UDR (NYSE:UDR) Price Target Cut to $48.00 by Analysts at Scotiabank

UDR (NYSE:UDR) had its target price lowered by Scotiabank from $51.00 to $48.00 in a report issued on Friday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on UDR. Royal Bank of Canada increased their price target on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and increased their price objective for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Zelman & Associates reiterated a “neutral” rating on shares of UDR in a research report on Thursday, February 13th. Mizuho cut their price objective on UDR from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Finally, Barclays increased their price objective on UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and a consensus price target of $46.38.

UDR Stock Performance

Shares of NYSE UDR opened at $41.19 on Friday. The stock has a fifty day moving average price of $41.32 and a two-hundred day moving average price of $42.46. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61. The firm has a market cap of $13.65 billion, a P/E ratio of 164.76, a PEG ratio of 8.67 and a beta of 0.83. UDR has a 1 year low of $36.61 and a 1 year high of $47.55.

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

UDR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, July 10th. UDR’s payout ratio is presently 491.43%.

Institutional Investors Weigh In On UDR

Several hedge funds have recently made changes to their positions in UDR. Beaird Harris Wealth Management LLC bought a new position in UDR during the first quarter worth about $28,000. Spire Wealth Management lifted its stake in UDR by 3,079.2% during the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 739 shares during the period. Sentry Investment Management LLC bought a new position in UDR during the first quarter worth about $47,000. Horizon Financial Services LLC bought a new position in UDR during the first quarter worth about $51,000. Finally, Smartleaf Asset Management LLC lifted its stake in UDR by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 491 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.