UDR (NYSE:UDR) Rating Increased to Buy at UBS Group

UDR (NYSE:UDR) was upgraded by equities researchers at UBS Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a $44.00 target price on the real estate investment trust’s stock, up from their previous target price of $38.00. UBS Group’s target price indicates a potential upside of 16.06% from the stock’s current price.

A number of other research analysts also recently issued reports on UDR. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Wells Fargo & Company upgraded UDR from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $34.00 to $39.00 in a report on Monday, March 4th. The Goldman Sachs Group began coverage on UDR in a research note on Thursday, February 22nd. They issued a “neutral” rating and a $39.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of UDR in a research report on Tuesday, January 30th. They set a “hold” rating and a $40.00 price objective on the stock. Finally, Truist Financial decreased their price objective on shares of UDR from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, April 9th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $41.83.

UDR Price Performance

Shares of UDR stock opened at $37.91 on Thursday. The company’s fifty day simple moving average is $36.73 and its two-hundred day simple moving average is $35.96. UDR has a 12-month low of $30.95 and a 12-month high of $44.02. The firm has a market cap of $12.48 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47.

Hedge Funds Weigh In On UDR

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Securities Inc. purchased a new stake in UDR during the 4th quarter valued at about $26,000. Quest Partners LLC bought a new stake in shares of UDR during the fourth quarter valued at approximately $27,000. Parkside Financial Bank & Trust increased its position in shares of UDR by 225.7% during the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 754 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in UDR by 87.3% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 669 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in UDR by 53.1% in the 4th quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 600 shares in the last quarter. 97.84% of the stock is currently 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.