Royal Bank of Canada Has Lowered Expectations for UDR (NYSE:UDR) Stock Price

UDR (NYSE:UDR) had its price objective reduced by Royal Bank of Canada from $46.00 to $45.00 in a research report sent to investors on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets upgraded UDR from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $39.00 to $45.00 in a report on Monday, July 15th. JPMorgan Chase & Co. boosted their target price on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, September 16th. BNP Paribas started coverage on shares of UDR in a report on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price objective on shares of UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Wedbush boosted their target price on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.24.

UDR Stock Performance

Shares of UDR stock opened at $43.22 on Tuesday. The business has a 50-day moving average price of $44.65 and a two-hundred day moving average price of $41.76. UDR has a 1-year low of $31.87 and a 1-year high of $47.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69. The company has a market cap of $14.26 billion, a P/E ratio of 116.81, a PEG ratio of 9.18 and a beta of 0.85.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a $0.425 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 annualized dividend and a yield of 3.93%. UDR’s dividend payout ratio (DPR) is 459.47%.

Hedge Funds Weigh In On UDR

Hedge funds and other institutional investors have recently modified their holdings of the business. CWM LLC lifted its holdings in UDR by 10.0% during the third quarter. CWM LLC now owns 3,802 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 347 shares during the period. Mather Group LLC. boosted its holdings in shares of UDR by 58.2% in the 3rd quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 367 shares during the last quarter. Truist Financial Corp grew its position in UDR by 0.6% during the second quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock valued at $2,744,000 after buying an additional 414 shares during the period. TCV Trust & Wealth Management Inc. increased its holdings in UDR by 8.2% during the third quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust’s stock worth $253,000 after buying an additional 424 shares during the last quarter. Finally, Covestor Ltd raised its position in UDR by 18.3% in the first quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 515 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Company 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 communities in targeted U.S.