UDR (NYSE:UDR) Price Target Raised to $44.00 at Royal Bank of Canada

UDR (NYSE:UDR) had its price objective lifted by Royal Bank of Canada from $43.00 to $44.00 in a report released on Thursday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

UDR has been the topic of a number of other research reports. Barclays cut their price objective on shares of UDR from $50.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, January 24th. Scotiabank upped their price target on UDR from $48.00 to $49.00 and gave the stock a “sector perform” rating in a research note on Friday, February 14th. Evercore ISI lifted their price objective on UDR from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, February 10th. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and boosted their target price for the stock from $45.00 to $46.00 in a report on Monday, March 10th. Finally, StockNews.com upgraded UDR from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, UDR currently has an average rating of “Hold” and an average target price of $46.29.

UDR Price Performance

Shares of NYSE UDR opened at $42.32 on Thursday. UDR has a 1 year low of $36.61 and a 1 year high of $47.55. The stock has a market capitalization of $14.02 billion, a P/E ratio of 169.28, a P/E/G ratio of 8.67 and a beta of 0.84. The company’s 50-day moving average is $42.45 and its 200 day moving average is $43.00. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91.

UDR (NYSE:UDR) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. The company had revenue of $419.84 million during the quarter, compared to analysts’ expectations of $421.23 million. UDR had a return on equity of 2.65% and a net margin of 5.36%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, sell-side analysts expect that UDR will post 2.51 earnings per share for the current year.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were issued a $0.43 dividend. This is an increase from UDR’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, April 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.06%. UDR’s dividend payout ratio (DPR) is presently 491.43%.

Insider Buying and Selling at UDR

In other news, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the completion of the sale, the chief executive officer now owns 824,716 shares of the company’s stock, valued at $35,256,609. The trade was a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UDR

A number of institutional investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its position in UDR by 7.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,772 shares of the real estate investment trust’s stock worth $25,515,000 after buying an additional 42,926 shares in the last quarter. Principal Financial Group Inc. increased its holdings in UDR by 45.7% in the 4th quarter. Principal Financial Group Inc. now owns 512,540 shares of the real estate investment trust’s stock worth $22,249,000 after acquiring an additional 160,708 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in UDR by 5.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock worth $352,498,000 after acquiring an additional 368,087 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in UDR by 7.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 95,344 shares of the real estate investment trust’s stock worth $4,139,000 after acquiring an additional 6,217 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in UDR by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust’s stock valued at $189,574,000 after purchasing an additional 95,022 shares in the last quarter. 97.84% of the stock is owned by 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.