Scotiabank Lowers UDR (NYSE:UDR) Price Target to $48.00

UDR (NYSE:UDR) had its price objective reduced by Scotiabank from $51.00 to $48.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price objective points to a potential upside of 16.53% from the stock’s current price.

Several other equities analysts have also commented on UDR. Royal Bank of Canada raised their target price on shares of UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a report on Thursday, May 8th. Barclays lifted their price objective on shares of UDR from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Zelman & Associates restated a “neutral” rating on shares of UDR in a research note on Thursday, February 13th. Mizuho reduced their target price on UDR from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. Finally, Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and upped their price objective for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.38.

UDR Trading Down 1.8%

Shares of NYSE:UDR opened at $41.19 on Friday. The business’s 50 day simple moving average is $41.32 and its 200 day simple moving average is $42.49. UDR has a 1 year low of $36.61 and a 1 year high of $47.55. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The company has a market capitalization of $13.65 billion, a P/E ratio of 164.76, a P/E/G ratio of 8.67 and a beta of 0.83.

UDR (NYSE:UDR) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. UDR had a return on equity of 2.65% and a net margin of 5.36%. The company had revenue of $419.84 million for the quarter, compared to analyst estimates of $421.23 million. During the same period in the prior year, the firm posted $0.61 EPS. UDR’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts anticipate that UDR will post 2.51 EPS for the current fiscal year.

Institutional Trading of UDR

Large investors have recently bought and sold shares of the business. Yousif Capital Management LLC grew its stake in UDR by 35.1% during the first quarter. Yousif Capital Management LLC now owns 65,707 shares of the real estate investment trust’s stock worth $2,968,000 after purchasing an additional 17,061 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of UDR by 7.9% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,772 shares of the real estate investment trust’s stock valued at $25,515,000 after acquiring an additional 42,926 shares during the period. Principal Financial Group Inc. boosted its stake in UDR by 45.7% during the fourth quarter. Principal Financial Group Inc. now owns 512,540 shares of the real estate investment trust’s stock worth $22,249,000 after acquiring an additional 160,708 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in UDR by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust’s stock worth $189,574,000 after purchasing an additional 95,022 shares during the period. Finally, Renaissance Technologies LLC increased its stake in UDR by 27.7% in the fourth quarter. Renaissance Technologies LLC now owns 661,436 shares of the real estate investment trust’s stock valued at $28,713,000 after purchasing an additional 143,600 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.