Scotiabank Increases UDR (NYSE:UDR) Price Target to $49.00

UDR (NYSE:UDR) had its price objective hoisted by Scotiabank from $45.00 to $49.00 in a research note issued to investors on Monday morning, Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust’s stock.

A number of other research firms also recently issued reports on UDR. The Goldman Sachs Group began coverage on UDR in a research note on Wednesday, September 4th. They issued a sell rating and a $42.00 price target on the stock. Wells Fargo & Company raised their target price on UDR from $41.00 to $48.00 and gave the stock an overweight rating in a research report on Monday, August 26th. Truist Financial upped their price target on shares of UDR from $44.00 to $47.00 and gave the company a buy rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of UDR from $40.00 to $44.00 and gave the stock a hold rating in a report on Tuesday, September 10th. Finally, BNP Paribas started coverage on shares of UDR in a report on Wednesday, September 11th. They set an outperform rating and a $49.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $44.28.

UDR Trading Down 0.1 %

UDR stock opened at $46.14 on Monday. UDR has a one year low of $30.95 and a one year high of $47.55. The business’s fifty day moving average is $42.83 and its 200 day moving average is $40.00. The stock has a market capitalization of $15.22 billion, a PE ratio of 33.44, a price-to-earnings-growth ratio of 10.30 and a beta of 0.85. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82.

UDR (NYSE:UDR) last announced its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a net margin of 8.34% and a return on equity of 3.70%. The company had revenue of $415.30 million for the quarter, compared to analysts’ expectations of $413.75 million. During the same period in the previous year, the business earned $0.61 EPS. The business’s revenue was up 2.7% compared to the same quarter last year. On average, sell-side analysts predict that UDR will post 2.46 EPS for the current year.

Hedge Funds Weigh In On UDR

A number of hedge funds have recently made changes to their positions in UDR. Capital Research Global Investors purchased a new position in UDR in the 1st quarter worth approximately $176,137,000. Centersquare Investment Management LLC lifted its holdings in shares of UDR by 35.9% in the fourth quarter. Centersquare Investment Management LLC now owns 8,117,175 shares of the real estate investment trust’s stock worth $310,807,000 after buying an additional 2,145,242 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of UDR during the fourth quarter worth $79,897,000. Millennium Management LLC boosted its position in shares of UDR by 115.3% during the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after acquiring an additional 1,874,096 shares during the last quarter. Finally, Heitman Real Estate Securities LLC purchased a new position in UDR during the fourth quarter valued at $60,952,000. Institutional investors own 97.84% 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 communities in targeted U.S.