Today’s Price Action: Can UDR, Inc.’s Tomorrow be Different? The Stock Just Gapped Down

Today's Price Action: Can UDR, Inc.'s Tomorrow be Different? The Stock Just Gapped Down

The stock of UDR, Inc. (NYSE:UDR) gapped down by $0.13 today and has $32.65 target or 7.00% below today’s $35.11 share price. The 9 months technical chart setup indicates high risk for the $9.43B company. The gap down was reported on Oct, 4 by Barchart.com. If the $32.65 price target is reached, the company will be worth $660.10M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 2.45% or $0.88 on October 3, hitting $35.11. UDR, Inc. (NYSE:UDR) has declined 1.49% since March 1, 2016 and is downtrending. It has underperformed by 13.70% the S&P500.

Analysts await UDR, Inc. (NYSE:UDR) to report earnings on October, 24. They expect $0.45 EPS, up 7.14% or $0.03 from last year’s $0.42 per share. UDR’s profit will be $120.86M for 19.51 P/E if the $0.45 EPS becomes a reality. After $0.44 actual EPS reported by UDR, Inc. for the previous quarter, Wall Street now forecasts 2.27% EPS growth.

UDR, Inc. (NYSE:UDR) Ratings Coverage

Out of 19 analysts covering UDR Inc (NYSE:UDR), 3 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 16% are positive. UDR Inc has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained UDR, Inc. (NYSE:UDR) rating on Tuesday, October 27. Stifel Nicolaus has “Buy” rating and $39 price target. RBC Capital Markets maintained UDR, Inc. (NYSE:UDR) rating on Thursday, February 11. RBC Capital Markets has “Sector Perform” rating and $37 price target. On Tuesday, July 21 the stock rating was initiated by SunTrust with “Neutral”. The stock of UDR, Inc. (NYSE:UDR) earned “Neutral” rating by Mizuho on Monday, March 21. The firm earned “Buy” rating on Thursday, August 25 by BTIG Research. Citigroup maintained it with “Neutral” rating and $38 target price in Tuesday, August 2 report. Zacks upgraded the stock to “Hold” rating in Monday, August 17 report. The firm has “Outperform” rating by BMO Capital Markets given on Monday, March 7. JMP Securities downgraded UDR, Inc. (NYSE:UDR) on Tuesday, January 19 to “Mkt Perform” rating. The firm has “Neutral” rating by Robert W. Baird given on Thursday, December 17.

According to Zacks Investment Research, “United Dominion Realty Trust, Inc. is a leading multi-family 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. markets. UDR has delivered long-term value to shareholders, the best standard of service to residents, and the highest quality experience for associates.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.04, from 1.04 in 2016Q1. The ratio worsened, as 27 funds sold all UDR, Inc. shares owned while 110 reduced positions. 28 funds bought stakes while 109 increased positions. They now own 266.03 million shares or 1.86% more from 261.17 million shares in 2016Q1.
Cypress Capital Management Ltd Limited Liability Company (Wy) last reported 378 shares in the company. Fca Corp Tx, a Texas-based fund reported 9,951 shares. Qcm Cayman Limited accumulated 0.18% or 11,365 shares. Swiss Fincl Bank, a Switzerland-based fund reported 1.44M shares. Bb&T last reported 0% of its portfolio in the stock. Capital Fund Mngmt Sa, a France-based fund reported 216,278 shares. The Japan-based Norinchukin Financial Bank The has invested 0.01% in UDR, Inc. (NYSE:UDR). Capstone Asset Mngmt Communication holds 0.03% of its portfolio in UDR, Inc. (NYSE:UDR) for 25,065 shares. Renaissance Grp Incorporated Llc has 10,039 shares for 0.02% of their US portfolio. Louisiana State Employees Retirement System holds 0.03% or 17,500 shares in its portfolio. Pacific Heights Asset Mgmt Ltd Liability Company owns 450,000 shares or 1.51% of their US portfolio. Moreover, Credit Agricole S A has 0.02% invested in UDR, Inc. (NYSE:UDR) for 154,592 shares. Iat Reinsurance accumulated 100,000 shares or 2.57% of the stock. Renaissance Technology Ltd Company last reported 0.13% of its portfolio in the stock. Moreover, Ameriprise has 0.03% invested in UDR, Inc. (NYSE:UDR) for 1.26M shares.

Insider Transactions: Since April 12, 2016, the stock had 4 insider buys, and 2 insider sales for $398,380 net activity. KLINGBEIL JAMES D bought $1,010 worth of stock or 30 shares. On Wednesday, August 24 McDonnough Clinton D bought $71,300 worth of the stock or 2,000 shares. ALCOCK HARRY G had sold 7,500 shares worth $277,253 on Thursday, August 4. 10,000 UDR, Inc. (NYSE:UDR) shares with value of $367,225 were sold by GROVE JON A.

Another recent and important UDR, Inc. (NYSE:UDR) news was published by Prnewswire.com which published an article titled: “REIT Stocks Technical Report — UDR Inc., Apartment Investment and Management …” on September 16, 2016.

UDR Company Profile

UDR, Inc., incorporated on May 2, 2003, is a real estate investment trust. The Firm owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Firm operates through two divisions: Same-Store Communities and Non-Mature Communities/Other. The Company’s consolidated real estate portfolio includes approximately 130 communities located in over 20 markets, with a total of approximately 40,730 completed apartment homes. The Firm holds an ownership interest in approximately 30 communities containing over 6,700 apartment homes through unconsolidated joint ventures or partnerships.

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