UDR (NYSE:UDR) Raised to Outperform at BMO Capital Markets

UDR (NYSE:UDR) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday, Briefing.com reports. The firm currently has a $45.00 price target on the real estate investment trust’s stock, up from their previous price target of $39.00. BMO Capital Markets’ price target suggests a potential upside of 11.52% from the company’s previous close.

UDR has been the subject of a number of other reports. Wedbush upped their price objective on shares of UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Mizuho upped their price target on UDR from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Scotiabank boosted their target price on UDR from $39.00 to $42.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 14th. Wells Fargo & Company increased their price target on shares of UDR from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Finally, Piper Sandler raised shares of UDR from an “underweight” rating to a “neutral” rating and raised their target price for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.94.

UDR Stock Performance

Shares of UDR opened at $40.35 on Monday. The company has a market capitalization of $13.29 billion, a PE ratio of 29.24, a PEG ratio of 8.90 and a beta of 0.83. UDR has a 52 week low of $30.95 and a 52 week high of $43.67. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61. The company’s 50 day moving average price is $39.80 and its 200 day moving average price is $37.93.

Insiders Place Their Bets

In other news, SVP Michael D. Lacy sold 4,500 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $38.17, for a total value of $171,765.00. Following the completion of the transaction, the senior vice president now owns 8,566 shares in the company, valued at approximately $326,964.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $38.17, for a total transaction of $171,765.00. Following the sale, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at $326,964.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas W. Toomey sold 90,000 shares of UDR stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $39.52, for a total value of $3,556,800.00. Following the transaction, the chief executive officer now owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The disclosure for this sale can be found here. Insiders own 3.73% of the company’s stock.

Hedge Funds Weigh In On UDR

Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Securities Inc. acquired a new position in UDR during the 4th quarter worth about $26,000. Fidelis Capital Partners LLC acquired a new position in shares of UDR in the 1st quarter worth approximately $26,000. Quest Partners LLC bought a new stake in shares of UDR in the 4th quarter valued at $27,000. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of UDR by 87.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 669 shares during the period. Finally, Addison Advisors LLC raised its stake in UDR by 53.1% during the fourth quarter. Addison Advisors LLC now owns 1,731 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 600 shares during the last quarter. 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.