UDR (NYSE:UDR) Given New $40.00 Price Target at Royal Bank of Canada

UDR (NYSE:UDR) had its target price cut by analysts at Royal Bank of Canada from $41.00 to $40.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s target price indicates a potential downside of 0.82% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group raised 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. Morgan Stanley boosted their price target on UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 14th. Mizuho increased their price objective on shares of UDR from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Scotiabank boosted their target price on shares of UDR from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of UDR from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, UDR has a consensus rating of “Hold” and a consensus price target of $41.33.

UDR Stock Performance

Shares of UDR stock traded up $0.26 during trading hours on Thursday, reaching $40.33. 1,563,722 shares of the company traded hands, compared to its average volume of 2,664,602. The firm has a 50-day moving average price of $40.32 and a 200 day moving average price of $38.20. The company has a market cap of $13.28 billion, a P/E ratio of 29.22, a P/E/G ratio of 9.01 and a beta of 0.83. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 6.61. UDR has a 12-month low of $30.95 and a 12-month high of $42.42.

UDR (NYSE:UDR) last issued its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). The firm had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.63%. UDR’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS. As a group, sell-side analysts predict that UDR will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 90,000 shares of the business’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other UDR 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 transaction of $3,556,800.00. Following the completion of the sale, the chief executive officer now directly owns 849,716 shares of the company’s stock, valued at $33,580,776.32. The transaction was disclosed in a legal filing 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 dated 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 sale, 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. 3.73% of the stock is owned by insiders.

Institutional Trading of UDR

Several hedge funds and other institutional investors have recently made changes to their positions in UDR. Natixis Advisors LLC boosted its stake 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 worth $9,300,000 after purchasing an additional 20,781 shares in the last quarter. Catalytic Wealth RIA LLC purchased a new stake in shares of UDR during the second quarter valued at $232,000. Rothschild Investment LLC acquired a new position in shares of UDR in the 2nd quarter valued at $35,000. International Assets Investment Management LLC purchased a new position in UDR in the 2nd quarter worth $40,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in UDR by 3.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 86,275 shares of the real estate investment trust’s stock worth $3,550,000 after acquiring an additional 2,986 shares during the last quarter. Hedge funds and other institutional investors 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.