UDR (NYSE:UDR) Price Target Raised to $45.00

UDR (NYSE:UDR) had its target price lifted by Wedbush from $40.00 to $45.00 in a research note published on Monday morning, Benzinga reports. Wedbush currently has an outperform rating on the real estate investment trust’s stock. Wedbush also issued estimates for UDR’s Q2 2024 earnings at $0.62 EPS, Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.63 EPS, FY2024 earnings at $2.46 EPS and FY2025 earnings at $2.57 EPS.

Other analysts have also issued reports about the company. Wells Fargo & Company upgraded UDR from an equal weight rating to an overweight rating and lifted their price objective for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. Piper Sandler upgraded UDR from an underweight rating to a neutral rating and boosted their target price for the stock from $34.00 to $40.00 in a research report on Wednesday, April 10th. Morgan Stanley restated an equal weight rating and set a $37.00 target price on shares of UDR in a research report on Monday, February 26th. The Goldman Sachs Group began coverage on UDR in a research report on Thursday, February 22nd. They set a neutral rating and a $39.00 target price for the company. Finally, Scotiabank lowered UDR from a sector outperform rating to a sector perform rating and set a $39.00 target price for the company. in a research report on Wednesday, May 1st. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $41.72.

UDR Price Performance

Shares of UDR stock opened at $38.27 on Monday. The stock has a 50-day moving average price of $37.13 and a 200 day moving average price of $36.09. The company has a quick ratio of 6.61, a current ratio of 6.61 and a debt-to-equity ratio of 1.49. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 3.06 and a beta of 0.79. UDR has a 12 month low of $30.95 and a 12 month high of $44.02.

UDR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were paid a $0.425 dividend. This is a boost from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.70 annualized dividend and a yield of 4.44%. UDR’s payout ratio is presently 123.19%.

Institutional Investors Weigh In On UDR

Several institutional investors have recently bought and sold shares of the company. Principal Securities Inc. acquired a new position in UDR during the fourth quarter worth $26,000. Fidelis Capital Partners LLC acquired a new position in shares of UDR during the 1st quarter worth about $26,000. Quest Partners LLC acquired a new position in shares of UDR during the 4th quarter worth about $27,000. Parkside Financial Bank & Trust raised its holdings in shares of UDR by 225.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 754 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in UDR by 87.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 669 shares during the period. 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.