UDR (NYSE:UDR) Price Target Increased to $49.00 by Analysts at Scotiabank

UDR (NYSE:UDR) had its price objective raised by analysts at Scotiabank from $45.00 to $49.00 in a report issued on Monday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price would suggest a potential upside of 3.97% from the stock’s previous close.

UDR has been the topic of several other reports. Wells Fargo & Company boosted their price objective on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, August 26th. UBS Group boosted their price target on shares of UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada lowered their price objective on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. BMO Capital Markets raised UDR from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $39.00 to $45.00 in a research report on Monday, July 15th. Finally, The Goldman Sachs Group assumed coverage on UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $44.28.

UDR Price Performance

Shares of UDR stock remained flat at $47.13 during mid-day trading on Monday. 735,299 shares of the stock traded hands, compared to its average volume of 2,589,727. The firm’s 50-day simple moving average is $42.37 and its 200-day simple moving average is $39.76. The company has a market cap of $15.52 billion, a price-to-earnings ratio of 34.21, a P/E/G ratio of 10.21 and a beta of 0.85. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR has a twelve month low of $30.95 and a twelve month high of $47.54.

UDR (NYSE:UDR) last issued its quarterly earnings data 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 business had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $413.75 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect that UDR will post 2.46 earnings per share for the current year.

Institutional Investors Weigh In On UDR

Several large investors have recently modified their holdings of the company. Capital Research Global Investors purchased a new position in shares of UDR in the 1st quarter valued at approximately $176,137,000. Centersquare Investment Management LLC lifted its stake in shares of UDR by 35.9% in 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 acquiring an additional 2,145,242 shares during the period. Balyasny Asset Management L.P. purchased a new stake in shares of UDR in the fourth quarter valued at about $79,897,000. Millennium Management LLC increased its stake in shares of UDR by 115.3% during the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after acquiring an additional 1,874,096 shares during the period. Finally, Heitman Real Estate Securities LLC acquired a new position in shares of UDR during the fourth quarter worth about $60,952,000. 97.84% of the stock is owned by institutional investors and hedge funds.

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.