Today: Evercore ISI Upgraded UDR Inc. (UDR) to “Buy”

Today: Evercore ISI Upgraded UDR Inc. (UDR) to “Buy”

UDR Inc. (NYSE:UDR) was upgraded by analysts at Evercore ISI from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

Several other analysts have also commented on UDR. Zacks Investment Research raised shares of UDR from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. Citigroup Inc. upped their price target on shares of UDR from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. BTIG Research began coverage on shares of UDR in a research report on Thursday, August 25th. They issued a “buy” rating and a $42.00 price target for the company. BMO Capital Markets downgraded shares of UDR from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $38.00 to $35.00 in a research report on Tuesday, October 25th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $40.00 price target on shares of UDR in a research report on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.46.

Shares of UDR (NYSE:UDR) traded up 1.67% during mid-day trading on Monday, hitting $34.08. 547,727 shares of the stock traded hands. The stock has a 50-day moving average of $33.94 and a 200-day moving average of $35.46. UDR has a 52 week low of $32.79 and a 52 week high of $38.61.

UDR (NYSE:UDR) last released its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. UDR had a net margin of 22.79% and a return on equity of 7.52%. The business earned $243.25 million during the quarter, compared to analyst estimates of $239.85 million. During the same period in the prior year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts predict that UDR will post $1.79 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 31st. Stockholders of record on Tuesday, October 11th were paid a dividend of $0.295 per share. The ex-dividend date was Thursday, October 6th. This represents a $1.18 annualized dividend and a dividend yield of 3.52%. UDR’s dividend payout ratio (DPR) is 145.68%.

In other UDR news, Director Clinton D. Mcdonnough purchased 3,000 shares of the company’s stock in a transaction dated Friday, September 9th. The shares were bought at an average price of $34.54 per share, for a total transaction of $103,620.00. Following the purchase, the director now directly owns 7,000 shares in the company, valued at approximately $241,780. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Warren L. Troupe sold 15,000 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $36.70, for a total transaction of $550,500.00. Following the transaction, the vice president now owns 562,903 shares in the company, valued at approximately $20,658,540.10. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in UDR by 3.0% in the second quarter. Vanguard Group Inc. now owns 44,596,913 shares of the real estate investment trust’s stock worth $1,646,518,000 after buying an additional 1,283,909 shares during the last quarter. Cohen & Steers Inc. raised its position in UDR by 6.7% in the second quarter. Cohen & Steers Inc. now owns 43,332,308 shares of the real estate investment trust’s stock worth $1,599,829,000 after buying an additional 2,719,419 shares during the last quarter. FMR LLC raised its position in UDR by 12.1% in the second quarter. FMR LLC now owns 26,196,706 shares of the real estate investment trust’s stock worth $967,182,000 after buying an additional 2,817,406 shares during the last quarter. Daiwa Securities Group Inc. raised its position in UDR by 5.3% in the third quarter. Daiwa Securities Group Inc. now owns 17,807,981 shares of the real estate investment trust’s stock worth $640,910,000 after buying an additional 896,521 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in UDR by 3.8% in the third quarter. BlackRock Fund Advisors now owns 11,138,382 shares of the real estate investment trust’s stock worth $400,870,000 after buying an additional 412,547 shares during the last quarter. Institutional investors own 99.55% of the company’s stock.

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