UDR (NYSE:UDR) Price Target Cut to $51.00

UDR (NYSE:UDRGet Rating) had its target price reduced by stock analysts at Morgan Stanley from $56.00 to $51.00 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley’s target price suggests a potential upside of 7.69% from the company’s current price.

Several other equities analysts have also issued reports on the company. Piper Sandler lowered their price target on UDR from $63.00 to $57.00 in a research note on Wednesday, May 4th. Truist Financial decreased their price objective on UDR from $61.00 to $53.00 and set a “hold” rating on the stock in a report on Tuesday. Wolfe Research raised UDR from a “peer perform” rating to an “outperform” rating in a report on Tuesday, March 15th. Scotiabank reduced their price objective on UDR from $60.00 to $58.00 in a report on Thursday, May 19th. Finally, Barclays dropped their target price on shares of UDR from $63.00 to $56.00 in a research report on Tuesday, May 10th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $58.60.

Shares of NYSE:UDR traded down $0.44 on Wednesday, reaching $47.36. The company had a trading volume of 16,423 shares, compared to its average volume of 1,728,808. UDR has a twelve month low of $45.97 and a twelve month high of $61.06. The stock has a 50-day moving average price of $54.53 and a 200 day moving average price of $56.16. The stock has a market capitalization of $15.08 billion, a P/E ratio of 92.83, a P/E/G ratio of 2.23 and a beta of 0.76. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 1.64.

UDR (NYSE:UDRGet Rating) last posted its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.51). UDR had a return on equity of 4.79% and a net margin of 11.93%. During the same period in the prior year, the business earned $0.47 earnings per share. On average, sell-side analysts predict that UDR will post 2.3 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of UDR by 4.9% during the first quarter. Vanguard Group Inc. now owns 50,627,965 shares of the real estate investment trust’s stock worth $2,904,527,000 after purchasing an additional 2,353,851 shares during the period. BlackRock Inc. lifted its holdings in shares of UDR by 9.1% during 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 purchasing an additional 2,901,453 shares during the period. State Street Corp lifted its holdings in shares of UDR by 11.3% during the first quarter. State Street Corp now owns 20,573,811 shares of the real estate investment trust’s stock worth $1,180,320,000 after purchasing an additional 2,084,674 shares during the period. Norges Bank acquired a new position in UDR in the fourth quarter valued at $1,087,564,000. Finally, PGGM Investments lifted its holdings in UDR by 1,523.5% in 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 buying an additional 6,631,525 shares during the period. 96.39% of the stock is currently owned by institutional investors.

UDR Company Profile (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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