UDR (UDR) Rating Lowered to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of UDR (NYSE:UDR) from an outperform rating to a neutral rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has $42.00 target price on the real estate investment trust’s stock.

Several other equities analysts also recently issued reports on UDR. Citigroup upped their target price on UDR from $39.00 to $40.00 and gave the company a neutral rating in a research report on Thursday, August 2nd. ValuEngine raised UDR from a hold rating to a buy rating in a research report on Tuesday, November 13th. Royal Bank of Canada upped their target price on UDR from $39.00 to $40.00 and gave the company a sector perform rating in a research report on Friday, August 10th. Zacks Investment Research raised UDR from a hold rating to a buy rating and set a $41.00 target price on the stock in a research report on Wednesday, July 25th. Finally, Capital One Financial assumed coverage on UDR in a research report on Monday, November 19th. They issued an equal weight rating and a $43.00 target price on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. UDR currently has an average rating of Hold and an average target price of $40.00.

NYSE UDR opened at $41.19 on Tuesday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 5.97 and a current ratio of 5.97. UDR has a 1 year low of $32.88 and a 1 year high of $41.64. The firm has a market capitalization of $11.05 billion, a P/E ratio of 22.03, a PEG ratio of 3.51 and a beta of 0.32.

UDR (NYSE:UDR) last released its earnings results on Monday, October 29th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.07. UDR had a return on equity of 7.09% and a net margin of 18.43%. The firm had revenue of $266.10 million for the quarter, compared to the consensus estimate of $258.90 million. During the same period in the prior year, the firm earned $0.06 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, analysts expect that UDR will post 1.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were given a dividend of $0.3323 per share. This is an increase from UDR’s previous quarterly dividend of $0.32. This represents a $1.33 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Tuesday, October 9th. UDR’s dividend payout ratio (DPR) is currently 68.98%.

In other UDR news, CEO Thomas W. Toomey sold 40,000 shares of the stock in a transaction dated Wednesday, November 14th. The stock was sold at an average price of $41.20, for a total transaction of $1,648,000.00. Following the sale, the chief executive officer now directly owns 1,746,826 shares of the company’s stock, valued at approximately $71,969,231.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Harry G. Alcock sold 10,000 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $40.45, for a total value of $404,500.00. Following the sale, the senior vice president now directly owns 126,123 shares in the company, valued at $5,101,675.35. The disclosure for this sale can be found here. Insiders have sold a total of 74,773 shares of company stock worth $3,062,629 over the last ninety days. 3.16% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in UDR. Advisors Asset Management Inc. boosted its stake in shares of UDR by 499.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 359,568 shares of the real estate investment trust’s stock worth $2,276,000 after acquiring an additional 299,543 shares in the last quarter. Vident Investment Advisory LLC boosted its stake in shares of UDR by 210.8% during the 2nd quarter. Vident Investment Advisory LLC now owns 29,367 shares of the real estate investment trust’s stock worth $1,102,000 after acquiring an additional 19,918 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of UDR during the 2nd quarter worth about $2,094,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of UDR by 3.0% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,849 shares of the real estate investment trust’s stock worth $3,260,000 after acquiring an additional 2,566 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of UDR by 8.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 765,566 shares of the real estate investment trust’s stock worth $28,739,000 after acquiring an additional 62,000 shares in the last quarter. 96.13% of the stock is currently owned by institutional investors.

UDR Company Profile

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 properties in targeted U.S.

Further Reading: Buyback

Analyst Recommendations for UDR (NYSE:UDR)

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