UDR, Inc. (UDR) Receives $39.31 Average Target Price from Analysts
UDR, Inc. (NYSE:UDR) has received a consensus recommendation of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $39.54.
UDR has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their target price on UDR from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on UDR in a report on Monday, June 11th. They set a “hold” rating and a $38.00 target price on the stock. Bank of America boosted their target price on UDR from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, June 8th. ValuEngine lowered UDR from a “hold” rating to a “sell” rating in a report on Monday, June 18th. Finally, Zacks Investment Research raised UDR from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a report on Wednesday, July 25th.
Shares of UDR stock traded up $0.34 during trading on Friday, reaching $39.94. 62,005 shares of the company’s stock were exchanged, compared to its average volume of 1,449,352. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $10.74 billion, a PE ratio of 21.34, a PEG ratio of 3.39 and a beta of 0.34. UDR has a twelve month low of $32.88 and a twelve month high of $41.04.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th will be issued a $0.3323 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 3.33%. This is a positive change from UDR’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, October 9th. UDR’s dividend payout ratio is currently 68.98%.
In other UDR news, CEO Thomas W. Toomey sold 40,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $39.80, for a total value of $1,592,000.00. Following the transaction, the chief executive officer now directly owns 1,768,753 shares of the company’s stock, valued at approximately $70,396,369.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Harry G. Alcock sold 10,000 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $40.45, for a total value of $404,500.00. Following the completion of the transaction, the senior vice president now directly owns 126,123 shares in the company, valued at $5,101,675.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,773 shares of company stock worth $4,140,829. Insiders own 3.16% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of UDR by 0.4% during the 2nd quarter. BlackRock Inc. now owns 29,851,798 shares of the real estate investment trust’s stock worth $1,120,637,000 after purchasing an additional 117,703 shares in the last quarter. FMR LLC grew its holdings in shares of UDR by 3.4% during the 2nd quarter. FMR LLC now owns 16,025,171 shares of the real estate investment trust’s stock worth $601,586,000 after purchasing an additional 528,079 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of UDR by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 8,358,300 shares of the real estate investment trust’s stock worth $313,771,000 after purchasing an additional 390,700 shares in the last quarter. Northern Trust Corp grew its holdings in shares of UDR by 1.5% during the 1st quarter. Northern Trust Corp now owns 4,544,072 shares of the real estate investment trust’s stock worth $161,860,000 after purchasing an additional 67,840 shares in the last quarter. Finally, Centersquare Investment Management LLC grew its holdings in shares of UDR by 3.9% during the 2nd quarter. Centersquare Investment Management LLC now owns 4,422,408 shares of the real estate investment trust’s stock worth $166,018,000 after purchasing an additional 164,250 shares in the last quarter. 95.23% of the stock is currently owned by hedge funds and other institutional investors.
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 properties in targeted U.S.
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