Evercore ISI Upgrades UDR Inc. (UDR) to Buy
UDR Inc. (NYSE:UDR) was upgraded by analysts at Evercore ISI from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $38.00 target price on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 11.14% from the stock’s previous close.
Several other brokerages have also weighed in on UDR. Mizuho raised UDR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $37.00 to $41.00 in a report on Monday, August 1st. JPMorgan Chase & Co. reissued a “buy” rating and issued a $40.00 price objective on shares of UDR in a report on Wednesday, November 16th. BMO Capital Markets lowered UDR from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $38.00 to $35.00 in a report on Tuesday, October 25th. BTIG Research began coverage on UDR in a report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price objective for the company. Finally, Citigroup Inc. boosted their price objective on UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.46.
UDR (NYSE:UDR) opened at 34.19 on Monday. The firm has a market cap of $9.14 billion, a PE ratio of 41.39 and a beta of 0.39. UDR has a 52-week low of $32.79 and a 52-week high of $38.61. The firm’s 50-day moving average price is $33.96 and its 200 day moving average price is $35.42.
UDR (NYSE:UDR) last announced its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.01. UDR had a return on equity of 7.52% and a net margin of 22.79%. The business had revenue of $243.25 million for the quarter, compared to analyst estimates of $239.85 million. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. On average, equities analysts anticipate that UDR will post $1.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Thursday, October 6th. This represents a $1.18 annualized dividend and a dividend yield of 3.45%. UDR’s dividend payout ratio is presently 145.68%.
TRADEMARK VIOLATION WARNING: “Evercore ISI Upgrades UDR Inc. (UDR) to Buy” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this report on another site, it was illegally copied and reposted in violation of United States & international trademark & copyright law. The correct version of this report can be read at https://www.thecerbatgem.com/2016/11/30/evercore-isi-upgrades-udr-inc-udr-to-buy.html.
In other news, Director Clinton D. Mcdonnough bought 3,000 shares of the business’s stock in a transaction on Friday, September 9th. The stock was purchased at an average cost of $34.54 per share, for a total transaction of $103,620.00. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $241,780. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Warren L. Troupe sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $36.70, for a total value of $550,500.00. Following the completion of the sale, the vice president now owns 562,903 shares of the company’s stock, valued at $20,658,540.10. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. 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 worth $1,646,518,000 after buying an additional 1,283,909 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 worth $1,599,829,000 after buying an additional 2,719,419 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 worth $967,182,000 after buying an additional 2,817,406 shares during the period. Daiwa Securities Group Inc. increased its stake in UDR by 5.3% in the third quarter. Daiwa Securities Group Inc. now owns 17,807,981 shares of the real estate investment trust’s stock worth $640,910,000 after buying an additional 896,521 shares during the period. Finally, BlackRock Fund Advisors increased its stake in UDR by 3.8% in the third quarter. BlackRock Fund Advisors now owns 11,138,382 shares of the real estate investment trust’s stock worth $400,870,000 after buying an additional 412,547 shares during the period. Hedge funds and other institutional investors own 99.55% of the company’s stock.
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.
Receive News & Stock Ratings for UDR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR Inc. and related stocks with our FREE daily email newsletter.