Legend Financial Advisors Inc. Has $37,000 Holdings in UDR, Inc. (NYSE:UDR)

Legend Financial Advisors Inc. lessened its holdings in UDR, Inc. (NYSE:UDR) by 50.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Legend Financial Advisors Inc.’s holdings in UDR were worth $37,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in UDR. Norges Bank acquired a new stake in shares of UDR in the 4th quarter worth about $1,065,482,000. Centersquare Investment Management LLC increased its stake in UDR by 35.9% in the 4th quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock valued at $310,807,000 after buying an additional 2,145,242 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in UDR in the 4th quarter valued at about $79,897,000. Heitman Real Estate Securities LLC purchased a new stake in UDR in the 4th quarter valued at about $60,952,000. Finally, Deutsche Bank AG increased its stake in UDR by 35.9% in the 3rd quarter. Deutsche Bank AG now owns 5,066,503 shares of the real estate investment trust’s stock valued at $180,722,000 after buying an additional 1,339,276 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

UDR Stock Performance

UDR traded up $0.38 on Friday, hitting $41.15. The company’s stock had a trading volume of 3,343,693 shares, compared to its average volume of 1,961,008. The company’s 50 day simple moving average is $39.21 and its 200-day simple moving average is $37.72. The firm has a market cap of $13.55 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 9.07 and a beta of 0.81. UDR, Inc. has a 12 month low of $30.95 and a 12 month high of $44.02. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.13%. The ex-dividend date is Wednesday, July 10th. UDR’s dividend payout ratio is presently 123.19%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group upgraded shares of UDR from a “neutral” rating to a “buy” rating and increased their price objective for the company from $38.00 to $44.00 in a research note on Thursday, April 25th. Wells Fargo & Company increased their price objective on shares of UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Mizuho increased their price objective on shares of UDR from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, May 30th. Morgan Stanley increased their target price on shares of UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 14th. Finally, Wedbush increased their target price on shares of UDR from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.71.

Insiders Place Their Bets

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael D. Lacy sold 4,500 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $171,765.00. Following the completion of the sale, the senior vice president now owns 8,566 shares in the company, valued at $326,964.22. The disclosure for this sale can be found here. Corporate insiders own 3.73% of the company’s stock.

UDR Profile

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.