Brokerages Set UDR Inc. (UDR) Price Target at $38.15
UDR Inc. (NYSE:UDR) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the firm. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $38.29.
A number of brokerages have commented on UDR. Citigroup Inc. boosted their price target on shares of UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Tuesday, August 2nd. Zacks Investment Research upgraded shares of UDR from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Mizuho upgraded shares of UDR from a “neutral” rating to a “buy” rating and boosted their price target for the company from $37.00 to $41.00 in a research note on Monday, August 1st. Cantor Fitzgerald restated a “buy” rating and set a $39.50 price target on shares of UDR in a research note on Monday, July 18th. Finally, BMO Capital Markets lowered shares of UDR from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $38.00 to $35.00 in a research note on Tuesday, October 25th.
Shares of UDR (NYSE:UDR) opened at 34.03 on Wednesday. UDR has a 1-year low of $32.79 and a 1-year high of $38.61. The stock’s 50 day moving average is $34.51 and its 200-day moving average is $35.61. The firm has a market cap of $9.09 billion, a PE ratio of 41.20 and a beta of 0.39.
UDR (NYSE:UDR) last released its quarterly earnings data on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company earned $243.25 million during the quarter, compared to analyst estimates of $239.85 million. UDR had a net margin of 22.79% and a return on equity of 7.52%. UDR’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Analysts expect that UDR will post $1.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Tuesday, October 11th were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Thursday, October 6th. UDR’s dividend payout ratio (DPR) is currently 145.68%.
In other UDR news, Director Clinton D. Mcdonnough acquired 2,000 shares of the company’s stock in a transaction on Wednesday, August 24th. The shares were acquired at an average cost of $35.65 per share, with a total value of $71,300.00. Following the completion of the acquisition, the director now directly owns 4,000 shares in the company, valued at $142,600. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Warren L. Troupe sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total transaction of $550,500.00. Following the sale, the vice president now directly owns 562,903 shares in the company, valued at $20,658,540.10. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its stake in UDR by 29.1% in the second quarter. Daiwa Securities Group Inc. now owns 16,911,460 shares of the real estate investment trust’s stock valued at $624,371,000 after buying an additional 3,810,916 shares during the period. FMR LLC increased its stake in UDR by 12.1% in the second quarter. FMR LLC now owns 26,196,706 shares of the real estate investment trust’s stock valued at $967,182,000 after buying an additional 2,817,406 shares during the period. Cohen & Steers Inc. increased its stake in UDR by 6.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the real estate investment trust’s stock valued at $1,599,829,000 after buying an additional 2,719,419 shares during the period. Bank of New York Mellon Corp increased its stake in UDR by 53.2% in the third quarter. Bank of New York Mellon Corp now owns 7,312,669 shares of the real estate investment trust’s stock valued at $263,183,000 after buying an additional 2,538,172 shares during the period. Finally, Vanguard Group Inc. increased its stake in UDR by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,596,913 shares of the real estate investment trust’s stock valued at $1,646,518,000 after buying an additional 1,283,909 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.
UDR, Inc is a real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Company operates through two segments: Same-Store Communities and Non-Mature Communities/Other.
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