UDR (NYSE:UDR) Sees Unusually-High Trading Volume After Analyst Upgrade

UDR, Inc. (NYSE:UDR – Get Rating) shares saw unusually-strong trading volume on Thursday after Barclays raised their price target on the stock from $44.00 to $50.00. Barclays currently has an overweight rating on the stock. Approximately 4,560,471 shares changed hands during mid-day trading, an increase of 77% from the previous session’s volume of 2,576,625 shares.The stock last traded at $41.59 and had previously closed at $41.65.

Several other research analysts have also recently commented on UDR. KeyCorp reduced their price target on UDR from $55.00 to $48.00 and set an “overweight” rating for the company in a research report on Wednesday, December 7th. Morgan Stanley raised UDR from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $49.00 to $47.00 in a report on Friday, December 2nd. UBS Group assumed coverage on UDR in a report on Thursday, December 15th. They set a “neutral” rating and a $43.00 price objective on the stock. Robert W. Baird raised their price objective on UDR from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of UDR in a research report on Wednesday, November 30th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $47.87.

Institutional Investors Weigh In On UDR

A number of hedge funds have recently modified their holdings of UDR. Private Advisor Group LLC raised its holdings in shares of UDR by 4.8% in the 1st quarter. Private Advisor Group LLC now owns 10,150 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 461 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of UDR by 9.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,015 shares of the real estate investment trust’s stock worth $2,296,000 after purchasing an additional 3,535 shares during the period. Aviva PLC raised its holdings in shares of UDR by 68.5% in the 1st quarter. Aviva PLC now owns 72,356 shares of the real estate investment trust’s stock worth $4,151,000 after purchasing an additional 29,403 shares during the period. Allianz Asset Management GmbH raised its holdings in UDR by 0.6% during the 1st quarter. Allianz Asset Management GmbH now owns 465,509 shares of the real estate investment trust’s stock valued at $26,706,000 after acquiring an additional 2,630 shares during the period. Finally, Prudential PLC bought a new stake in UDR during the 1st quarter valued at $369,000. Institutional investors own 92.09% of the company’s stock.

UDR Price Performance

The business’s fifty day simple moving average is $41.49 and its 200-day simple moving average is $41.68. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.35. The firm has a market cap of $13.86 billion, a P/E ratio of 168.44, a PEG ratio of 2.14 and a beta of 0.75.

UDR (NYSE:UDR – Get Rating) last issued its earnings results on Monday, February 6th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.48). UDR had a net margin of 5.73% and a return on equity of 2.66%. The business had revenue of $399.70 million for the quarter, compared to the consensus estimate of $399.16 million. During the same period in the previous year, the firm earned $0.54 EPS. The company’s revenue was up 15.2% compared to the same quarter last year. As a group, analysts forecast that UDR, Inc. will post 2.5 EPS for the current fiscal year.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Monday, January 9th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Friday, January 6th. This represents a $1.52 dividend on an annualized basis and a yield of 3.61%. UDR’s payout ratio is 608.00%.

UDR Company Profile

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UDR, Inc is a real estate investment trust, which owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities. It engages in the multi-family real estate investment trust business. The firm operates through the Same-Store Communities and Non-Mature Communities/Other segments.