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

UDR (NYSE:UDR) had its target price decreased by research analysts at Scotiabank from $49.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target points to a potential upside of 8.33% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of UDR from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. UBS Group upped their price target on UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Wedbush raised their price objective on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Royal Bank of Canada decreased their price objective on UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, November 5th. Finally, Truist Financial increased their target price on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.18.

UDR Stock Performance

UDR stock opened at $44.31 on Thursday. The firm has a market cap of $14.62 billion, a PE ratio of 119.76, a price-to-earnings-growth ratio of 12.55 and a beta of 0.85. 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 stock has a 50-day moving average price of $44.62 and a 200-day moving average price of $42.03. UDR has a 1-year low of $32.37 and a 1-year high of $47.55.

Hedge Funds Weigh In On UDR

Several large investors have recently modified their holdings of the business. Capital Research Global Investors bought a new stake in shares of UDR during the 1st quarter valued at $176,137,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of UDR by 862.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,086,964 shares of the real estate investment trust’s stock valued at $139,963,000 after buying an additional 2,766,172 shares during the period. Mizuho Securities USA LLC boosted its position in shares of UDR by 8,460.5% in the third quarter. Mizuho Securities USA LLC now owns 2,000,000 shares of the real estate investment trust’s stock valued at $90,680,000 after acquiring an additional 1,976,637 shares during the period. Millennium Management LLC grew its stake in 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 valued at $143,990,000 after acquiring an additional 1,874,096 shares in the last quarter. Finally, FMR LLC increased its holdings in UDR by 14.8% during the 3rd quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust’s stock worth $516,923,000 after acquiring an additional 1,471,855 shares during the period. 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.