Royal Bank of Canada Trims UDR (NYSE:UDR) Target Price to $40.00

UDR (NYSE:UDR) had its target price cut by Royal Bank of Canada from $41.00 to $40.00 in a research report released on Thursday, Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective on shares of UDR from $37.00 to $40.00 and gave the company an equal weight rating in a research report on Tuesday, May 14th. Piper Sandler raised shares of UDR from an underweight rating to a neutral rating and boosted their price objective for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. Wedbush boosted their price objective on shares of UDR from $40.00 to $45.00 and gave the company an outperform rating in a research report on Monday, May 6th. Truist Financial upped their target price on shares of UDR from $42.00 to $44.00 and gave the stock a buy rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of UDR from $42.00 to $43.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $41.33.

UDR Stock Performance

Shares of UDR stock opened at $40.59 on Thursday. UDR has a 12 month low of $30.95 and a 12 month high of $42.42. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 6.61. The firm has a market capitalization of $13.39 billion, a P/E ratio of 29.41, a P/E/G ratio of 8.96 and a beta of 0.83. The company’s fifty day moving average price is $40.39 and its two-hundred day moving average price is $38.24.

UDR (NYSE:UDR) last issued 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). The company had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. On average, research analysts anticipate 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. Shareholders of record on Wednesday, July 10th were given a $0.425 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.70 dividend on an annualized basis and a yield of 4.19%. UDR’s payout ratio is 123.19%.

Insiders Place Their Bets

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

Institutional Trading of UDR

A number of hedge funds have recently bought and sold shares of the stock. Mesirow Institutional Investment Management Inc. boosted its holdings in UDR by 21.1% in the 2nd quarter. Mesirow Institutional Investment Management Inc. now owns 82,625 shares of the real estate investment trust’s stock valued at $3,400,000 after purchasing an additional 14,382 shares during the period. Versor Investments LP bought a new stake in UDR in the 2nd quarter valued at $848,000. Natixis Advisors LLC boosted its holdings in UDR by 10.1% in the 2nd quarter. Natixis Advisors LLC now owns 225,999 shares of the real estate investment trust’s stock valued at $9,300,000 after purchasing an additional 20,781 shares during the period. Catalytic Wealth RIA LLC bought a new stake in UDR in the 2nd quarter valued at $232,000. Finally, Rothschild Investment LLC bought a new stake in UDR in the 2nd quarter valued at $35,000. 97.84% of the stock is owned by institutional investors.

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.