BMO Capital Markets Upgrades UDR (NYSE:UDR) to Outperform

UDR (NYSE:UDR) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has a $45.00 target price on the real estate investment trust’s stock, up from their previous target price of $39.00. BMO Capital Markets’ price objective would suggest a potential upside of 9.57% from the company’s current price.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. boosted their price target on UDR from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. UBS Group raised UDR from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $38.00 to $44.00 in a report on Thursday, April 25th. Truist Financial lifted their target price on UDR from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Scotiabank lifted their target price on UDR from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Finally, Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $34.00 to $40.00 in a report on Wednesday, April 10th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $40.94.

UDR Price Performance

Shares of UDR stock opened at $41.07 on Monday. UDR has a fifty-two week low of $30.95 and a fifty-two week high of $43.67. The firm has a market capitalization of $13.52 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 8.90 and a beta of 0.83. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61. The stock’s 50-day simple moving average is $39.87 and its 200-day simple moving average is $37.97.

Insider Activity

In related news, SVP Michael D. Lacy sold 4,500 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the transaction, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the sale, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas W. Toomey sold 90,000 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the sale, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The disclosure for this sale can be found here. Insiders own 3.73% of the company’s stock.

Hedge Funds Weigh In On UDR

Several hedge funds and other institutional investors have recently made changes to their positions in UDR. Principal Securities Inc. acquired a new stake in shares of UDR during the 4th quarter worth about $26,000. Fidelis Capital Partners LLC acquired a new position in shares of UDR in the first quarter valued at approximately $26,000. Quest Partners LLC acquired a new position in shares of UDR in the fourth quarter valued at approximately $27,000. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of UDR by 87.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 669 shares during the period. Finally, Addison Advisors LLC increased its holdings in shares of UDR by 53.1% in the fourth quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors 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.