UDR (NYSE:UDR) Price Target Cut to $48.00 by Analysts at Scotiabank

UDR (NYSE:UDR) had its target price lowered by Scotiabank from $49.00 to $48.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research analysts also recently weighed in on UDR. Piper Sandler increased their target price on shares of UDR from $40.00 to $46.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. The Goldman Sachs Group initiated coverage on shares of UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 target price for the company. Wells Fargo & Company upped their price target on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Wedbush upped their price target on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.18.

UDR Stock Performance

Shares of UDR stock traded down $0.42 on Thursday, reaching $44.13. 1,459,902 shares of the company traded hands, compared to its average volume of 2,504,197. UDR has a 52 week low of $32.37 and a 52 week high of $47.55. The company has a 50 day moving average of $44.62 and a 200 day moving average of $42.03. The firm has a market capitalization of $14.56 billion, a PE ratio of 119.87, a PEG ratio of 12.55 and a beta of 0.85. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91.

UDR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.85%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is currently 459.47%.

Institutional Trading of UDR

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of UDR by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock valued at $1,910,275,000 after purchasing an additional 233,475 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in UDR by 370.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 222,940 shares of the real estate investment trust’s stock worth $8,340,000 after acquiring an additional 175,566 shares during the last quarter. Simplicity Wealth LLC bought a new stake in UDR in the 2nd quarter worth $2,135,000. Bessemer Group Inc. grew its holdings in UDR by 2,250.3% in the 1st quarter. Bessemer Group Inc. now owns 37,416 shares of the real estate investment trust’s stock worth $1,399,000 after acquiring an additional 35,824 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC grew its holdings in UDR by 64.6% in the 1st quarter. Lasalle Investment Management Securities LLC now owns 1,447,425 shares of the real estate investment trust’s stock worth $54,148,000 after acquiring an additional 567,878 shares during the last quarter. Hedge funds and other 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.