Evercore ISI Upgrades UDR Inc. (UDR) to Buy
UDR Inc. (NYSE:UDR) was upgraded by equities research analysts at Evercore ISI from a “hold” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $38.00 target price on the real estate investment trust’s stock. Evercore ISI’s price target points to a potential upside of 11.14% from the company’s previous close.
A number of other brokerages have also weighed in on UDR. Citigroup Inc. raised their price target on shares of UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Tuesday, August 2nd. Mizuho raised shares of UDR from a “neutral” rating to a “buy” rating and raised their price target for the company from $37.00 to $41.00 in a report on Monday, August 1st. Zacks Investment Research raised shares of UDR from a “sell” rating to a “hold” rating in a report on Friday, August 5th. BTIG Research began coverage on shares of UDR in a report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target for the company. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $40.00 price target on shares of UDR in a report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.46.
Shares of UDR (NYSE:UDR) opened at 34.19 on Monday. The stock has a 50 day moving average price of $33.96 and a 200-day moving average price of $35.42. The stock has a market cap of $9.14 billion, a price-to-earnings ratio of 41.39 and a beta of 0.39. UDR has a 12-month low of $32.79 and a 12-month high of $38.61.
UDR (NYSE:UDR) last posted its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. UDR had a net margin of 22.79% and a return on equity of 7.52%. The company earned $243.25 million during the quarter, compared to analysts’ expectations of $239.85 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. UDR’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities analysts anticipate that UDR will post $1.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Thursday, October 6th. UDR’s dividend payout ratio (DPR) is 145.68%.
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In related news, VP Warren L. Troupe sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $36.70, for a total value of $550,500.00. Following the sale, the vice president now directly owns 562,903 shares of the company’s stock, valued at approximately $20,658,540.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Clinton D. Mcdonnough acquired 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was bought at an average cost of $34.54 per share, for a total transaction of $103,620.00. Following the completion of the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $241,780. The disclosure for this purchase can be found here. 2.79% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of UDR. Victory Capital Management Inc. boosted its stake in UDR by 49.5% in the third quarter. Victory Capital Management Inc. now owns 5,099 shares of the real estate investment trust’s stock valued at $184,000 after buying an additional 1,689 shares in the last quarter. Global X Management Co. LLC boosted its stake in UDR by 198.4% in the second quarter. Global X Management Co. LLC now owns 5,133 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 3,413 shares in the last quarter. US Bancorp DE boosted its stake in UDR by 26.2% in the third quarter. US Bancorp DE now owns 5,648 shares of the real estate investment trust’s stock valued at $204,000 after buying an additional 1,173 shares in the last quarter. Conning Inc. bought a new stake in UDR during the second quarter valued at approximately $207,000. Finally, Norinchukin Bank The boosted its stake in UDR by 4.7% in the second quarter. Norinchukin Bank The now owns 5,859 shares of the real estate investment trust’s stock valued at $216,000 after buying an additional 262 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.
UDR, Inc is a real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Company operates through two segments: Same-Store Communities and Non-Mature Communities/Other.
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