Truist Financial Raises UDR (NYSE:UDR) Price Target to $44.00

UDR (NYSE:UDR) had its price target increased by Truist Financial from $42.00 to $44.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other brokerages also recently issued reports on UDR. Wedbush boosted their price objective on shares of UDR from $40.00 to $45.00 and gave the company an outperform rating in a research report on Monday, May 6th. UBS Group upgraded UDR from a neutral rating to a buy rating and upped their target price for the stock from $38.00 to $44.00 in a report on Thursday, April 25th. Morgan Stanley boosted their target price on shares of UDR from $37.00 to $40.00 and gave the company an equal weight rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their price target on shares of UDR from $42.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Finally, Scotiabank boosted their price objective on shares of UDR from $39.00 to $42.00 and gave the stock a sector perform rating in a research note on Tuesday, May 14th. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $40.71.

UDR Stock Down 0.9 %

NYSE UDR opened at $40.46 on Monday. The business’s 50-day moving average is $38.91 and its 200 day moving average is $37.62. The stock has a market capitalization of $13.32 billion, a PE ratio of 29.32, a PEG ratio of 9.00 and a beta of 0.81. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 6.61. UDR has a 1 year low of $30.95 and a 1 year high of $44.02.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.70 annualized dividend and a yield of 4.20%. UDR’s payout ratio is 123.19%.

Insider Buying and Selling at UDR

In related news, SVP Michael D. Lacy sold 4,500 shares of UDR stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $171,765.00. Following the transaction, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at $326,964.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the sale, the chief executive officer now owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The disclosure for this sale can be found here. 3.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UDR

A number of hedge funds and other institutional investors have recently modified their holdings of UDR. Presima Securities ULC purchased a new stake in UDR in the 4th quarter worth $18,256,000. Hsbc Holdings PLC grew its holdings in UDR by 6.2% during the 4th quarter. Hsbc Holdings PLC now owns 761,659 shares of the real estate investment trust’s stock valued at $29,205,000 after buying an additional 44,677 shares in the last quarter. International Assets Investment Management LLC increased its stake in UDR by 3,730.9% in the 4th quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock worth $1,430,000 after acquiring an additional 36,376 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of UDR by 79.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock worth $70,087,000 after acquiring an additional 809,273 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of UDR by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,128,230 shares of the real estate investment trust’s stock valued at $158,070,000 after acquiring an additional 81,981 shares during the last quarter. 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.