Wells Fargo & Company Raises UDR (NYSE:UDR) Price Target to $48.00

UDR (NYSE:UDR) had its price target boosted by Wells Fargo & Company from $41.00 to $48.00 in a research report report published on Monday, Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the company. BMO Capital Markets upgraded UDR from a market perform rating to an outperform rating and boosted their target price for the stock from $39.00 to $45.00 in a research note on Monday, July 15th. Truist Financial boosted their target price on UDR from $42.00 to $44.00 and gave the stock a buy rating in a research note on Monday, June 24th. Royal Bank of Canada decreased their target price on UDR from $41.00 to $40.00 and set a sector perform rating for the company in a research note on Thursday, August 1st. JPMorgan Chase & Co. boosted their target price on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Finally, Wedbush boosted their target price on UDR from $45.00 to $49.00 and gave the stock an outperform rating in a research note on Monday, August 5th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, UDR has an average rating of Hold and a consensus target price of $42.65.

UDR Stock Performance

Shares of UDR stock opened at $44.19 on Monday. UDR has a one year low of $30.95 and a one year high of $44.22. The company has a market cap of $14.55 billion, a PE ratio of 32.02, a P/E/G ratio of 9.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. The business has a 50-day simple moving average of $41.35 and a 200-day simple moving average of $38.94.

UDR (NYSE:UDR) last announced its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 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 for the quarter, compared to analyst estimates of $413.75 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that UDR will post 2.46 EPS for the current fiscal year.

UDR Announces Dividend

The business also recently declared 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. This represents a $1.70 annualized dividend and a dividend yield of 3.85%. The ex-dividend date of this dividend was Wednesday, July 10th. UDR’s dividend payout ratio (DPR) is presently 123.19%.

Insider Transactions at UDR

In related news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.73% of the company’s stock.

Institutional Trading of UDR

Several large investors have recently bought and sold shares of UDR. International Assets Investment Management LLC boosted its stake in shares of UDR by 3,730.9% during the fourth quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock valued at $1,430,000 after acquiring an additional 36,376 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of UDR by 14.5% during the fourth quarter. Van ECK Associates Corp now owns 128,798 shares of the real estate investment trust’s stock valued at $4,932,000 after acquiring an additional 16,289 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of UDR by 307.0% during the fourth quarter. Victory Capital Management Inc. now owns 100,750 shares of the real estate investment trust’s stock valued at $3,858,000 after acquiring an additional 75,993 shares during the last quarter. New York Life Investment Management LLC boosted its stake in shares of UDR by 68.7% during the fourth quarter. New York Life Investment Management LLC now owns 94,167 shares of the real estate investment trust’s stock valued at $3,606,000 after acquiring an additional 38,335 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of UDR by 9.4% during the fourth quarter. National Bank of Canada FI now owns 70,710 shares of the real estate investment trust’s stock valued at $2,732,000 after acquiring an additional 6,051 shares during the last quarter. 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.