UDR (NYSE:UDR) Downgraded to “Sector Perform” at Scotiabank

Scotiabank cut shares of UDR (NYSE:UDR) from a sector outperform rating to a sector perform rating in a report released on Wednesday morning, Marketbeat reports. They currently have $39.00 target price on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on the company. Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a research report on Tuesday, January 30th. They set a hold rating and a $40.00 price target on the stock. Morgan Stanley reissued an equal weight rating and issued a $37.00 price target on shares of UDR in a report on Monday, February 26th. Truist Financial decreased their price objective on shares of UDR from $45.00 to $42.00 and set a buy rating on the stock in a research report on Tuesday, April 9th. UBS Group raised UDR from a neutral rating to a buy rating and upped their price target for the company from $38.00 to $44.00 in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group began coverage on UDR in a research report on Thursday, February 22nd. They issued a neutral rating and a $39.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $41.44.

UDR Stock Performance

UDR stock opened at $38.23 on Wednesday. The firm has a fifty day simple moving average of $36.92 and a two-hundred day simple moving average of $36.02. UDR has a twelve month low of $30.95 and a twelve month high of $44.02. The company has a market capitalization of $12.59 billion, a PE ratio of 27.70, a P/E/G ratio of 3.01 and a beta of 0.79. The company has a quick ratio of 5.15, a current ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were issued a $0.425 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This is a boost from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a yield of 4.45%. UDR’s dividend payout ratio (DPR) is 123.19%.

Institutional Investors Weigh In On UDR

Large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in 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. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in UDR by 79.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock worth $70,087,000 after buying an additional 809,273 shares in the last quarter. IFM Investors Pty Ltd raised its position in shares of UDR by 1.3% during the fourth quarter. IFM Investors Pty Ltd now owns 66,266 shares of the real estate investment trust’s stock worth $2,537,000 after purchasing an additional 847 shares during the period. Daiwa Securities Group Inc. lifted its holdings 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 purchasing an additional 403,377 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of UDR during the third quarter valued at $1,088,000. 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.