UDR (NYSE:UDR) Price Target Raised to $45.00

UDR (NYSE:UDR) had its price target boosted by Scotiabank from $43.00 to $45.00 in a research note published on Monday, Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Several other research analysts have also weighed in on the stock. Wells Fargo & Company increased their target price on shares of UDR from $41.00 to $48.00 and gave the stock an overweight rating in a research note on Monday. BMO Capital Markets raised shares of UDR from a market perform rating to an outperform rating and lifted their target price for the company from $39.00 to $45.00 in a report on Monday, July 15th. Wedbush lifted their price objective on shares of UDR from $45.00 to $49.00 and gave the company an outperform rating in a research report on Monday, August 5th. Mizuho lifted their price objective on shares of UDR from $35.00 to $38.00 and gave the company a neutral rating in a research report on Thursday, May 30th. Finally, Morgan Stanley boosted their target price on shares of UDR from $37.00 to $40.00 and gave the stock an equal weight rating in a research report on Tuesday, May 14th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, UDR has a consensus rating of Hold and an average price target of $42.65.

UDR Price Performance

Shares of NYSE UDR opened at $44.19 on Monday. The firm has a 50-day simple moving average of $41.35 and a 200-day simple moving average of $38.94. The stock has a market capitalization of $14.55 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 9.34 and a beta of 0.83. 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 has a 52 week low of $30.95 and a 52 week high of $44.22.

UDR (NYSE:UDR) last released its quarterly earnings data 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). 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 analyst estimates of $413.75 million. During the same quarter in the previous year, the business posted $0.61 earnings per share. UDR’s revenue for the quarter was up 2.7% on a year-over-year basis. On average, equities analysts predict that UDR will post 2.46 earnings per share for the current fiscal year.

UDR Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.85%. The ex-dividend date was Wednesday, July 10th. UDR’s payout ratio is 123.19%.

Insider Activity at UDR

In other news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the completion of the transaction, the chief executive officer now owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 3.73% of the stock is currently owned by corporate insiders.

Institutional Trading of UDR

Institutional investors and hedge funds have recently bought and sold shares of the business. Family Firm Inc. acquired a new stake in UDR during the 2nd quarter worth approximately $26,000. Principal Securities Inc. purchased a new position in UDR in the 4th quarter worth approximately $26,000. Fidelis Capital Partners LLC purchased a new position in shares of UDR during the 1st quarter valued at approximately $26,000. Quest Partners LLC purchased a new position in shares of UDR during the 4th quarter valued at approximately $27,000. Finally, UMB Bank n.a. purchased a new position in shares of UDR during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds 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.