UDR (NYSE:UDR) Sets New 1-Year High at $43.81

UDR, Inc. (NYSE:UDR)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.81 and last traded at $43.64, with a volume of 1558464 shares traded. The stock had previously closed at $43.22.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UDR. Mizuho upped their price target on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. increased their target price on UDR from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Wedbush boosted their price target on UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Royal Bank of Canada lowered their price objective on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on shares of UDR from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 14th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $42.59.

UDR Stock Performance

The company’s fifty day simple moving average is $41.28 and its two-hundred day simple moving average is $38.90. The company has a market capitalization of $14.39 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 9.34 and a beta of 0.83. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a return on equity of 3.70% and a net margin of 8.34%. The firm had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities research analysts predict that UDR, Inc. will post 2.46 earnings per share for the current fiscal year.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were issued a $0.425 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $1.70 dividend on an annualized basis and a yield of 3.90%. UDR’s dividend payout ratio is currently 123.19%.

Insider Activity

In related news, CEO Thomas W. Toomey sold 90,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.73% of the company’s stock.

Hedge Funds Weigh In On UDR

Several hedge funds have recently modified their holdings of the company. Truist Financial Corp lifted its holdings in shares of UDR by 0.6% in the second quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock valued at $2,744,000 after buying an additional 414 shares during the period. Point72 Asset Management L.P. acquired a new stake in UDR in the 2nd quarter valued at about $586,000. Creative Planning lifted its holdings in UDR by 16.1% in the 2nd quarter. Creative Planning now owns 15,732 shares of the real estate investment trust’s stock valued at $647,000 after acquiring an additional 2,181 shares during the last quarter. Waterfall Asset Management LLC bought a new position in shares of UDR during the 2nd quarter valued at about $820,000. Finally, Lighthouse Investment Partners LLC acquired a new position in shares of UDR in the 2nd quarter worth approximately $10,699,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.