UDR (NYSE:UDR) PT Raised to $49.00

UDR (NYSE:UDR) had its target price hoisted by Wedbush from $45.00 to $49.00 in a report issued on Monday morning, Benzinga reports. Wedbush currently has an outperform rating on the real estate investment trust’s stock. Wedbush also issued estimates for UDR’s Q3 2024 earnings at $0.63 EPS, FY2024 earnings at $2.49 EPS and FY2025 earnings at $2.58 EPS.

A number of other brokerages have also issued reports on UDR. Truist Financial boosted their price target on shares of UDR from $42.00 to $44.00 and gave the stock a buy rating in a research note on Monday, June 24th. Mizuho increased their target price on UDR from $35.00 to $38.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. lifted their price target on UDR from $42.00 to $43.00 and gave the company an overweight rating in a research note on Monday, June 17th. BMO Capital Markets upgraded UDR from a market perform rating to an outperform rating and increased their price objective for the stock from $39.00 to $45.00 in a research report on Monday, July 15th. Finally, Royal Bank of Canada decreased their price target on UDR from $41.00 to $40.00 and set a sector perform rating on the stock in a research note on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, UDR has a consensus rating of Hold and a consensus price target of $41.61.

UDR Stock Up 0.5 %

UDR stock opened at $41.36 on Monday. The stock has a market capitalization of $13.64 billion, a price-to-earnings ratio of 29.97, a PEG ratio of 9.08 and a beta of 0.83. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. The stock has a 50 day moving average of $40.54 and a two-hundred day moving average of $38.30. UDR has a twelve month low of $30.95 and a twelve month high of $42.42.

UDR (NYSE:UDR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The company had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 earnings per share. As a group, research analysts expect that UDR will post 2.45 earnings per share for the current year.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were paid a dividend of $0.425 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.70 annualized dividend and a dividend yield of 4.11%. UDR’s dividend payout ratio is presently 123.19%.

Insider Buying and Selling

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the completion of the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at $33,580,776.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.73% of the company’s stock.

Institutional Investors Weigh In On UDR

Several institutional investors have recently bought and sold shares of UDR. Norges Bank acquired a new position in shares of UDR during the 4th quarter valued at $1,065,482,000. Capital Research Global Investors acquired a new position in shares of UDR during the first quarter worth about $176,137,000. Centersquare Investment Management LLC boosted its position in shares of UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock worth $310,807,000 after buying an additional 2,145,242 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of UDR in the fourth quarter valued at about $79,897,000. Finally, Heitman Real Estate Securities LLC acquired a new stake in shares of UDR in the fourth quarter valued at about $60,952,000. 97.84% of the stock is currently owned by hedge funds and other 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.