UDR (NYSE:UDR) Given “Underweight” Rating at Piper Sandler

Piper Sandler restated their underweight rating on shares of UDR (NYSE:UDR) in a research note released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $34.00 price target on the real estate investment trust’s stock.

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft started coverage on UDR in a research note on Tuesday, January 30th. They issued a hold rating and a $40.00 target price on the stock. Wells Fargo & Company raised UDR from an equal weight rating to an overweight rating and raised their price objective for the company from $34.00 to $39.00 in a research report on Monday, March 4th. Barclays cut UDR from an overweight rating to an equal weight rating and dropped their price target for the stock from $46.00 to $37.00 in a report on Tuesday, February 20th. The Goldman Sachs Group initiated coverage on UDR in a research note on Thursday, February 22nd. They set a neutral rating and a $39.00 price objective on the stock. Finally, KeyCorp decreased their price target on UDR from $48.00 to $45.00 and set an overweight rating on the stock in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, UDR has an average rating of Hold and an average target price of $41.76.

UDR Price Performance

UDR stock opened at $37.41 on Tuesday. The business has a 50 day simple moving average of $36.46 and a 200 day simple moving average of $35.94. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.15 and a quick ratio of 5.15. UDR has a one year low of $30.95 and a one year high of $44.02. The company has a market capitalization of $12.32 billion, a PE ratio of 27.92, a price-to-earnings-growth ratio of 2.96 and a beta of 0.80.

UDR Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.425 per share. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.54%. The ex-dividend date is Tuesday, April 9th. UDR’s dividend payout ratio (DPR) is 126.87%.

Institutional Investors Weigh In On UDR

Several hedge funds have recently modified their holdings of UDR. Private Advisor Group LLC lifted its position in UDR by 4.8% during the first quarter. Private Advisor Group LLC now owns 10,150 shares of the real estate investment trust’s stock valued at $582,000 after buying an additional 461 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of UDR by 9.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,015 shares of the real estate investment trust’s stock valued at $2,296,000 after purchasing an additional 3,535 shares during the period. Aviva PLC raised its stake in shares of UDR by 68.5% during the first quarter. Aviva PLC now owns 72,356 shares of the real estate investment trust’s stock valued at $4,151,000 after purchasing an additional 29,403 shares during the period. Allianz Asset Management GmbH raised its stake in shares of UDR by 0.6% during the first quarter. Allianz Asset Management GmbH now owns 465,509 shares of the real estate investment trust’s stock valued at $26,706,000 after purchasing an additional 2,630 shares during the period. Finally, Prudential PLC purchased a new stake in shares of UDR during the first quarter valued at approximately $369,000. 97.84% of the stock is owned by institutional investors and hedge funds.

About UDR

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.