UDR (NYSE:UDR) Price Target Lowered to $40.00 at Royal Bank of Canada

UDR (NYSE:UDR) had its price objective cut by investment analysts at Royal Bank of Canada from $41.00 to $40.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price objective points to a potential downside of 0.82% from the company’s current price.

Several other equities research analysts have also recently commented on the company. BMO Capital Markets upgraded UDR from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $39.00 to $45.00 in a research note on Monday, July 15th. Wedbush lifted their price target on shares of UDR from $40.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Wells Fargo & Company increased their price objective on shares of UDR from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Mizuho raised their price objective on UDR from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. upped their target price on UDR from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, UDR has an average rating of “Hold” and an average target price of $41.33.

UDR Stock Up 0.6 %

Shares of NYSE UDR traded up $0.26 during mid-day trading on Thursday, reaching $40.33. 1,563,722 shares of the company’s stock were exchanged, compared to its average volume of 2,664,602. UDR has a twelve month low of $30.95 and a twelve month high of $42.42. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 29.22, a PEG ratio of 9.01 and a beta of 0.83. The business has a fifty day simple moving average of $40.32 and a 200 day simple moving average of $38.20.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.53). The company had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR had a return on equity of 3.63% and a net margin of 8.34%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. As a group, equities analysts expect that UDR will post 2.45 EPS for the current fiscal year.

Insider Activity

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

Institutional Trading of UDR

A number of hedge funds and other institutional investors have recently modified their holdings of UDR. Raymond James & Associates raised its holdings in UDR by 13.6% in the 4th quarter. Raymond James & Associates now owns 82,281 shares of the real estate investment trust’s stock valued at $3,151,000 after buying an additional 9,842 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of UDR by 24.9% during the fourth quarter. Fifth Third Bancorp now owns 18,105 shares of the real estate investment trust’s stock worth $693,000 after purchasing an additional 3,613 shares during the period. Arizona State Retirement System grew its stake in shares of UDR by 0.8% in the fourth quarter. Arizona State Retirement System now owns 86,027 shares of the real estate investment trust’s stock worth $3,294,000 after purchasing an additional 712 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of UDR by 0.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 589,660 shares of the real estate investment trust’s stock worth $22,861,000 after purchasing an additional 2,626 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in UDR by 3,730.9% in the fourth quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock valued at $1,430,000 after purchasing an additional 36,376 shares during the period. Institutional investors own 97.84% of the company’s stock.

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.