Evercore ISI upgraded shares of UDR Inc. (NYSE:UDR) from a hold rating to a buy rating in a research note published on Monday. Evercore ISI currently has $38.00 target price on the real estate investment trust’s stock.
Several other equities analysts also recently weighed in on UDR. Zacks Investment Research raised UDR from a sell rating to a hold rating in a research report on Friday, August 5th. Citigroup Inc. lifted their target price on UDR from $37.00 to $38.00 and gave the company a neutral rating in a research report on Tuesday, August 2nd. BTIG Research assumed coverage on UDR in a research report on Thursday, August 25th. They issued a buy rating and a $42.00 target price for the company. BMO Capital Markets downgraded UDR from an outperform rating to a market perform rating and dropped their target price for the company from $38.00 to $35.00 in a research report on Tuesday, October 25th. Finally, JPMorgan Chase & Co. reissued a buy rating and set a $40.00 price objective on shares of UDR in a research report on Wednesday, November 16th. One investment 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. UDR currently has an average rating of Hold and an average target price of $38.46.
UDR (NYSE:UDR) opened at 34.09 on Monday. UDR has a 12 month low of $32.79 and a 12 month high of $38.61. The company has a 50 day moving average of $33.96 and a 200 day moving average of $35.42.
UDR (NYSE:UDR) last released its earnings results on Tuesday, October 25th. The real estate investment trust reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. The company earned $243.25 million during the quarter, compared to the consensus estimate of $239.85 million. UDR had a return on equity of 7.52% and a net margin of 22.79%. UDR’s revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Equities analysts predict that UDR will post $1.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Tuesday, October 11th were paid a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date was Thursday, October 6th. UDR’s dividend payout ratio is currently 145.68%.
In other news, VP Warren L. Troupe sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 562,903 shares in the company, valued at $20,658,540.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Clinton D. Mcdonnough purchased 3,000 shares of the business’s stock in a transaction dated Friday, September 9th. The shares were bought at an average price of $34.54 per share, with a total value of $103,620.00. Following the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at $241,780. The disclosure for this purchase can be found here. 2.79% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in UDR. Credit Suisse AG boosted its stake in UDR by 17.3% in the third quarter. Credit Suisse AG now owns 1,379,758 shares of the real estate investment trust’s stock valued at $49,659,000 after buying an additional 203,606 shares during the period. Xact Kapitalforvaltning AB bought a new stake in UDR during the third quarter valued at approximately $953,000. Highbridge Capital Management LLC bought a new stake in UDR during the third quarter valued at approximately $1,979,000. D. E. Shaw & Co. Inc. bought a new stake in UDR during the third quarter valued at approximately $404,000. Finally, Ontario Teachers Pension Plan Board boosted its stake in UDR by 86.8% in the third quarter. Ontario Teachers Pension Plan Board now owns 95,099 shares of the real estate investment trust’s stock valued at $3,423,000 after buying an additional 44,176 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.
UDR Company Profile