UDR (NYSE:UDR) Downgraded to C+ at TheStreet

TheStreet downgraded shares of UDR (NYSE:UDR) from a b- rating to a c+ rating in a report published on Friday, TheStreetRatingsTable reports.

Several other research firms also recently commented on UDR. Robert W. Baird upgraded shares of UDR from a neutral rating to an outperform rating and upped their price target for the company from $48.00 to $51.00 in a research note on Monday, October 14th. Morgan Stanley upped their price target on shares of UDR from $48.00 to $51.00 and gave the company an equal weight rating in a research note on Friday, September 6th. Citigroup upped their price target on shares of UDR from $47.00 to $49.00 and gave the company a neutral rating in a research note on Wednesday, November 6th. Capital One Financial upgraded shares of UDR from an equal weight rating to an overweight rating and upped their price target for the company from $45.00 to $50.00 in a research note on Monday, September 16th. Finally, Wells Fargo & Co upped their price target on shares of UDR from $46.00 to $47.00 and gave the company a market perform rating in a research note on Tuesday, August 13th. Ten research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $49.25.

Shares of UDR stock traded up $0.39 on Friday, hitting $49.08. The company’s stock had a trading volume of 629,983 shares, compared to its average volume of 1,633,442. The company has a debt-to-equity ratio of 1.22, a quick ratio of 5.99 and a current ratio of 5.99. The stock’s 50 day moving average is $48.81 and its 200-day moving average is $46.90. UDR has a fifty-two week low of $38.14 and a fifty-two week high of $50.61. The company has a market capitalization of $14.20 billion, a PE ratio of 25.04, a PEG ratio of 3.63 and a beta of 0.41.

UDR (NYSE:UDR) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.43). UDR had a net margin of 15.20% and a return on equity of 5.51%. The business had revenue of $295.40 million during the quarter, compared to analyst estimates of $285.45 million. During the same quarter last year, the company posted $0.07 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that UDR will post 2.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.3425 per share. The ex-dividend date was Wednesday, October 9th. This represents a $1.37 annualized dividend and a yield of 2.79%. UDR’s dividend payout ratio is 69.90%.

In other news, CEO Thomas W. Toomey sold 40,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $48.61, for a total value of $1,944,400.00. Following the completion of the transaction, the chief executive officer now owns 1,642,826 shares of the company’s stock, valued at $79,857,771.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joseph D. Fisher sold 3,100 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $48.23, for a total transaction of $149,513.00. Following the completion of the transaction, the chief financial officer now directly owns 25,294 shares of the company’s stock, valued at approximately $1,219,929.62. The disclosure for this sale can be found here. Insiders have sold 83,100 shares of company stock valued at $4,034,713 in the last ninety days. 2.85% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of UDR. Marshall Wace LLP bought a new position in shares of UDR in the first quarter worth about $157,000. Amundi Pioneer Asset Management Inc. lifted its holdings in shares of UDR by 36.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 383,735 shares of the real estate investment trust’s stock worth $17,445,000 after acquiring an additional 102,266 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of UDR by 2.4% in the second quarter. Retirement Systems of Alabama now owns 131,395 shares of the real estate investment trust’s stock worth $5,898,000 after acquiring an additional 3,058 shares during the last quarter. DAVENPORT & Co LLC lifted its holdings in shares of UDR by 10.6% in the second quarter. DAVENPORT & Co LLC now owns 31,895 shares of the real estate investment trust’s stock worth $1,432,000 after acquiring an additional 3,050 shares during the last quarter. Finally, Hexavest Inc. lifted its holdings in shares of UDR by 5.0% in the second quarter. Hexavest Inc. now owns 860,135 shares of the real estate investment trust’s stock worth $38,611,000 after acquiring an additional 40,664 shares during the last quarter. 94.20% of the stock is owned by hedge funds and other institutional investors.

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 properties in targeted U.S.

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Analyst Recommendations for UDR (NYSE:UDR)

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