UDR (NYSE:UDR) Stock Rating Lowered by Scotiabank

Scotiabank cut shares of UDR (NYSE:UDR) from a sector outperform rating to a sector perform rating in a research note released on Wednesday, Marketbeat.com reports. The brokerage currently has $39.00 price objective on the real estate investment trust’s stock.

UDR has been the subject of a number of other reports. Morgan Stanley reaffirmed an equal weight rating and issued a $37.00 price objective on shares of UDR in a research report on Monday, February 26th. The Goldman Sachs Group began coverage on UDR in a research report on Thursday, February 22nd. They set a neutral rating and a $39.00 price target for the company. Wells Fargo & Company raised UDR from an equal weight rating to an overweight rating and boosted their price objective for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. Barclays downgraded UDR from an overweight rating to an equal weight rating and cut their price target for the stock from $46.00 to $37.00 in a research note on Tuesday, February 20th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a research note on Tuesday, January 30th. They issued a hold rating and a $40.00 target price for the company. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, UDR currently has an average rating of Hold and an average price target of $41.44.

UDR Price Performance

UDR opened at $37.49 on Wednesday. The firm’s fifty day moving average price is $36.85 and its two-hundred day moving average price is $35.99. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 27.17, a P/E/G ratio of 3.05 and a beta of 0.78. The company has a debt-to-equity ratio of 1.47, a current ratio of 5.15 and a quick ratio of 5.15. UDR has a 1 year low of $30.95 and a 1 year high of $44.02.

UDR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.53%. 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. UDR’s dividend payout ratio is presently 123.19%.

Hedge Funds Weigh In On UDR

Several institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in shares of UDR by 3,730.9% in the fourth quarter. International Assets Investment Management LLC now owns 37,351 shares of the real estate investment trust’s stock worth $1,430,000 after purchasing an additional 36,376 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in UDR by 79.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,830,437 shares of the real estate investment trust’s stock valued at $70,087,000 after purchasing an additional 809,273 shares during the last quarter. IFM Investors Pty Ltd lifted its holdings in UDR by 1.3% in the 4th quarter. IFM Investors Pty Ltd now owns 66,266 shares of the real estate investment trust’s stock worth $2,537,000 after buying an additional 847 shares during the period. Daiwa Securities Group Inc. grew its position in shares of UDR by 7.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 6,108,077 shares of the real estate investment trust’s stock worth $233,878,000 after buying an additional 403,377 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of UDR in the 3rd quarter worth approximately $1,088,000. 97.84% of the stock is currently owned by institutional investors.

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.