UDR (NYSE:UDR) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of UDR (NYSE:UDR) in a report issued on Wednesday morning, MarketBeat.com reports. The firm issued a sell rating and a $42.00 price objective on the real estate investment trust’s stock.

Other analysts have also recently issued reports about the company. Evercore ISI lifted their price objective on UDR from $40.00 to $42.00 and gave the company an in-line rating in a research report on Wednesday, August 28th. Morgan Stanley lifted their price objective on UDR from $37.00 to $40.00 and gave the company an equal weight rating in a research report on Tuesday, May 14th. Truist Financial lifted their price objective on UDR from $44.00 to $47.00 and gave the company a buy rating in a research report on Monday, August 26th. UBS Group lifted their target price on shares of UDR from $44.00 to $48.00 and gave the company a buy rating in a report on Thursday, July 18th. Finally, Scotiabank lifted their target price on shares of UDR from $43.00 to $45.00 and gave the company a sector perform rating in a report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $42.82.

UDR Stock Down 0.8 %

Shares of NYSE:UDR opened at $44.05 on Wednesday. The stock’s 50-day moving average price is $41.86 and its 200-day moving average price is $39.37. UDR has a 12-month low of $30.95 and a 12-month high of $45.10. The stock has a market capitalization of $14.51 billion, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 9.78 and a beta of 0.85. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a net margin of 8.34% and a return on equity of 3.70%. The company had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same period last year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities analysts anticipate that UDR will post 2.46 earnings per share for the current year.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were issued a $0.425 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.70 dividend on an annualized basis and a yield of 3.86%. UDR’s payout ratio is currently 123.19%.

Institutional Investors Weigh In On UDR

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in UDR by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after purchasing an additional 233,475 shares during the period. Norges Bank bought a new stake in UDR in the 4th quarter worth approximately $1,065,482,000. Cohen & Steers Inc. grew its position in UDR by 3.8% in the 4th quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock worth $1,025,351,000 after purchasing an additional 984,807 shares during the period. Centersquare Investment Management LLC grew its position in UDR by 17.7% in the 1st quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after purchasing an additional 1,433,463 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in UDR by 22.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after purchasing an additional 1,359,804 shares during the period. Institutional investors own 97.84% of the company’s stock.

UDR Company Profile

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.