UDR’s (UDR) Outperform Rating Reiterated at Wedbush

UDR (NYSE:UDR)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price target on the real estate investment trust’s stock. Wedbush’s target price indicates a potential upside of 4.66% from the company’s current price.

Several other research analysts have also recently weighed in on UDR. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $34.00 to $40.00 in a research report on Wednesday, April 10th. Wells Fargo & Company upgraded UDR from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft began coverage on UDR in a report on Tuesday, January 30th. They set a “hold” rating and a $40.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $37.00 target price on shares of UDR in a report on Monday, February 26th. Finally, The Goldman Sachs Group began coverage on UDR in a report on Thursday, February 22nd. They set a “neutral” rating and a $39.00 target price on the stock. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.78.

UDR Stock Performance

UDR traded up $0.31 during trading hours on Monday, reaching $38.22. The company’s stock had a trading volume of 784,570 shares, compared to its average volume of 2,919,672. UDR has a 52 week low of $30.95 and a 52 week high of $44.02. The company’s 50-day moving average is $36.73 and its 200-day moving average is $35.96. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The firm has a market cap of $12.59 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80.

Institutional Investors Weigh In On UDR

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in UDR in the fourth quarter valued at approximately $1,065,482,000. Cohen & Steers Inc. boosted its position in shares of UDR by 3.8% during the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock valued at $1,025,351,000 after buying an additional 984,807 shares during the last quarter. FMR LLC boosted its position in shares of UDR by 3.4% during the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock valued at $430,929,000 after buying an additional 394,581 shares during the last quarter. Centersquare Investment Management LLC boosted its position in shares of UDR by 35.9% during 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 buying an additional 2,145,242 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of UDR by 7.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,108,077 shares of the real estate investment trust’s stock valued at $233,878,000 after buying an additional 403,377 shares during the last quarter. 97.84% of the stock is currently owned by institutional investors.

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.