Mizuho Boosts UDR (NYSE:UDR) Price Target to $38.00

UDR (NYSE:UDRFree Report) had its price objective increased by Mizuho from $35.00 to $38.00 in a research report sent to investors on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

UDR has been the subject of a number of other research reports. Piper Sandler raised shares of UDR from an underweight rating to a neutral rating and lifted their target price for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Morgan Stanley lifted their price target on shares of UDR from $37.00 to $40.00 and gave the company an equal weight rating in a research note on Tuesday, May 14th. Wells Fargo & Company raised shares of UDR from an equal weight rating to an overweight rating and lifted their price target for the company from $34.00 to $39.00 in a research note on Monday, March 4th. Scotiabank lifted their price target on shares of UDR from $39.00 to $42.00 and gave the company a sector perform rating in a research note on Tuesday, May 14th. Finally, Barclays downgraded shares of UDR from an overweight rating to an equal weight rating and decreased their price target for the company from $46.00 to $37.00 in a research note on Tuesday, February 20th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average price target of $40.65.

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UDR Price Performance

Shares of NYSE UDR opened at $38.62 on Thursday. UDR has a twelve month low of $30.95 and a twelve month high of $44.02. The firm has a fifty day simple moving average of $37.78 and a 200 day simple moving average of $36.86. The company has a market capitalization of $12.72 billion, a PE ratio of 27.99, a P/E/G ratio of 8.54 and a beta of 0.79. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.49.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This is a boost from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a yield of 4.40%. UDR’s payout ratio is 123.19%.

Insider Buying and Selling

In related news, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $171,765.00. Following the transaction, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in UDR in the fourth quarter valued at about $26,000. Fidelis Capital Partners LLC purchased a new position in UDR in the first quarter valued at about $26,000. Quest Partners LLC purchased a new position in UDR in the fourth quarter valued at about $27,000. Parkside Financial Bank & Trust boosted its stake in UDR by 225.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 754 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in UDR by 87.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 669 shares during the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

About UDR

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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.

Further Reading

Analyst Recommendations for UDR (NYSE:UDR)

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