Wells Fargo & Co Increases UDR (NYSE:UDR) Price Target to $47.00

UDR (NYSE:UDR) had its price objective raised by Wells Fargo & Co from $46.00 to $47.00 in a research report released on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has a market perform rating on the real estate investment trust’s stock.

A number of other brokerages have also weighed in on UDR. Zacks Investment Research lowered UDR from a buy rating to a hold rating in a report on Wednesday, May 15th. TheStreet raised UDR from a c rating to a b- rating in a report on Tuesday, July 30th. Barclays reissued a hold rating and issued a $46.00 price objective on shares of UDR in a report on Tuesday, April 16th. Finally, ValuEngine lowered UDR from a buy rating to a hold rating in a report on Tuesday, August 6th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $45.08.

Shares of UDR stock opened at $46.98 on Tuesday. The stock’s 50-day simple moving average is $46.13 and its 200-day simple moving average is $45.22. The company has a debt-to-equity ratio of 1.32, a quick ratio of 6.43 and a current ratio of 6.43. The firm has a market capitalization of $13.41 billion, a PE ratio of 23.97, a P/E/G ratio of 3.67 and a beta of 0.47. UDR has a fifty-two week low of $37.87 and a fifty-two week high of $47.73.



The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were paid a $0.343 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.37 dividend on an annualized basis and a dividend yield of 2.92%. UDR’s payout ratio is 69.90%.

In other news, CFO Joseph D. Fisher sold 3,250 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.41, for a total value of $150,832.50. Following the sale, the chief financial officer now owns 28,394 shares in the company, valued at $1,317,765.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jerry A. Davis sold 10,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $45.21, for a total value of $452,100.00. Following the completion of the sale, the chief operating officer now owns 193,065 shares in the company, valued at approximately $8,728,468.65. The disclosure for this sale can be found here. Insiders sold 18,250 shares of company stock worth $835,983 in the last 90 days. Company insiders own 2.85% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of UDR. Comerica Securities Inc. bought a new stake in shares of UDR in the 4th quarter valued at $236,000. Geode Capital Management LLC increased its stake in shares of UDR by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 4,572,291 shares of the real estate investment trust’s stock valued at $180,909,000 after acquiring an additional 458,784 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of UDR in the 1st quarter valued at $975,000. Retirement Systems of Alabama increased its stake in shares of UDR by 4.0% in the 1st quarter. Retirement Systems of Alabama now owns 128,337 shares of the real estate investment trust’s stock valued at $5,834,000 after acquiring an additional 4,899 shares in the last quarter. Finally, Pennsylvania Trust Co bought a new stake in shares of UDR in the 1st quarter valued at $655,000. Hedge funds and other institutional investors own 96.44% 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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