UDR (NYSE:UDR) Price Target Cut to $48.00 by Analysts at Scotiabank

UDR (NYSE:UDR) had its target price cut by Scotiabank from $51.00 to $48.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

UDR has been the topic of several other research reports. Zelman & Associates reiterated a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $46.00 in a research note on Monday, March 10th. Royal Bank of Canada boosted their price objective on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, May 8th. Mizuho decreased their price objective on UDR from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Finally, Barclays boosted their price objective on UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.38.

UDR Stock Down 1.8%

UDR stock opened at $41.19 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. The business’s 50-day simple moving average is $41.32 and its two-hundred day simple moving average is $42.52. The company has a market cap of $13.65 billion, a PE ratio of 164.76, a PEG ratio of 8.67 and a beta of 0.83. UDR has a fifty-two week low of $36.61 and a fifty-two week high of $47.55.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $419.84 million for the quarter, compared to the consensus estimate of $421.23 million. UDR had a return on equity of 2.65% and a net margin of 5.36%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. Equities analysts anticipate that UDR will post 2.51 EPS for the current year.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 dividend on an annualized basis and a yield of 4.18%. UDR’s payout ratio is 491.43%.

Hedge Funds Weigh In On UDR

A number of large investors have recently bought and sold shares of the business. Invst LLC acquired a new position in UDR in the 1st quarter worth about $757,000. Strs Ohio acquired a new position in shares of UDR during the first quarter valued at approximately $36,506,000. Advisors Capital Management LLC acquired a new position in shares of UDR during the first quarter valued at approximately $229,000. Jane Street Group LLC raised its holdings in shares of UDR by 35.0% during the first quarter. Jane Street Group LLC now owns 14,028 shares of the real estate investment trust’s stock valued at $634,000 after acquiring an additional 3,637 shares during the last quarter. Finally, Bayforest Capital Ltd raised its holdings in shares of UDR by 325.9% during the first quarter. Bayforest Capital Ltd now owns 5,413 shares of the real estate investment trust’s stock valued at $245,000 after acquiring an additional 4,142 shares during the last quarter. Institutional investors and hedge funds own 97.84% 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 communities in targeted U.S.