BNP Paribas Initiates Coverage on UDR (NYSE:UDR)

BNP Paribas assumed coverage on shares of UDR (NYSE:UDR) in a research note published on Wednesday morning, MarketBeat reports. The firm issued an outperform rating and a $49.00 target price on the real estate investment trust’s stock.

Several other research firms have also issued reports on UDR. UBS Group boosted their target price on UDR from $44.00 to $48.00 and gave the stock a buy rating in a research report on Thursday, July 18th. Morgan Stanley boosted their price objective on UDR from $37.00 to $40.00 and gave the company an equal weight rating in a research report on Tuesday, May 14th. Piper Sandler boosted their price objective on UDR from $40.00 to $46.00 and gave the company a neutral rating in a research report on Monday, August 26th. Royal Bank of Canada decreased their price objective on UDR from $41.00 to $40.00 and set a sector perform rating for the company in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on UDR from $40.00 to $44.00 and gave the company a hold rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $43.67.

UDR Price Performance

Shares of UDR stock opened at $47.13 on Wednesday. The stock has a 50-day moving average price of $42.37 and a 200 day moving average price of $39.70. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 34.15, a PEG ratio of 10.08 and a beta of 0.85. UDR has a 12 month low of $30.95 and a 12 month high of $47.22.

UDR (NYSE:UDR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (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 3.70% and a net margin of 8.34%. UDR’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Research analysts expect that UDR will post 2.46 EPS for the current year.

Institutional Investors Weigh In On UDR

Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of UDR during the 4th quarter worth approximately $1,065,482,000. Capital Research Global Investors bought a new stake in shares of UDR during the 1st quarter worth approximately $176,137,000. Centersquare Investment Management LLC raised its stake in shares of UDR by 35.9% during the 4th quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock worth $310,807,000 after purchasing an additional 2,145,242 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of UDR during the 4th quarter worth approximately $79,897,000. Finally, Millennium Management LLC raised its stake in shares of UDR by 115.3% during the 2nd quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after purchasing an additional 1,874,096 shares in the last quarter. 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.