UDR’s (UDR) “Hold” Rating Reaffirmed at BMO Capital Markets
BMO Capital Markets reaffirmed their hold rating on shares of UDR (NYSE:UDR) in a research report sent to investors on Thursday, AnalystRatings.com reports. They currently have a $51.00 price target on the real estate investment trust’s stock.
Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada reiterated a hold rating and set a $48.00 price target on shares of UDR in a research report on Wednesday, December 18th. Citigroup upgraded shares of UDR from a neutral rating to a buy rating and lifted their price target for the company from $49.00 to $54.00 in a research report on Thursday, December 12th. TheStreet cut shares of UDR from a b- rating to a c+ rating in a research report on Friday, November 15th. Mizuho cut shares of UDR from a buy rating to a neutral rating and dropped their price target for the company from $52.00 to $50.00 in a research report on Thursday, November 7th. Finally, Goldman Sachs Group initiated coverage on shares of UDR in a research report on Friday, November 8th. They set a neutral rating and a $53.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of $50.67.
UDR stock traded up $0.71 during trading on Thursday, reaching $50.32. 2,099,418 shares of the stock were exchanged, compared to its average volume of 1,441,925. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 1.22. The business has a 50 day moving average price of $47.52 and a 200-day moving average price of $47.77. UDR has a 1 year low of $43.04 and a 1 year high of $50.61. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 85.29, a P/E/G ratio of 3.99 and a beta of 0.42.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 10th were issued a $0.3425 dividend. This represents a $1.37 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date was Thursday, January 9th. UDR’s dividend payout ratio (DPR) is currently 69.90%.
In related news, COO Jerry A. Davis sold 10,000 shares of UDR stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.72, for a total value of $467,200.00. Following the completion of the transaction, the chief operating officer now owns 173,065 shares in the company, valued at $8,085,596.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.85% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund lifted its stake in UDR by 0.4% in the third quarter. Texas Permanent School Fund now owns 54,549 shares of the real estate investment trust’s stock worth $2,645,000 after acquiring an additional 205 shares during the last quarter. CWM LLC lifted its stake in UDR by 19.3% in the third quarter. CWM LLC now owns 1,314 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 213 shares during the last quarter. Wetherby Asset Management Inc. lifted its stake in UDR by 5.1% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,554 shares of the real estate investment trust’s stock worth $213,000 after acquiring an additional 222 shares during the last quarter. CSat Investment Advisory L.P. lifted its stake in UDR by 25.1% in the fourth quarter. CSat Investment Advisory L.P. now owns 1,280 shares of the real estate investment trust’s stock worth $60,000 after acquiring an additional 257 shares during the last quarter. Finally, Chesapeake Wealth Management lifted its stake in UDR by 1.4% in the third quarter. Chesapeake Wealth Management now owns 26,163 shares of the real estate investment trust’s stock worth $1,268,000 after acquiring an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 94.87% of the company’s stock.
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 properties in targeted U.S.
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