UDR (NYSE:UDR) Reaches New 1-Year High at $44.58

UDR, Inc. (NYSE:UDR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $44.58 and last traded at $44.54, with a volume of 1540 shares. The stock had previously closed at $44.51.

Analyst Ratings Changes

UDR has been the topic of several analyst reports. Evercore ISI lifted their target price on UDR from $40.00 to $42.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. JPMorgan Chase & Co. lifted their price objective on shares of UDR from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Royal Bank of Canada lowered their target price on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. Wedbush boosted their price target on shares of UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, BMO Capital Markets raised shares of UDR from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $39.00 to $45.00 in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $42.82.

UDR Stock Down 0.7 %

The firm has a market capitalization of $14.71 billion, a PE ratio of 32.31, a P/E/G ratio of 9.76 and a beta of 0.85. The stock has a 50-day simple moving average of $41.73 and a 200-day simple moving average of $39.26. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same quarter in the previous year, the company posted $0.61 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Analysts forecast that UDR, Inc. will post 2.46 EPS for the current year.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is currently 123.19%.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 90,000 shares of the business’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 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 the SEC website. 3.73% of the stock is owned by insiders.

Hedge Funds Weigh In On UDR

A number of large investors have recently modified their holdings of the company. Principal Securities Inc. bought a new stake in UDR during the fourth quarter valued at $26,000. Fidelis Capital Partners LLC bought a new stake in shares of UDR during the 1st quarter valued at about $26,000. Family Firm Inc. purchased a new position in shares of UDR during the second quarter worth about $26,000. Quest Partners LLC purchased a new position in shares of UDR during the fourth quarter worth about $27,000. Finally, UMB Bank n.a. bought a new position in shares of UDR in the second quarter worth approximately $33,000. 97.84% of the stock is currently owned by institutional investors.

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.