Piper Sandler Reiterates Underweight Rating for UDR (NYSE:UDR)

Piper Sandler reaffirmed their underweight rating on shares of UDR (NYSE:UDR) in a research note released on Tuesday morning, Benzinga reports. Piper Sandler currently has a $34.00 price target on the real estate investment trust’s stock.

Several other analysts have also issued reports on UDR. Mizuho decreased their price target on shares of UDR from $38.00 to $35.00 and set a neutral rating on the stock in a research report on Wednesday, February 28th. KeyCorp decreased their price target on shares of UDR from $48.00 to $45.00 and set an overweight rating on the stock in a research report on Wednesday, December 13th. Morgan Stanley restated an equal weight rating and issued a $37.00 price target on shares of UDR in a research report on Monday, February 26th. The Goldman Sachs Group began coverage on shares of UDR in a research report on Thursday, February 22nd. They set a neutral rating and a $39.00 target price on the stock. Finally, Barclays lowered shares of UDR from an overweight rating to an equal weight rating and decreased their target price for the company from $46.00 to $37.00 in a research report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $41.76.

UDR Stock Performance

NYSE UDR opened at $37.41 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.15 and a quick ratio of 5.15. The firm has a market capitalization of $12.32 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.92 and a beta of 0.80. The company’s fifty day moving average is $36.46 and its two-hundred day moving average is $35.94. UDR has a 52-week low of $30.95 and a 52-week high of $44.02.

UDR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.54%. UDR’s payout ratio is currently 125.37%.

Hedge Funds Weigh In On UDR

Institutional investors have recently modified their holdings of the stock. Clear Street Markets LLC raised its stake in shares of UDR by 96.1% in the first quarter. Clear Street Markets LLC now owns 606 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 297 shares during the last quarter. Principal Securities Inc. bought a new position in shares of UDR in the fourth quarter worth about $26,000. Quest Partners LLC bought a new position in shares of UDR in the fourth quarter worth about $27,000. International Assets Investment Management LLC bought a new position in shares of UDR in the third quarter worth about $35,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of UDR by 225.7% in the third quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 754 shares during the last quarter. 97.84% of the stock is owned by institutional investors.

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.