UDR (NYSE:UDR) Given Outperform Rating at Wedbush

Wedbush reissued their outperform rating on shares of UDR (NYSE:UDR) in a research note issued to investors on Monday, Benzinga reports. Wedbush currently has a $40.00 price target on the real estate investment trust’s stock.

A number of other brokerages have also recently commented on UDR. Piper Sandler raised UDR from an underweight rating to a neutral rating and lifted their price target for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Truist Financial decreased their target price on shares of UDR from $45.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, April 9th. Wells Fargo & Company raised shares of UDR from an equal weight rating to an overweight rating and increased their price target for the company from $34.00 to $39.00 in a research report on Monday, March 4th. UBS Group upgraded shares of UDR from a neutral rating to a buy rating and boosted their price objective for the company from $38.00 to $44.00 in a research report on Thursday, April 25th. Finally, Mizuho lowered their price objective on shares of UDR from $38.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $41.78.

UDR Stock Performance

NYSE UDR opened at $38.29 on Monday. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 28.57, a PEG ratio of 3.03 and a beta of 0.80. The company has a 50-day simple moving average of $36.78 and a two-hundred day simple moving average of $35.97. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR has a 12-month low of $30.95 and a 12-month high of $44.02.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a $0.425 dividend. This is a boost from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Tuesday, April 9th. UDR’s dividend payout ratio is currently 126.87%.

Hedge Funds Weigh In On UDR

Large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC increased its stake in UDR by 5.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,302 shares of the real estate investment trust’s stock valued at $225,000 after purchasing an additional 299 shares in the last quarter. Cerity Partners LLC raised its holdings in UDR by 0.3% in the 4th 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 last quarter. Allworth Financial LP lifted its position in UDR by 20.1% in the 4th quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock valued at $74,000 after acquiring an additional 325 shares in the last quarter. Hummer Financial Advisory Services Inc increased its holdings in shares of UDR by 2.9% in the 1st quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock worth $451,000 after purchasing an additional 335 shares in the last quarter. Finally, Integrity Wealth Solutions LLC raised its stake in shares of UDR by 8.2% in the first quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 484 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.