Zacks Investment Research lowered shares of UDR (NYSE:UDR) from a hold rating to a sell rating in a research report report published on Saturday morning.

According to Zacks, “Shares of UDR have underperformed the industry it belongs to, in the past month. Notably, the company continues to deal with elevated level of apartment supply in a number of its markets. This limits the landlord’s ability to demand higher rents and also increases concessional activities. Moreover, the company’s extensive development pipeline exposes it to operational risks, entitlement delays and lease-up risks. Also, properties under development tend to drag margins till their completion. Further, any rise in interest rates remains a concern for the company. Nonetheless, UDR’s portfolio with superior product-mix, located in the targeted U.S. markets has the capacity to drive long-term growth in rental income.”

Several other brokerages also recently weighed in on UDR. BMO Capital Markets reissued a hold rating and issued a $41.00 target price on shares of UDR in a research note on Monday, November 27th. Royal Bank of Canada upped their price target on shares of UDR from $39.00 to $40.00 and gave the stock a sector perform rating in a report on Wednesday, November 8th. Cantor Fitzgerald restated a buy rating and issued a $42.00 price target on shares of UDR in a report on Wednesday, September 13th. Mizuho restated a buy rating and issued a $43.00 price target on shares of UDR in a report on Monday, November 6th. Finally, Evercore ISI upgraded shares of UDR from an underperform rating to an in-line rating in a report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. UDR presently has an average rating of Hold and a consensus price target of $40.31.

Shares of UDR (NYSE UDR) opened at $37.61 on Friday. UDR has a 12 month low of $34.41 and a 12 month high of $40.71. The firm has a market cap of $10,043.53, a price-to-earnings ratio of 35.48, a PEG ratio of 3.21 and a beta of 0.39. The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 1.31.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.30%. The ex-dividend date is Tuesday, January 9th. UDR’s payout ratio is 116.98%.

In other UDR news, CEO Thomas W. Toomey sold 20,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $39.20, for a total transaction of $784,000.00. Following the transaction, the chief executive officer now directly owns 1,127,925 shares in the company, valued at approximately $44,214,660. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.07% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of UDR. Quantitative Investment Management LLC grew its holdings in UDR by 429.7% during the 2nd quarter. Quantitative Investment Management LLC now owns 151,500 shares of the real estate investment trust’s stock worth $5,903,000 after acquiring an additional 122,900 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in UDR by 10.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 356,028 shares of the real estate investment trust’s stock worth $13,540,000 after acquiring an additional 33,449 shares in the last quarter. ING Groep NV grew its holdings in UDR by 69.1% during the 3rd quarter. ING Groep NV now owns 23,124 shares of the real estate investment trust’s stock worth $879,000 after acquiring an additional 9,448 shares in the last quarter. WESCAP Management Group Inc. grew its holdings in UDR by 55.1% during the 3rd quarter. WESCAP Management Group Inc. now owns 10,949 shares of the real estate investment trust’s stock worth $416,000 after acquiring an additional 3,890 shares in the last quarter. Finally, Norinchukin Bank The grew its holdings in UDR by 7.3% during the 3rd quarter. Norinchukin Bank The now owns 19,915 shares of the real estate investment trust’s stock worth $757,000 after acquiring an additional 1,360 shares in the last quarter. Institutional investors own 96.52% of the company’s stock.

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About UDR

UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.

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