Truist Financial Increases UDR (NYSE:UDR) Price Target to $47.00

UDR (NYSE:UDR) had its price objective raised by Truist Financial from $44.00 to $47.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other research firms have also recently weighed in on UDR. Royal Bank of Canada lowered their price target on shares of UDR from $41.00 to $40.00 and set a sector perform rating on the stock in a research note on Thursday, August 1st. BMO Capital Markets upgraded shares of UDR from a market perform rating to an outperform rating and upped their target price for the stock from $39.00 to $45.00 in a research report on Monday, July 15th. Wedbush lifted their price target 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. Scotiabank upped their price target on UDR from $43.00 to $45.00 and gave the stock a sector perform rating in a report on Monday. Finally, Mizuho lifted their price objective on UDR from $35.00 to $38.00 and gave the stock a neutral rating in a report on Thursday, May 30th. Ten investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, UDR presently has an average rating of Hold and a consensus target price of $42.59.

UDR Price Performance

Shares of NYSE:UDR opened at $43.22 on Monday. UDR has a 52 week low of $30.95 and a 52 week high of $43.69. The company has a 50-day moving average price of $41.22 and a 200 day moving average price of $38.84. The company has a market cap of $14.25 billion, a P/E ratio of 31.32, a PEG 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 (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS 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 during the quarter, compared to analyst estimates of $413.75 million. During the same period in the prior year, the business earned $0.61 earnings per share. The firm’s quarterly revenue 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 company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.93%. The ex-dividend date was Wednesday, July 10th. UDR’s payout ratio is 123.19%.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction on 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 owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Hummer Financial Advisory Services Inc grew its holdings in UDR by 2.9% in the first quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock valued at $451,000 after purchasing an additional 335 shares during the period. Truist Financial Corp grew its stake in shares of UDR by 0.6% during the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock valued at $2,744,000 after buying an additional 414 shares during the period. Integrity Wealth Solutions LLC increased its holdings in shares of UDR by 8.2% during the 1st quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 484 shares during the last quarter. Covestor Ltd raised its position in shares of UDR by 18.3% in the 1st quarter. Covestor Ltd now owns 3,336 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 515 shares during the period. Finally, Telos Capital Management Inc. boosted its holdings in UDR by 1.6% in the first quarter. Telos Capital Management Inc. now owns 34,759 shares of the real estate investment trust’s stock valued at $1,300,000 after acquiring an additional 547 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

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.