UDR (NYSE:UDR) Price Target Raised to $42.00

UDR (NYSE:UDR) had its price objective upped by Evercore ISI from $40.00 to $42.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Several other research firms also recently issued reports on UDR. JPMorgan Chase & Co. lifted their price objective on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a report on Monday, June 17th. Wells Fargo & Company upped their price target on shares of UDR from $41.00 to $48.00 and gave the company an overweight rating in a report on Monday, August 26th. Wedbush increased their price objective on shares of UDR from $45.00 to $49.00 and gave the company an outperform rating in a research note on Monday, August 5th. Truist Financial boosted their target price on shares of UDR from $44.00 to $47.00 and gave the stock a buy rating in a research report on Monday, August 26th. Finally, Piper Sandler increased their price target on shares of UDR from $40.00 to $46.00 and gave the stock a neutral rating in a research report on Monday, August 26th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, UDR presently has an average rating of Hold and a consensus target price of $42.65.

UDR Stock Up 0.9 %

NYSE UDR opened at $44.51 on Wednesday. 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 fifty-two week low of $30.95 and a fifty-two week high of $44.53. The business has a 50 day moving average price of $41.50 and a two-hundred day moving average price of $39.04. The stock has a market cap of $14.68 billion, a PE ratio of 32.25, a P/E/G ratio of 9.49 and a beta of 0.83.

UDR (NYSE:UDR) last released its quarterly 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 firm had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The business’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS. As a group, sell-side analysts predict that UDR will post 2.46 EPS for the current fiscal year.

UDR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend 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 business’s stock in a transaction on 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 $33,580,776.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.73% of the company’s stock.

Institutional Investors Weigh In On UDR

Several large investors have recently made changes to their positions in UDR. Norges Bank bought a new stake in shares of UDR during the fourth quarter valued at about $1,065,482,000. Capital Research Global Investors acquired a new stake in shares of UDR in the 1st quarter worth approximately $176,137,000. Centersquare Investment Management LLC boosted its holdings in shares of UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock valued at $310,807,000 after acquiring an additional 2,145,242 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of UDR in the fourth quarter valued at approximately $79,897,000. Finally, 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 valued at $143,990,000 after acquiring an additional 1,874,096 shares during the period. 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.