Sterling Capital Management LLC Trims Stock Position in UDR, Inc. (NYSE:UDR)

Sterling Capital Management LLC lowered its position in shares of UDR, Inc. (NYSE:UDR) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,000 shares of the real estate investment trust’s stock after selling 5,000 shares during the period. Sterling Capital Management LLC’s holdings in UDR were worth $3,053,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of UDR. Cornerstone Advisors Inc. grew its stake in UDR by 66.8% during the first quarter. Cornerstone Advisors Inc. now owns 577 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 231 shares in the last quarter. CWM LLC grew its stake in UDR by 236.7% during the second quarter. CWM LLC now owns 1,101 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 774 shares in the last quarter. Mcmillion Capital Management Inc. purchased a new position in UDR during the second quarter valued at approximately $66,000. Nelson Roberts Investment Advisors LLC purchased a new position in UDR during the second quarter valued at approximately $96,000. Finally, Farmers & Merchants Investments Inc. grew its stake in UDR by 1,609.4% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 2,188 shares of the real estate investment trust’s stock worth $98,000 after buying an additional 2,060 shares in the last quarter. 93.56% of the stock is owned by institutional investors.

NYSE UDR traded down $0.09 during trading on Thursday, hitting $48.22. The company had a trading volume of 31,729 shares, compared to its average volume of 1,383,939. The company has a current ratio of 6.43, a quick ratio of 6.43 and a debt-to-equity ratio of 1.32. UDR, Inc. has a one year low of $37.87 and a one year high of $49.07. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 3.59 and a beta of 0.46. The company’s fifty day moving average is $47.43 and its 200-day moving average is $45.78.

In other UDR news, CFO Joseph D. Fisher sold 3,100 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $48.23, for a total value of $149,513.00. Following the completion of the transaction, the chief financial officer now directly owns 25,294 shares in the company, valued at approximately $1,219,929.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Jerry A. Davis sold 10,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $45.21, for a total transaction of $452,100.00. Following the completion of the transaction, the chief operating officer now owns 193,065 shares of the company’s stock, valued at $8,728,468.65. The disclosure for this sale can be found here. 2.85% of the stock is currently owned by corporate insiders.

UDR has been the subject of a number of research reports. TheStreet raised shares of UDR from a “c” rating to a “b-” rating in a research note on Tuesday, July 30th. Morgan Stanley upped their price target on shares of UDR from $48.00 to $51.00 and gave the company an “equal weight” rating in a report on Friday, September 6th. Wells Fargo & Co upped their price target on shares of UDR from $46.00 to $47.00 and gave the company a “market perform” rating in a report on Tuesday, August 13th. Capital One Financial upgraded shares of UDR from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $45.00 to $50.00 in a report on Monday. Finally, Mizuho upped their price target on shares of UDR from $51.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. UDR presently has a consensus rating of “Hold” and an average price target of $46.08.

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 properties in targeted U.S.

See Also: What is channel trading?

Want to see what other hedge funds are holding UDR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UDR, Inc. (NYSE:UDR).

Institutional Ownership by Quarter for UDR (NYSE:UDR)

Receive News & Ratings for UDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR and related companies with MarketBeat.com's FREE daily email newsletter.