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

UDR (NYSE:UDR) had its target price lifted by Wedbush from $45.00 to $49.00 in a report released 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.

Other research analysts also recently issued research reports about the company. UBS Group boosted their target price on UDR from $44.00 to $48.00 and gave the company a buy rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. increased their price objective on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a report on Monday, June 17th. Wells Fargo & Company lifted their target price on shares of UDR from $39.00 to $41.00 and gave the company an overweight rating in a research note on Friday, May 31st. Piper Sandler upgraded shares of UDR from an underweight rating to a neutral rating and increased their price target for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Finally, Truist Financial lifted their price objective on shares of UDR from $42.00 to $44.00 and gave the company a buy rating in a research note on Monday, June 24th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $41.61.

UDR Price Performance

NYSE UDR opened at $41.36 on Monday. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82. The firm has a market capitalization of $13.64 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 9.08 and a beta of 0.83. The company has a 50 day simple moving average of $40.54 and a 200-day simple moving average of $38.30. UDR has a 52-week low of $30.95 and a 52-week high of $42.42.

UDR (NYSE:UDR) last released its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $413.75 million. During the same quarter in the previous year, the company earned $0.61 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts predict that UDR will post 2.45 earnings per share for the current fiscal year.

UDR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is currently 123.19%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On UDR

Large investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of UDR during the 4th quarter worth approximately $1,065,482,000. Capital Research Global Investors bought a new position in UDR in the first quarter worth $176,137,000. Centersquare Investment Management LLC boosted its stake in UDR by 35.9% during 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 in the last quarter. Balyasny Asset Management L.P. bought a new stake in UDR in the 4th quarter valued at $79,897,000. Finally, Heitman Real Estate Securities LLC acquired a new position in shares of UDR in the 4th quarter valued at $60,952,000. Institutional investors and hedge funds 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.