Piper Sandler Boosts UDR (NYSE:UDR) Price Target to $46.00

UDR (NYSE:UDR) had its target price increased by Piper Sandler from $40.00 to $46.00 in a research report report published on Monday, Benzinga reports. The firm currently has a neutral rating on the real estate investment trust’s stock.

UDR has been the subject of a number of other research reports. Truist Financial raised their price objective on UDR from $42.00 to $44.00 and gave the stock a buy rating in a research report on Monday, June 24th. Morgan Stanley increased their target price on UDR from $37.00 to $40.00 and gave the stock an equal weight rating in a report on Tuesday, May 14th. Scotiabank increased their target price on UDR from $43.00 to $45.00 and gave the stock a sector perform rating in a report on Monday. BMO Capital Markets raised UDR from a market perform rating to an outperform rating and increased their target price for the stock from $39.00 to $45.00 in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. increased their target price on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average price target of $42.65.

UDR Price Performance

Shares of NYSE:UDR opened at $44.11 on Monday. The business has a 50 day moving average price of $41.42 and a 200 day moving average price of $38.97. UDR has a twelve month low of $30.95 and a twelve month high of $44.51. The company has a market cap of $14.55 billion, a price-to-earnings ratio of 31.96, a PEG ratio of 9.49 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 (NYSE:UDR) last announced its 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 net margin of 8.34% and a return on equity of 3.70%. The business 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 earned $0.61 EPS. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. Research analysts predict that UDR will post 2.46 earnings per share for the current year.

UDR Announces Dividend

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

Insiders Place Their Bets

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction dated 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 transaction, the chief executive officer now directly owns 849,716 shares in the company, valued at $33,580,776.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.73% of the company’s stock.

Institutional Trading of UDR

Institutional investors have recently modified their holdings of the company. Principal Securities Inc. bought a new stake in shares of UDR in the fourth quarter valued at about $26,000. Fidelis Capital Partners LLC bought a new stake in shares of UDR in the first quarter valued at about $26,000. Family Firm Inc. bought a new stake in shares of UDR in the second quarter valued at about $26,000. Quest Partners LLC bought a new stake in shares of UDR in the fourth quarter valued at about $27,000. Finally, UMB Bank n.a. bought a new stake in shares of UDR in the second quarter valued at about $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.