UDR (NYSE:UDR) Given New $48.00 Price Target at Wells Fargo & Company

UDR (NYSE:UDR) had its target price increased by Wells Fargo & Company from $41.00 to $48.00 in a research note released on Monday morning, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other research analysts have also issued reports on the stock. Scotiabank increased their price target on shares of UDR from $42.00 to $43.00 and gave the stock a sector perform rating in a research report on Wednesday, August 7th. 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. Wedbush boosted their price target on UDR from $45.00 to $49.00 and gave the company an outperform rating in a research note on Monday, August 5th. Morgan Stanley increased their price objective on UDR from $37.00 to $40.00 and gave the stock an equal weight rating in a research note on Tuesday, May 14th. Finally, BMO Capital Markets upgraded shares of UDR from a market perform rating to an outperform rating and boosted their target price for the company from $39.00 to $45.00 in a research note on Monday, July 15th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $42.59.

UDR Price Performance

Shares of NYSE:UDR opened at $43.22 on Monday. The firm has a market capitalization of $14.25 billion, a PE ratio of 31.32, a PEG ratio of 9.34 and a beta of 0.83. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. UDR has a 1-year low of $30.95 and a 1-year high of $43.69. The business’s 50 day moving average is $41.22 and its 200-day moving average is $38.84.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The business had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. During the same quarter in the prior year, the firm earned $0.61 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts predict that UDR will post 2.46 earnings per share for the current year.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 3.93%. The ex-dividend date was Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is presently 123.19%.

Insider Buying and Selling at UDR

In related 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 value of $3,556,800.00. Following the completion of the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at $33,580,776.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 3.73% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in UDR. Truist Financial Corp grew its position 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 worth $2,744,000 after buying an additional 414 shares during the period. Point72 Asset Management L.P. bought a new position in UDR during the second quarter worth about $586,000. Creative Planning grew its stake in UDR by 16.1% in the second quarter. Creative Planning now owns 15,732 shares of the real estate investment trust’s stock valued at $647,000 after acquiring an additional 2,181 shares during the period. Waterfall Asset Management LLC bought a new stake in shares of UDR in the second quarter worth about $820,000. Finally, Lighthouse Investment Partners LLC acquired a new stake in shares of UDR during the second quarter worth about $10,699,000. 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.