Barclays Lowers UDR (NYSE:UDR) Price Target to $48.00

UDR (NYSE:UDR) had its price target reduced by Barclays from $50.00 to $48.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. Scotiabank decreased their price target on UDR from $49.00 to $48.00 and set a “sector perform” rating for the company in a report on Thursday, November 14th. StockNews.com downgraded shares of UDR from a “hold” rating to a “sell” rating in a report on Thursday, January 2nd. Mizuho cut their price objective on shares of UDR from $47.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Royal Bank of Canada lowered their target price on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group lowered UDR from a “buy” rating to a “hold” rating and cut their price target for the company from $50.00 to $45.00 in a research note on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, UDR currently has an average rating of “Hold” and a consensus price target of $46.06.

UDR Price Performance

Shares of NYSE:UDR opened at $40.63 on Friday. UDR has a twelve month low of $34.19 and a twelve month high of $47.55. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 1.69. The company has a market cap of $13.41 billion, a PE ratio of 109.81, a price-to-earnings-growth ratio of 11.03 and a beta of 0.89. The company’s 50 day moving average is $43.42 and its 200 day moving average is $43.38.

UDR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 9th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, January 10th. UDR’s dividend payout ratio is currently 459.47%.

Hedge Funds Weigh In On UDR

Several institutional investors and hedge funds have recently bought and sold shares of UDR. Envestnet Asset Management Inc. raised its position in shares of UDR by 77.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 185,559 shares of the real estate investment trust’s stock valued at $7,636,000 after buying an additional 80,706 shares during the period. Intech Investment Management LLC increased its stake in UDR by 86.8% during the second quarter. Intech Investment Management LLC now owns 10,620 shares of the real estate investment trust’s stock worth $437,000 after acquiring an additional 4,935 shares during the last quarter. Pacer Advisors Inc. raised its position in UDR by 4.8% in the second quarter. Pacer Advisors Inc. now owns 21,589 shares of the real estate investment trust’s stock valued at $888,000 after purchasing an additional 986 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of UDR by 17.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 41,859 shares of the real estate investment trust’s stock valued at $1,722,000 after purchasing an additional 6,327 shares during the last quarter. Finally, Bank of Montreal Can grew its holdings in shares of UDR by 3.4% during the 2nd quarter. Bank of Montreal Can now owns 443,492 shares of the real estate investment trust’s stock worth $18,250,000 after purchasing an additional 14,755 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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 communities in targeted U.S.