UDR (NYSE:UDR) Upgraded to “Neutral” by Piper Sandler

Piper Sandler upgraded shares of UDR (NYSE:UDR) from an underweight rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat.com reports. The firm currently has $40.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $34.00.

A number of other equities analysts have also weighed in on UDR. Barclays lowered UDR from an overweight rating to an equal weight rating and decreased their target price for the stock from $46.00 to $37.00 in a research note on Tuesday, February 20th. Deutsche Bank Aktiengesellschaft started coverage on UDR in a report on Tuesday, January 30th. They set a hold rating and a $40.00 target price for the company. Truist Financial dropped their target price on UDR from $45.00 to $42.00 and set a buy rating for the company in a report on Tuesday. Wells Fargo & Company upgraded UDR from an equal weight rating to an overweight rating and increased their target price for the company from $34.00 to $39.00 in a report on Monday, March 4th. Finally, The Goldman Sachs Group started coverage on UDR in a report on Thursday, February 22nd. They set a neutral rating and a $39.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $41.71.

UDR Price Performance

Shares of NYSE UDR opened at $37.22 on Wednesday. The firm has a market capitalization of $12.26 billion, a P/E ratio of 27.78, a P/E/G ratio of 3.01 and a beta of 0.80. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. The stock’s 50-day simple moving average is $36.47 and its two-hundred day simple moving average is $35.88. UDR has a twelve month low of $30.95 and a twelve month high of $44.02.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, April 9th. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio (DPR) is presently 125.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers increased its position in UDR by 3.5% during the 1st quarter. Cetera Investment Advisers now owns 6,529 shares of the real estate investment trust’s stock valued at $375,000 after buying an additional 218 shares in the last quarter. Bessemer Group Inc. increased its position in UDR by 10.6% during the 4th quarter. Bessemer Group Inc. now owns 2,444 shares of the real estate investment trust’s stock valued at $95,000 after buying an additional 234 shares in the last quarter. Baird Financial Group Inc. increased its position in UDR by 3.8% during the 1st quarter. Baird Financial Group Inc. now owns 6,525 shares of the real estate investment trust’s stock valued at $374,000 after buying an additional 237 shares in the last quarter. Snowden Capital Advisors LLC increased its holdings in shares of UDR by 5.2% in the 1st quarter. Snowden Capital Advisors LLC now owns 5,455 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 271 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in shares of UDR by 3.6% in the 1st quarter. Neuberger Berman Group LLC now owns 8,374 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 291 shares in the last quarter. Hedge funds and other 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.