UDR Inc. (UDR) Stock Rating Reaffirmed by JPMorgan Chase & Co.
UDR Inc. (NYSE:UDR)‘s stock had its “buy” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Wednesday. They currently have a $40.00 target price on the real estate investment trust’s stock. JPMorgan Chase & Co.’s target price would indicate a potential upside of 19.98% from the stock’s previous close.
Several other equities research analysts have also commented on UDR. Zacks Investment Research raised shares of UDR from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. Mizuho raised shares of UDR from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $37.00 to $41.00 in a report on Monday, August 1st. Citigroup Inc. boosted their price target on shares of UDR from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. BTIG Research started coverage on shares of UDR in a report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target for the company. Finally, BMO Capital Markets lowered shares of UDR from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $38.00 to $35.00 in a report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $38.58.
Shares of UDR (NYSE:UDR) opened at 33.34 on Wednesday. The stock has a 50 day moving average of $34.30 and a 200 day moving average of $35.58. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 40.36 and a beta of 0.39. UDR has a 12-month low of $32.79 and a 12-month high of $38.61.
UDR (NYSE:UDR) last posted its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. UDR had a net margin of 22.79% and a return on equity of 7.52%. The firm earned $243.25 million during the quarter, compared to analysts’ expectations of $239.85 million. During the same period in the previous year, the business posted $0.42 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts predict that UDR will post $1.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th were issued a $0.295 dividend. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.18 annualized dividend and a yield of 3.54%. UDR’s payout ratio is 145.68%.
In related news, Director Clinton D. Mcdonnough purchased 3,000 shares of UDR stock in a transaction dated Friday, September 9th. The shares were acquired at an average cost of $34.54 per share, with a total value of $103,620.00. Following the purchase, the director now owns 7,000 shares of the company’s stock, valued at $241,780. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Warren L. Troupe sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total transaction of $550,500.00. Following the completion of 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 company insiders.
Several large investors have recently added to or reduced their stakes in UDR. Sumitomo Mitsui Asset Management Company LTD increased its stake in UDR by 0.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 30,966 shares of the real estate investment trust’s stock worth $1,114,000 after buying an additional 152 shares during the period. Mn Services Vermogensbeheer B.V. increased its stake in UDR by 2.6% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 6,659 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 166 shares during the period. Hartford Investment Management Co. increased its stake in UDR by 0.3% in the second quarter. Hartford Investment Management Co. now owns 65,551 shares of the real estate investment trust’s stock worth $2,420,000 after buying an additional 174 shares during the period. Stifel Financial Corp increased its stake in UDR by 0.8% in the second quarter. Stifel Financial Corp now owns 22,312 shares of the real estate investment trust’s stock worth $823,000 after buying an additional 176 shares during the period. Finally, Utah Retirement Systems increased its stake in UDR by 0.3% in the third quarter. Utah Retirement Systems now owns 57,843 shares of the real estate investment trust’s stock worth $2,081,000 after buying an additional 200 shares during the period. 98.22% of the stock is currently owned by institutional investors and hedge funds.
UDR Company Profile
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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