UDR (NYSE:UDR) PT Raised to $49.00 at Wedbush

UDR (NYSE:UDR) had its price target boosted by Wedbush from $45.00 to $49.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the real estate investment trust’s stock. Wedbush’s price target indicates a potential upside of 21.35% from the stock’s previous close.

A number of other research firms have also recently weighed in on UDR. Scotiabank increased their price target on UDR from $39.00 to $42.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 14th. Mizuho raised their price objective 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 lifted their target price on UDR from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Wells Fargo & Company boosted their price objective on UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Finally, Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, UDR presently has an average rating of “Hold” and a consensus price target of $41.56.

UDR Stock Performance

Shares of NYSE:UDR traded down $0.21 during trading on Monday, reaching $40.38. The stock had a trading volume of 1,406,180 shares, compared to its average volume of 2,683,556. UDR has a 52 week low of $30.95 and a 52 week high of $42.42. The stock has a fifty day simple moving average of $40.39 and a two-hundred day simple moving average of $38.24. The firm has a market capitalization of $13.30 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 8.96 and a beta of 0.83. The company has a quick ratio of 6.61, a current ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR) last announced its quarterly earnings data 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). UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, analysts anticipate that UDR will post 2.45 earnings per share for the current fiscal year.

Insider Buying and Selling at UDR

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the company’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 transaction, the senior vice president now directly owns 8,566 shares in the company, valued at $326,964.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Michael D. Lacy sold 4,500 shares of the business’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 sale, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction 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 transaction, the chief executive officer now owns 849,716 shares in the company, valued at approximately $33,580,776.32. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by insiders.

Institutional Investors Weigh In On UDR

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Family Firm Inc. acquired a new stake in shares of UDR in the 2nd quarter worth approximately $26,000. Principal Securities Inc. acquired a new position in shares of UDR during the 4th quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in shares of UDR during the 1st quarter worth $26,000. Quest Partners LLC bought a new stake in UDR in the 4th quarter valued at $27,000. Finally, UMB Bank n.a. bought a new position in shares of UDR during the 2nd quarter worth about $33,000. Institutional investors own 97.84% of the company’s stock.

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.