Wedbush Reaffirms “Outperform” Rating for UDR (NYSE:UDR)

Wedbush restated their outperform rating on shares of UDR (NYSE:UDR) in a research report released on Monday, Benzinga reports. They currently have a $40.00 price objective on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Mizuho reduced their price objective on UDR from $38.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. The Goldman Sachs Group began coverage on shares of UDR in a research report on Thursday, February 22nd. They issued a neutral rating and a $39.00 price target on the stock. Morgan Stanley reaffirmed an equal weight rating and set a $37.00 price objective on shares of UDR in a research report on Monday, February 26th. UBS Group upgraded shares of UDR from a neutral rating to a buy rating and increased their target price for the company from $38.00 to $44.00 in a research note on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft started coverage on UDR in a research note on Tuesday, January 30th. They set a hold rating and a $40.00 price target on the stock. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, UDR currently has an average rating of Hold and a consensus price target of $41.44.

UDR Price Performance

Shares of NYSE:UDR opened at $37.49 on Monday. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 3.07 and a beta of 0.80. The business has a 50 day moving average price of $36.85 and a 200 day moving average price of $35.99. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR has a twelve month low of $30.95 and a twelve month high of $44.02.

UDR Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were paid a $0.425 dividend. This is a positive change 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 4.53%. UDR’s payout ratio is currently 126.87%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UDR. Exchange Traded Concepts LLC increased its position in shares of UDR by 5.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,302 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 299 shares in the last quarter. Czech National Bank grew its stake in UDR by 44.6% during the third quarter. Czech National Bank now owns 52,979 shares of the real estate investment trust’s stock worth $1,890,000 after buying an additional 16,342 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of UDR by 3.4% during the third quarter. Handelsbanken Fonder AB now owns 180,867 shares of the real estate investment trust’s stock worth $6,452,000 after buying an additional 5,937 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of UDR by 15.4% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 101,205 shares of the real estate investment trust’s stock worth $3,610,000 after buying an additional 13,500 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of UDR in the third quarter valued at approximately $803,000. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.