Franklin Resources Inc. Lowers Position in UDR, Inc. (NYSE:UDR)

Franklin Resources Inc. reduced its position in shares of UDR, Inc. (NYSE:UDR) by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 236,641 shares of the real estate investment trust’s stock after selling 10,240 shares during the period. Franklin Resources Inc. owned approximately 0.07% of UDR worth $10,398,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of UDR by 4,436.2% during the 3rd quarter. International Assets Investment Management LLC now owns 44,228 shares of the real estate investment trust’s stock worth $2,005,000 after buying an additional 43,253 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in UDR by 1,665.3% during the third quarter. Los Angeles Capital Management LLC now owns 369,448 shares of the real estate investment trust’s stock worth $16,751,000 after acquiring an additional 348,520 shares during the period. MQS Management LLC acquired a new position in UDR during the third quarter worth $712,000. Millennium Management LLC raised its position in UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after acquiring an additional 1,874,096 shares in the last quarter. Finally, BSN CAPITAL PARTNERS Ltd acquired a new stake in UDR in the third quarter valued at $10,987,000. Institutional investors and hedge funds own 97.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on UDR. JPMorgan Chase & Co. increased their price target on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company increased their target price on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 26th. StockNews.com raised UDR from a “sell” rating to a “hold” rating in a research note on Saturday. Evercore ISI raised their price objective on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research note on Monday, September 9th. Finally, Royal Bank of Canada decreased their target price on UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.00.

UDR Trading Up 2.5 %

Shares of UDR opened at $43.46 on Friday. UDR, Inc. has a fifty-two week low of $34.19 and a fifty-two week high of $47.55. The company has a market capitalization of $14.34 billion, a PE ratio of 117.46, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87. The stock has a fifty day moving average of $44.34 and a two-hundred day moving average of $43.14. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91.

UDR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 9th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $1.70 annualized dividend and a yield of 3.91%. UDR’s dividend payout ratio (DPR) is presently 459.46%.

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.