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

UDR (NYSE:UDR) had its price objective lifted by Wedbush from $45.00 to $49.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have 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 and FY2024 earnings at $2.49 EPS.

A number of other equities research analysts also recently weighed in on UDR. Mizuho upped their target price on UDR from $35.00 to $38.00 and gave the stock a neutral rating in a research report on Thursday, May 30th. Truist Financial upped their price target on UDR from $42.00 to $44.00 and gave the company a buy rating in a report on Monday, June 24th. Piper Sandler raised UDR from an underweight rating to a neutral rating and upped their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Morgan Stanley upped their price target on UDR from $37.00 to $40.00 and gave the company an equal weight rating in a report on Tuesday, May 14th. Finally, UBS Group upped their price target on UDR from $44.00 to $48.00 and gave the company a buy rating in a report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $41.56.

UDR Stock Up 3.2 %

Shares of NYSE UDR traded up $1.26 during midday trading on Monday, reaching $41.22. 2,103,198 shares of the company’s stock were exchanged, compared to its average volume of 2,689,798. UDR has a 52-week low of $30.95 and a 52-week high of $42.42. The stock has a market capitalization of $13.57 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 8.96 and a beta of 0.83. The company has a debt-to-equity ratio of 1.57, a quick ratio of 6.61 and a current ratio of 5.82. The business’s fifty day moving average price is $40.41 and its two-hundred day moving average price is $38.26.

UDR (NYSE:UDR) last posted its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.53). The company had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. Analysts forecast that UDR will post 2.45 EPS for the current year.

UDR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were paid a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Wednesday, July 10th. UDR’s payout ratio is presently 123.19%.

Insider Activity at UDR

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

Institutional Trading of UDR

Hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its stake in UDR by 13.6% in the fourth quarter. Raymond James & Associates now owns 82,281 shares of the real estate investment trust’s stock valued at $3,151,000 after acquiring an additional 9,842 shares during the last quarter. Arizona State Retirement System boosted its stake in UDR by 0.8% in the fourth quarter. Arizona State Retirement System now owns 86,027 shares of the real estate investment trust’s stock valued at $3,294,000 after acquiring an additional 712 shares during the last quarter. International Assets Investment Management LLC boosted its position 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 worth $1,430,000 after purchasing an additional 36,376 shares in the last quarter. Allworth Financial LP boosted its position in shares of UDR by 20.1% during the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 325 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in shares of UDR by 0.3% during the fourth quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock worth $3,929,000 after acquiring an additional 313 shares during the period. 97.84% of the stock is owned by institutional investors.

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.