities Group Inc. raised its position in UDR by 2.3% during the third quarter. Daiwa Securities Group Inc. now owns 7,109,980 shares of the real estate investment trust’s stock worth $322,366,000 after acquiring an additional 159,625 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in UDR by 2.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,272,032 shares of the real estate investment trust’s stock worth $193,694,000 after acquiring an additional 117,213 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in UDR by 862.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,086,964 shares of the real estate investment trust’s stock worth $139,963,000 after acquiring an additional 2,766,172 shares in the last quarter. 97.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other UDR news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the sale, the chief executive officer now directly owns 824,716 shares in the company, valued at $35,256,609. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.73% of the company’s stock.

UDR Trading Up 1.9 %

Shares of UDR stock opened at $45.17 on Friday. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 180.69, a PEG ratio of 8.67 and a beta of 0.88. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. UDR, Inc. has a 12-month low of $34.99 and a 12-month high of $47.55. The firm’s 50-day moving average price is $42.32 and its two-hundred day moving average price is $43.68.

UDR (NYSE:UDR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, analysts forecast that UDR, Inc. will post 2.51 earnings per share for the current fiscal year.

UDR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Thursday, January 9th were paid a dividend of $0.425 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $1.70 dividend on an annualized basis and a yield of 3.76%. UDR’s payout ratio is 680.00%.

Analyst Upgrades and Downgrades

UDR has been the topic of several analyst reports. Wells Fargo & Company dropped their price target on shares of UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. StockNews.com raised shares of UDR from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Jefferies Financial Group lowered shares of UDR from a “buy” rating to a “hold” rating and dropped their price objective for the company from $50.00 to $45.00 in a research report on Thursday, January 2nd. Evercore ISI increased their price objective on shares of UDR from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Finally, Zelman & Associates reissued a “neutral” rating on shares of UDR in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $46.18.

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.