JPMorgan Chase & Co. Increases UDR (NYSE:UDR) Price Target to $50.00

UDR (NYSE:UDR) had its price target boosted by JPMorgan Chase & Co. from $43.00 to $50.00 in a research note released on Monday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the real estate investment trust’s stock.

Several other research analysts have also recently issued reports on the company. The Goldman Sachs Group assumed coverage on UDR in a research report on Wednesday, September 4th. They set a sell rating and a $42.00 price objective for the company. Truist Financial upped their price target on UDR from $44.00 to $47.00 and gave the company a buy rating in a report on Monday, August 26th. Wells Fargo & Company raised their price objective on shares of UDR from $41.00 to $48.00 and gave the stock an overweight rating in a report on Monday, August 26th. Piper Sandler boosted their price objective on shares of UDR from $40.00 to $46.00 and gave the stock a neutral rating in a research report on Monday, August 26th. Finally, Scotiabank increased their target price on shares of UDR from $43.00 to $45.00 and gave the company a sector perform rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $44.28.

UDR Stock Performance

Shares of UDR stock opened at $46.14 on Monday. The business has a 50-day simple moving average of $42.83 and a 200-day simple moving average of $40.00. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. UDR has a one year low of $30.95 and a one year high of $47.55. The company has a market cap of $15.22 billion, a PE ratio of 33.44, a P/E/G ratio of 10.30 and a beta of 0.85.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. During the same quarter last year, the firm earned $0.61 EPS. The company’s revenue was up 2.7% on a year-over-year basis. On average, equities research analysts forecast that UDR will post 2.46 EPS for the current fiscal year.

Institutional Investors Weigh In On UDR

Several hedge funds have recently modified their holdings of UDR. Principal Securities Inc. purchased a new position in UDR during the 4th quarter worth $26,000. Fidelis Capital Partners LLC purchased a new position in UDR during the first quarter worth about $26,000. Family Firm Inc. purchased a new position in UDR during the second quarter worth about $26,000. Quest Partners LLC acquired a new stake in UDR in the fourth quarter valued at about $27,000. Finally, UMB Bank n.a. purchased a new stake in UDR in the 2nd quarter valued at approximately $33,000. 97.84% of the stock is owned by institutional investors and hedge funds.

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.