UDR (NYSE:UDR) Sets New 1-Year High After Analyst Upgrade

UDR, Inc. (NYSE:UDR) shares hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from $45.00 to $49.00. Scotiabank currently has a sector perform rating on the stock. UDR traded as high as $47.33 and last traded at $47.33, with a volume of 756 shares traded. The stock had previously closed at $47.13.

Several other equities analysts have also recently weighed in on UDR. Evercore ISI raised their price objective on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a report on Monday, September 9th. Royal Bank of Canada decreased their price target on UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Truist Financial raised their target price on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Finally, Wells Fargo & Company lifted their price objective on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.28.

Institutional Trading of UDR

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in UDR by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after purchasing an additional 233,475 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of UDR by 3.8% in the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock valued at $1,025,351,000 after buying an additional 984,807 shares during the period. Centersquare Investment Management LLC grew its position in UDR by 17.7% during the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after buying an additional 1,433,463 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in UDR by 22.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after acquiring an additional 1,359,804 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in UDR by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock worth $194,737,000 after acquiring an additional 103,384 shares during the period. 97.84% of the stock is owned by institutional investors and hedge funds.

UDR Price Performance

The company has a fifty day simple moving average of $42.61 and a two-hundred day simple moving average of $39.92. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 33.61, a PEG ratio of 10.21 and a beta of 0.85. 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 posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The company 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 revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. As a group, equities research analysts expect that UDR, Inc. will post 2.46 earnings per share for the current fiscal year.

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.