UDR (NYSE:UDR) Price Target Cut to $57.00 by Analysts at Piper Sandler

UDR (NYSE:UDR – Get Rating) had its target price dropped by Piper Sandler from $63.00 to $57.00 in a research note issued on Wednesday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 9.97% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. KeyCorp lifted their target price on shares of UDR from $61.00 to $63.00 and gave the company an “overweight” rating in a research note on Thursday, January 13th. Mizuho cut their target price on shares of UDR from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 16th. TheStreet lowered shares of UDR from a “b-” rating to a “c+” rating in a research note on Tuesday, April 26th. JPMorgan Chase & Co. lifted their price target on shares of UDR from $61.00 to $63.00 in a research report on Tuesday, January 18th. Finally, StockNews.com assumed coverage on shares of UDR in a research report on Thursday, March 31st. They set a “hold” rating for the company. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, UDR presently has an average rating of “Buy” and a consensus target price of $59.96.

Shares of UDR stock opened at $51.83 on Wednesday. The firm has a market cap of $16.50 billion, a PE ratio of 101.63, a price-to-earnings-growth ratio of 2.79 and a beta of 0.76. UDR has a 12-month low of $44.68 and a 12-month high of $61.06. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 1.64. The company’s fifty day simple moving average is $56.97 and its two-hundred day simple moving average is $56.86.

UDR (NYSE:UDR – Get Rating) last announced its earnings results on Tuesday, April 26th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.51). UDR had a net margin of 11.93% and a return on equity of 4.79%. During the same quarter in the prior year, the business posted $0.47 EPS. As a group, sell-side analysts expect that UDR will post 2.29 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in UDR by 9.1% in the fourth quarter. BlackRock Inc. now owns 34,773,820 shares of the real estate investment trust’s stock worth $2,086,082,000 after buying an additional 2,901,453 shares during the last quarter. State Street Corp raised its holdings in shares of UDR by 10.6% during the fourth quarter. State Street Corp now owns 18,489,137 shares of the real estate investment trust’s stock valued at $1,109,163,000 after purchasing an additional 1,772,966 shares during the last quarter. Norges Bank purchased a new position in shares of UDR during the fourth quarter valued at approximately $1,087,564,000. PGGM Investments raised its holdings in shares of UDR by 1,523.5% during the fourth quarter. PGGM Investments now owns 7,066,821 shares of the real estate investment trust’s stock valued at $423,939,000 after purchasing an additional 6,631,525 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of UDR during the third quarter valued at approximately $337,689,000. 96.39% of the stock is owned by institutional investors and hedge funds.

About UDR (Get Rating)

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 communities in targeted U.S.

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