Zacks Investment Research upgraded shares of UDR (NYSE:UDR) from a sell rating to a hold rating in a research note released on Friday.
According to Zacks, “Shares of UDR have outperformed the industry it belongs to in the past month. Further, the stock witnessed the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share remain unchanged in a week’s time. Last month, UDR reported its fourth-quarter 2017 results that reflected an increase in revenues from same-store communities and stabilized non-mature communities. Moreover, the company’s portfolio, located in the targeted U.S. markets, has a superior product-mix. However, the company continues to deal with an elevated level of apartment supply in a number of its markets. This is likely to limit the landlord’s ability to demand higher rents and also increase concessional activities. Moreover, any rise in interest rates remains a concern for the company.”
UDR has been the subject of a number of other reports. Stifel Nicolaus reissued a hold rating and set a $38.00 price target on shares of UDR in a research report on Friday, January 19th. SunTrust Banks set a $38.00 target price on shares of UDR and gave the stock a hold rating in a report on Monday, February 12th. Bank of America raised shares of UDR from a neutral rating to a buy rating and set a $40.00 target price for the company in a report on Friday. TheStreet cut shares of UDR from a b- rating to a c rating in a report on Tuesday, February 6th. Finally, BMO Capital Markets reaffirmed a hold rating and issued a $40.00 target price on shares of UDR in a report on Tuesday, January 9th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $39.15.
UDR (NYSE:UDR) last issued its quarterly earnings results on Tuesday, February 6th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. UDR had a net margin of 12.21% and a return on equity of 4.53%. The company had revenue of $250.12 million during the quarter, compared to analysts’ expectations of $250.37 million. During the same period last year, the company posted $0.46 EPS. UDR’s revenue was up 4.2% on a year-over-year basis. equities analysts anticipate that UDR will post 1.93 earnings per share for the current year.
In other news, CEO Thomas W. Toomey sold 20,000 shares of UDR stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $39.20, for a total value of $784,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,127,925 shares in the company, valued at $44,214,660. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.07% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in UDR by 1.2% during the fourth quarter. BlackRock Inc. now owns 29,344,904 shares of the real estate investment trust’s stock valued at $1,130,365,000 after buying an additional 354,311 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in UDR during the fourth quarter valued at approximately $498,000. Aperio Group LLC grew its position in UDR by 3.9% during the fourth quarter. Aperio Group LLC now owns 81,877 shares of the real estate investment trust’s stock valued at $3,154,000 after buying an additional 3,042 shares during the period. ING Groep NV grew its position in UDR by 69.1% during the third quarter. ING Groep NV now owns 23,124 shares of the real estate investment trust’s stock valued at $879,000 after buying an additional 9,448 shares during the period. Finally, LS Investment Advisors LLC grew its position in UDR by 137.9% during the fourth quarter. LS Investment Advisors LLC now owns 39,822 shares of the real estate investment trust’s stock valued at $1,534,000 after buying an additional 23,082 shares during the period. Hedge funds and other institutional investors own 97.67% of the company’s stock.
UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.
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