Scotiabank Issues Pessimistic Forecast for UDR (NYSE:UDR) Stock Price

UDR (NYSE:UDR) had its price target reduced by Scotiabank from $49.00 to $48.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

UDR has been the subject of several other research reports. Evercore ISI raised their target price on UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research note on Monday, September 9th. BNP Paribas assumed coverage on shares of UDR in a research note on Wednesday, September 11th. They set an “outperform” rating and a $49.00 target price for the company. Wells Fargo & Company lifted their price target on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, August 26th. Truist Financial increased their price objective on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, StockNews.com lowered UDR from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, UDR currently has an average rating of “Hold” and an average price target of $45.18.

UDR Stock Down 0.5 %

Shares of NYSE UDR opened at $44.31 on Thursday. The company has a market capitalization of $14.62 billion, a P/E ratio of 119.76, a P/E/G ratio of 12.30 and a beta of 0.85. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. The company has a 50 day simple moving average of $44.63 and a 200-day simple moving average of $42.10. UDR has a 1 year low of $32.37 and a 1 year high of $47.55.

UDR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Thursday, October 10th. UDR’s dividend payout ratio is presently 459.47%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in shares of UDR in the 2nd quarter valued at $26,000. Activest Wealth Management purchased a new position in UDR in the third quarter valued at $27,000. UMB Bank n.a. acquired a new stake in UDR in the second quarter valued at $33,000. Brooklyn Investment Group purchased a new stake in UDR during the 3rd quarter worth about $33,000. Finally, Rothschild Investment LLC acquired a new position in shares of UDR during the 2nd quarter worth about $35,000. Hedge funds and other institutional investors 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.