Wells Fargo & Co Raises UDR (NYSE:UDR) Price Target to $47.00

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UDR (NYSE:UDR) had its price target upped by Wells Fargo & Co from $46.00 to $47.00 in a report published on Tuesday, BenzingaRatingsTable reports. The firm currently has a market perform rating on the real estate investment trust’s stock.

Other analysts also recently issued research reports about the company. TheStreet upgraded UDR from a c rating to a b- rating in a research note on Tuesday, July 30th. Barclays restated a hold rating and set a $46.00 target price on shares of UDR in a research note on Tuesday, April 16th. ValuEngine downgraded UDR from a buy rating to a hold rating in a research note on Tuesday, August 6th. Finally, Zacks Investment Research downgraded UDR from a buy rating to a hold rating in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $45.08.

UDR opened at $46.57 on Tuesday. The company has a market cap of $13.29 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.47. The stock has a 50-day moving average of $46.08 and a 200-day moving average of $45.21. UDR has a 52-week low of $37.87 and a 52-week high of $47.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 6.43 and a current ratio of 6.43.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were paid a dividend of $0.343 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.37 annualized dividend and a yield of 2.95%. UDR’s payout ratio is 69.90%.

In related news, COO Jerry A. Davis sold 10,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $45.21, for a total transaction of $452,100.00. Following the completion of the sale, the chief operating officer now owns 193,065 shares in the company, valued at approximately $8,728,468.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Joseph D. Fisher sold 3,250 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.41, for a total value of $150,832.50. Following the sale, the chief financial officer now owns 28,394 shares of the company’s stock, valued at approximately $1,317,765.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,250 shares of company stock valued at $835,983. 2.85% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in UDR. Comerica Securities Inc. bought a new stake in shares of UDR in the 4th quarter worth approximately $236,000. Geode Capital Management LLC lifted its position in shares of UDR by 11.2% in the 4th quarter. Geode Capital Management LLC now owns 4,572,291 shares of the real estate investment trust’s stock worth $180,909,000 after acquiring an additional 458,784 shares during the period. Virtu Financial LLC bought a new stake in shares of UDR in the 1st quarter worth approximately $975,000. Retirement Systems of Alabama lifted its position in shares of UDR by 4.0% in the 1st quarter. Retirement Systems of Alabama now owns 128,337 shares of the real estate investment trust’s stock worth $5,834,000 after acquiring an additional 4,899 shares during the period. Finally, Pennsylvania Trust Co bought a new stake in shares of UDR in the 1st quarter worth approximately $655,000. Institutional investors own 96.44% 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 properties in targeted U.S.

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