UDR (NYSE:UDR) Price Target Raised to $49.00

UDR (NYSE:UDR) had its price objective lifted by equities researchers at Scotiabank from $45.00 to $49.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 3.97% from the company’s current price.

Several other brokerages have also commented on UDR. Wells Fargo & Company boosted their price target on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their target price on UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday. Wedbush lifted their price target on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lowered their price objective on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.28.

UDR Stock Performance

UDR stock remained flat at $47.13 during midday trading on Monday. The company’s stock had a trading volume of 735,299 shares, compared to its average volume of 2,589,727. The company has a market capitalization of $15.52 billion, a price-to-earnings ratio of 34.21, a PEG ratio of 10.21 and a beta of 0.85. UDR has a 12 month low of $30.95 and a 12 month high of $47.54. The company’s fifty day simple moving average is $42.37 and its 200 day simple moving average is $39.76. The company has a quick ratio of 5.82, a current ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The company had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. Equities analysts predict that UDR will post 2.46 earnings per share for the current year.

Hedge Funds Weigh In On UDR

Several institutional investors have recently added to or reduced their stakes in UDR. Sanctuary Advisors LLC acquired a new stake in UDR in the 2nd quarter worth about $488,000. Truist Financial Corp boosted its position in shares of UDR by 0.6% in the second quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock worth $2,744,000 after acquiring an additional 414 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in UDR in the second quarter valued at approximately $586,000. Creative Planning increased its position in UDR by 16.1% during the second quarter. Creative Planning now owns 15,732 shares of the real estate investment trust’s stock worth $647,000 after purchasing an additional 2,181 shares during the last quarter. Finally, Waterfall Asset Management LLC purchased a new position in UDR during the second quarter worth approximately $820,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.