UDR’s (UDR) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of UDR (NYSE:UDR) in a research note released on Monday, Benzinga reports. Wedbush currently has a $40.00 price target on the real estate investment trust’s stock.

UDR has been the subject of a number of other reports. Barclays downgraded shares of UDR from an overweight rating to an equal weight rating and lowered their price target for the stock from $46.00 to $37.00 in a report on Tuesday, February 20th. Truist Financial cut their price target on UDR from $45.00 to $42.00 and set a buy rating for the company in a report on Tuesday, April 9th. Morgan Stanley restated an equal weight rating and set a $37.00 price objective on shares of UDR in a report on Monday, February 26th. Mizuho dropped their target price on UDR from $38.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company raised UDR from an equal weight rating to an overweight rating and raised their price target for the stock from $34.00 to $39.00 in a research note on Monday, March 4th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $41.44.

UDR Stock Down 1.5 %

UDR opened at $37.49 on Monday. The firm has a market cap of $12.35 billion, a P/E ratio of 27.98, a PEG ratio of 3.07 and a beta of 0.80. The business’s fifty day simple moving average is $36.85 and its 200 day simple moving average is $35.99. UDR has a 52 week low of $30.95 and a 52 week high of $44.02. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.53%. This is a boost from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, April 9th. UDR’s payout ratio is 126.87%.

Institutional Investors Weigh In On UDR

Several large investors have recently made changes to their positions in UDR. Exchange Traded Concepts LLC boosted its position in UDR by 5.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,302 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 299 shares during the period. Cerity Partners LLC raised its position in UDR by 0.3% in the fourth quarter. Cerity Partners LLC now owns 102,605 shares of the real estate investment trust’s stock valued at $3,929,000 after purchasing an additional 313 shares during the period. Allworth Financial LP lifted its stake in shares of UDR by 20.1% during the fourth quarter. Allworth Financial LP now owns 1,943 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 325 shares in the last quarter. Hummer Financial Advisory Services Inc boosted its position in shares of UDR by 2.9% in the first quarter. Hummer Financial Advisory Services Inc now owns 12,057 shares of the real estate investment trust’s stock worth $451,000 after buying an additional 335 shares during the period. Finally, Integrity Wealth Solutions LLC grew its stake in shares of UDR by 8.2% in the first quarter. Integrity Wealth Solutions LLC now owns 6,409 shares of the real estate investment trust’s stock valued at $240,000 after buying an additional 484 shares in the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

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.