Citigroup Boosts UDR (UDR) Price Target to $41.00

UDR (NYSE:UDR) had its target price hoisted by Citigroup from $40.00 to $41.00 in a report issued on Thursday morning. Citigroup currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts have also recently weighed in on the company. ValuEngine raised UDR from a hold rating to a buy rating in a report on Wednesday, October 24th. Evercore ISI cut UDR from an in-line rating to an underperform rating in a report on Sunday, October 21st. Societe Generale assumed coverage on UDR in a report on Tuesday, October 16th. They set a sell rating for the company. Barclays reaffirmed a hold rating and set a $39.00 price target on shares of UDR in a report on Sunday, October 14th. Finally, Stifel Nicolaus raised their price target on UDR from $40.00 to $43.00 and gave the company a buy rating in a report on Tuesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. UDR presently has an average rating of Hold and an average target price of $39.57.

UDR stock traded down $0.33 during midday trading on Thursday, reaching $38.92. 1,639,277 shares of the company’s stock traded hands, compared to its average volume of 1,861,434. UDR has a 1-year low of $32.88 and a 1-year high of $41.13. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 20.81, a P/E/G ratio of 3.27 and a beta of 0.32. The company has a debt-to-equity ratio of 1.49, a current ratio of 5.97 and a quick ratio of 6.03.

UDR (NYSE:UDR) last released its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. UDR had a return on equity of 7.09% and a net margin of 18.43%. The firm had revenue of $266.10 million during the quarter, compared to analysts’ expectations of $258.90 million. During the same period last year, the firm posted $0.06 EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, equities analysts expect that UDR will post 1.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a $0.3323 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 3.41%. This is a positive change from UDR’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, October 9th. UDR’s dividend payout ratio (DPR) is presently 68.98%.

In other news, SVP Harry G. Alcock sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $40.45, for a total value of $404,500.00. Following the transaction, the senior vice president now directly owns 126,123 shares in the company, valued at approximately $5,101,675.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas W. Toomey sold 40,000 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $39.80, for a total value of $1,592,000.00. Following the completion of the transaction, the chief executive officer now owns 1,768,753 shares in the company, valued at $70,396,369.40. The disclosure for this sale can be found here. Insiders sold a total of 104,773 shares of company stock worth $4,157,729 over the last quarter. Corporate insiders own 3.16% of the company’s stock.

Large investors have recently bought and sold shares of the company. Piedmont Investment Advisors LLC bought a new position in shares of UDR in the 2nd quarter worth $118,000. American National Bank bought a new position in shares of UDR in the 2nd quarter worth $130,000. Point72 Hong Kong Ltd boosted its position in shares of UDR by 1,406.2% in the 2nd quarter. Point72 Hong Kong Ltd now owns 3,886 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 3,628 shares during the last quarter. Lourd Capital LLC bought a new position in shares of UDR in the 3rd quarter worth $217,000. Finally, CAPROCK Group Inc. bought a new position in shares of UDR in the 3rd quarter worth $219,000. Institutional investors and hedge funds own 95.35% 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 properties in targeted U.S.

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Analyst Recommendations for UDR (NYSE:UDR)

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