Barclays Boosts UDR (NYSE:UDR) Price Target to $51.00

UDR (NYSE:UDR) had its price target hoisted by Barclays from $48.00 to $51.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the stock. Scotiabank increased their price target on shares of UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research note on Friday, February 14th. Zelman & Associates restated a “neutral” rating on shares of UDR in a report on Thursday, February 13th. Evercore ISI lifted their price target on shares of UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a research note on Monday, February 10th. Royal Bank of Canada boosted their price target on shares of UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday. Finally, Truist Financial lowered UDR from a “buy” rating to a “hold” rating and raised their price objective for the stock from $45.00 to $46.00 in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $46.29.

UDR Price Performance

Shares of UDR opened at $42.32 on Friday. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 169.28, a PEG ratio of 8.67 and a beta of 0.84. The firm’s fifty day simple moving average is $42.45 and its 200-day simple moving average is $42.99. UDR has a twelve month low of $36.61 and a twelve month high of $47.55. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. The company had revenue of $419.84 million for 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%. UDR’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Equities analysts forecast that UDR will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were issued a $0.43 dividend. 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%. This is a positive change from UDR’s previous quarterly dividend of $0.43. UDR’s payout ratio is presently 491.43%.

Insider Transactions at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value of $1,068,750.00. Following the sale, the chief executive officer now owns 824,716 shares in the company, valued at $35,256,609. This represents a 2.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Asset Management One Co. Ltd. lifted its position in UDR by 7.9% during 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 during the period. Principal Financial Group Inc. lifted its stake in shares of 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 valued at $22,249,000 after purchasing an additional 160,708 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of UDR by 5.0% during 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 purchasing an additional 368,087 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position 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 purchasing an additional 6,217 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in UDR by 2.2% in 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 buying an additional 95,022 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.