Scotiabank Lowers UDR (NYSE:UDR) to Sector Perform

Scotiabank lowered shares of UDR (NYSE:UDR) from a sector outperform rating to a sector perform rating in a report issued on Wednesday morning, MarketBeat.com reports. The brokerage currently has $39.00 price target on the real estate investment trust’s stock.

UDR has been the subject of a number of other research reports. The Goldman Sachs Group assumed coverage on UDR in a research report on Thursday, February 22nd. They set a neutral rating and a $39.00 price objective for the company. Truist Financial cut their price objective on shares of UDR from $45.00 to $42.00 and set a buy rating for the company in a research report on Tuesday, April 9th. Piper Sandler raised shares of UDR from an underweight rating to a neutral rating and upped their price objective for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Mizuho lowered their target price on shares of UDR from $38.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Finally, UBS Group upgraded UDR from a neutral rating to a buy rating and boosted their price target for the company from $38.00 to $44.00 in a report on Thursday, April 25th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $41.44.

UDR Trading Up 1.8 %

Shares of UDR stock opened at $38.23 on Wednesday. UDR has a 1 year low of $30.95 and a 1 year high of $44.02. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 5.15. The business has a 50 day moving average price of $36.87 and a 200 day moving average price of $36.01. The company has a market capitalization of $12.59 billion, a P/E ratio of 27.70, a P/E/G ratio of 3.01 and a beta of 0.79.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were issued a $0.425 dividend. This is a positive change from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.70 annualized dividend and a yield of 4.45%. UDR’s dividend payout ratio (DPR) is presently 123.19%.

Institutional Investors Weigh In On UDR

Several institutional investors have recently bought and sold shares of UDR. Norges Bank purchased a new position in shares of UDR in the 4th quarter valued at $1,065,482,000. Cohen & Steers Inc. raised its position in UDR by 3.8% in the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock valued at $1,025,351,000 after purchasing an additional 984,807 shares during the period. FMR LLC raised its position in UDR by 3.4% in the third quarter. FMR LLC now owns 12,081,005 shares of the real estate investment trust’s stock valued at $430,929,000 after purchasing an additional 394,581 shares during the period. Centersquare Investment Management LLC lifted its stake in shares of UDR by 35.9% during the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock worth $310,807,000 after purchasing an additional 2,145,242 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of UDR by 22.3% in the first quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after buying an additional 1,359,804 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

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.