UDR (NYSE:UDR) Price Target Raised to $49.00 at Scotiabank

UDR (NYSE:UDR) had its price target lifted by investment analysts at Scotiabank from $48.00 to $49.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective suggests a potential upside of 14.13% from the company’s previous close.

A number of other analysts have also commented on UDR. Jefferies Financial Group lowered UDR from a “buy” rating to a “hold” rating and cut their price target for the company from $50.00 to $45.00 in a report on Thursday, January 2nd. Evercore ISI lifted their target price on UDR from $43.00 to $45.00 and gave the company an “in-line” rating in a research report on Monday, February 10th. Wells Fargo & Company lowered their target price on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Zelman & Associates reaffirmed a “neutral” rating on shares of UDR in a research report on Thursday. Finally, Barclays lowered their target price on UDR from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.18.

UDR Stock Performance

Shares of UDR stock opened at $42.93 on Friday. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 171.73, a price-to-earnings-growth ratio of 11.72 and a beta of 0.88. The stock’s 50-day moving average is $42.45 and its 200-day moving average is $43.51. UDR has a one year low of $34.76 and a one year high of $47.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 1.32 and a quick ratio of 5.91.

UDR (NYSE:UDR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. Equities analysts predict that UDR will post 2.51 earnings per share for the current fiscal year.

Hedge Funds Weigh In On UDR

Several institutional investors and hedge funds have recently made changes to their positions in UDR. Activest Wealth Management acquired a new position in shares of UDR in the third quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of UDR in the third quarter valued at approximately $33,000. Continuum Advisory LLC grew its position in shares of UDR by 5,335.3% in the third quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 907 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of UDR by 68.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 491 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in shares of UDR by 62.7% in the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 520 shares during the period. Institutional investors and hedge funds own 97.84% of the company’s stock.

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.