UDR (NYSE:UDR) Price Target Raised to $45.00

UDR (NYSE:UDR) had its price objective lifted by Scotiabank from $43.00 to $45.00 in a research report sent to investors on Monday, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price target on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Mizuho boosted their price target on UDR from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Thursday, May 30th. BMO Capital Markets raised UDR from a market perform rating to an outperform rating and boosted their price target for the stock from $39.00 to $45.00 in a research report on Monday, July 15th. Royal Bank of Canada lowered their price target on UDR from $41.00 to $40.00 and set a sector perform rating on the stock in a research report on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on UDR from $37.00 to $40.00 and gave the stock an equal weight rating in a research report on Tuesday, May 14th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $42.65.

UDR Stock Up 1.3 %

Shares of UDR stock opened at $44.19 on Monday. The business’s 50 day simple moving average is $41.35 and its 200 day simple moving average is $38.94. UDR has a 52-week low of $30.95 and a 52-week high of $44.22. The firm has a market cap of $14.55 billion, a PE ratio of 32.02, a P/E/G ratio of 9.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The firm had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 EPS. On average, analysts predict that UDR will post 2.46 earnings per share for the current fiscal year.

UDR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.85%. UDR’s payout ratio is 123.19%.

Insider Activity

In other news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction 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 completion of 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 SEC, which is accessible through this hyperlink. Corporate insiders own 3.73% of the company’s stock.

Hedge Funds Weigh In On UDR

A number of institutional investors have recently modified their holdings of the business. Truist Financial Corp raised its holdings in shares of UDR by 0.6% during the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock worth $2,744,000 after buying an additional 414 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of UDR during the 2nd quarter worth $586,000. Creative Planning raised its holdings in shares of UDR by 16.1% during the 2nd quarter. Creative Planning now owns 15,732 shares of the real estate investment trust’s stock worth $647,000 after buying an additional 2,181 shares in the last quarter. Waterfall Asset Management LLC acquired a new position in shares of UDR during the 2nd quarter worth $820,000. Finally, Lighthouse Investment Partners LLC acquired a new position in UDR in the 2nd quarter worth about $10,699,000. Institutional investors and hedge funds 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.