Proficio Capital Partners LLC Purchases Shares of 63,639 UDR, Inc. (NYSE:UDR)

Proficio Capital Partners LLC acquired a new stake in shares of UDR, Inc. (NYSE:UDR) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 63,639 shares of the real estate investment trust’s stock, valued at approximately $2,763,000.

Other hedge funds also recently made changes to their positions in the company. Activest Wealth Management bought a new position in shares of UDR during the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group bought a new position in shares of UDR during the 3rd quarter valued at approximately $33,000. Continuum Advisory LLC grew its stake in shares of UDR by 5,335.3% during the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 907 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of UDR by 68.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 491 shares during the period. Finally, Salem Investment Counselors Inc. grew its stake in shares of UDR by 62.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 520 shares during the period. 97.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UDR has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price objective on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Wells Fargo & Company lowered their price target on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Zelman & Associates reissued a “neutral” rating on shares of UDR in a report on Thursday, February 13th. Jefferies Financial Group cut UDR from a “buy” rating to a “hold” rating and lowered their price target for the stock from $50.00 to $45.00 in a report on Thursday, January 2nd. Finally, Mizuho lowered their price target on UDR from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $46.12.

UDR Stock Down 1.1 %

Shares of UDR opened at $43.41 on Wednesday. The company has a market cap of $14.37 billion, a PE ratio of 173.62, a P/E/G ratio of 8.67 and a beta of 0.88. The business has a fifty day moving average of $42.59 and a 200 day moving average of $43.79. UDR, Inc. has a 52-week low of $35.14 and a 52-week high of $47.55. 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 (NYSE:UDR) last issued its quarterly earnings results 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 return on equity of 2.65% and a net margin of 5.36%. On average, sell-side analysts expect that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a $0.43 dividend. The ex-dividend date is Thursday, April 10th. This is an increase from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a yield of 3.96%. UDR’s dividend payout ratio (DPR) is currently 688.00%.

Insider Buying and Selling

In other news, CEO Thomas W. Toomey sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the transaction, the chief executive officer now owns 824,716 shares in the company, valued at approximately $35,256,609. This trade represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 3.73% of the stock is owned by corporate insiders.

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.