UDR (NYSE:UDR) Stock Rating Reaffirmed by Wedbush

UDR (NYSE:UDR - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Wedbush in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the real estate investment trust's stock. Wedbush's price objective would indicate a potential upside of 4.47% from the stock's previous close.

UDR has been the subject of several other reports. Truist Financial reduced their price objective on UDR from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a report on Tuesday, January 30th. They set a "hold" rating and a $40.00 price target for the company. Piper Sandler raised shares of UDR from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Wells Fargo & Company upgraded shares of UDR from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $34.00 to $39.00 in a research note on Monday, March 4th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $37.00 price target on shares of UDR in a research note on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $41.78.

UDR Stock Performance

NYSE UDR traded up $0.38 during trading on Monday, reaching $38.29. The company's stock had a trading volume of 2,531,024 shares, compared to its average volume of 2,941,095. The business's fifty day moving average price is $36.78 and its 200-day moving average price is $35.97. UDR has a twelve month low of $30.95 and a twelve month high of $44.02. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The firm has a market cap of $12.61 billion, a price-to-earnings ratio of 28.57, a P/E/G ratio of 3.03 and a beta of 0.80.

Hedge Funds Weigh In On UDR

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its stake in shares of UDR by 1.4% during the first quarter. Principal Financial Group Inc. now owns 362,917 shares of the real estate investment trust's stock valued at $13,577,000 after acquiring an additional 4,891 shares during the last quarter. Telos Capital Management Inc. boosted its position in UDR by 1.6% during the first quarter. Telos Capital Management Inc. now owns 34,759 shares of the real estate investment trust's stock worth $1,300,000 after acquiring an additional 547 shares during the last quarter. Fifth Third Bancorp grew its stake in UDR by 4.8% in the 1st quarter. Fifth Third Bancorp now owns 18,974 shares of the real estate investment trust's stock worth $710,000 after acquiring an additional 869 shares during the period. State of Alaska Department of Revenue raised its holdings in UDR by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 189,355 shares of the real estate investment trust's stock valued at $7,083,000 after acquiring an additional 551 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in UDR by 28.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,342,825 shares of the real estate investment trust's stock valued at $87,645,000 after purchasing an additional 512,388 shares during the last quarter. 97.84% of the stock is 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.