Scotiabank Cuts UDR (NYSE:UDR) Price Target to $48.00

UDR (NYSE:UDR - Free Report) had its price objective cut by Scotiabank from $51.00 to $48.00 in a research note released on Friday morning,Benzinga reports. They currently have a sector perform rating on the real estate investment trust's stock.

Several other analysts also recently issued reports on the company. Barclays upped their price objective on UDR from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Royal Bank of Canada lifted their price target on shares of UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Mizuho lowered their price objective on UDR from $45.00 to $41.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Zelman & Associates reissued a "neutral" rating on shares of UDR in a research note on Thursday, February 13th. Finally, Truist Financial downgraded shares of UDR from a "buy" rating to a "hold" rating and upped their price objective for the company from $45.00 to $46.00 in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, UDR has a consensus rating of "Hold" and an average target price of $46.38.

UDR Price Performance

UDR traded down $0.06 during trading on Friday, reaching $41.17. 1,682,097 shares of the stock were exchanged, compared to its average volume of 2,154,279. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 164.68, a P/E/G ratio of 8.67 and a beta of 0.83. UDR has a 1 year low of $36.61 and a 1 year high of $47.55. The business's 50 day moving average price is $41.32 and its two-hundred day moving average price is $42.46.

UDR (NYSE:UDR - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. UDR had a net margin of 5.36% and a return on equity of 2.65%. The firm had revenue of $419.84 million during the quarter, compared to the consensus estimate of $421.23 million. During the same period last year, the firm posted $0.61 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that UDR will post 2.51 earnings per share for the current year.

UDR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 annualized dividend and a yield of 4.18%. UDR's dividend payout ratio is presently 491.43%.

Institutional Trading of UDR

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Beaird Harris Wealth Management LLC acquired a new position in UDR during the 1st quarter worth $28,000. Spire Wealth Management grew its stake in UDR by 3,079.2% in the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 739 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in UDR during the first quarter valued at approximately $47,000. Horizon Financial Services LLC bought a new position in UDR during the 1st quarter worth approximately $51,000. Finally, Smartleaf Asset Management LLC grew its position in shares of UDR by 68.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 491 shares in the last quarter. 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.