UDR (NYSE:UDR) Hits New 1-Year High After Analyst Upgrade

UDR, Inc. (NYSE:UDR)’s share price hit a new 52-week high during trading on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $40.00 to $44.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. UDR traded as high as $45.26 and last traded at $45.24, with a volume of 997661 shares traded. The stock had previously closed at $44.52.

A number of other brokerages also recently weighed in on UDR. BMO Capital Markets raised shares of UDR from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $39.00 to $45.00 in a report on Monday, July 15th. Morgan Stanley lifted their price objective on shares of UDR from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Wedbush increased their target price on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Truist Financial lifted their price target on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Royal Bank of Canada reduced their price objective on UDR from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, UDR presently has a consensus rating of “Hold” and an average price target of $43.44.

Institutional Investors Weigh In On UDR

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in UDR by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after purchasing an additional 233,475 shares in the last quarter. Norges Bank purchased a new stake in shares of UDR in the fourth quarter worth $1,065,482,000. Cohen & Steers Inc. boosted its stake in UDR by 3.8% during the fourth quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock valued at $1,025,351,000 after buying an additional 984,807 shares during the period. Centersquare Investment Management LLC grew its position in UDR by 17.7% during the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after buying an additional 1,433,463 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in UDR by 22.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock worth $279,373,000 after acquiring an additional 1,359,804 shares during the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Trading Up 0.9 %

The stock has a market cap of $15.14 billion, a PE ratio of 33.32, a PEG ratio of 9.66 and a beta of 0.85. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57. The firm has a fifty day simple moving average of $42.13 and a two-hundred day simple moving average of $39.57.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a net margin of 8.34% and a return on equity of 3.70%. The company had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $413.75 million. During the same period in the prior year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. As a group, equities analysts expect that UDR, Inc. will post 2.46 earnings per share for the current fiscal year.

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.