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

UDR (NYSE:UDR) had its target price hoisted by Scotiabank from $43.00 to $45.00 in a research report released on Monday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

UDR has been the subject of a number of other research reports. Wells Fargo & Company boosted their price objective on UDR from $41.00 to $48.00 and gave the company an overweight rating in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of UDR from $42.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Truist Financial lifted their price objective on shares of UDR from $42.00 to $44.00 and gave the company a buy rating in a research report on Monday, June 24th. Wedbush upped their target price on shares of UDR from $45.00 to $49.00 and gave the stock an outperform rating in a research report on Monday, August 5th. Finally, Morgan Stanley lifted their price target on UDR from $37.00 to $40.00 and gave the company an equal weight rating in a report on Tuesday, May 14th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, UDR currently has an average rating of Hold and a consensus price target of $42.59.

UDR Trading Down 0.2 %

UDR stock opened at $43.22 on Monday. UDR has a 1 year low of $30.95 and a 1 year high of $43.69. The firm’s 50-day moving average is $41.22 and its 200-day moving average is $38.84. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. 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.

UDR (NYSE:UDR) last released its quarterly earnings data 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 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 last year, the company earned $0.61 EPS. UDR’s revenue was up 2.7% compared to the same quarter last year. On average, equities analysts expect 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. Stockholders of record on Wednesday, July 10th were paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Wednesday, July 10th. UDR’s dividend payout ratio is presently 123.19%.

Insider Activity

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following 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 document filed with the SEC, which is available through this hyperlink. Insiders own 3.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UDR. International Assets Investment Management LLC boosted its stake in shares of UDR by 3,730.9% during the 4th quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock worth $1,430,000 after acquiring an additional 36,376 shares in the last quarter. Van ECK Associates Corp increased its stake in UDR by 14.5% in the 4th quarter. Van ECK Associates Corp now owns 128,798 shares of the real estate investment trust’s stock worth $4,932,000 after purchasing an additional 16,289 shares in the last quarter. Victory Capital Management Inc. raised its holdings in UDR by 307.0% during the 4th quarter. Victory Capital Management Inc. now owns 100,750 shares of the real estate investment trust’s stock worth $3,858,000 after buying an additional 75,993 shares during the period. New York Life Investment Management LLC raised its holdings in UDR by 68.7% during the 4th quarter. New York Life Investment Management LLC now owns 94,167 shares of the real estate investment trust’s stock worth $3,606,000 after buying an additional 38,335 shares during the period. Finally, National Bank of Canada FI lifted its stake in UDR by 9.4% during the fourth quarter. National Bank of Canada FI now owns 70,710 shares of the real estate investment trust’s stock valued at $2,732,000 after buying an additional 6,051 shares in 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.