Zacks Investment Research cut shares of UDR (NYSE:UDR) from a hold rating to a sell rating in a research report sent to investors on Saturday, January 6th.
According to Zacks, “Shares of UDR have underperformed the industry it belongs to, in the past month. Notably, the company continues to deal with elevated level of apartment supply in a number of its markets. This limits the landlord’s ability to demand higher rents and also increases concessional activities. Moreover, the company’s extensive development pipeline exposes it to operational risks, entitlement delays and lease-up risks. Also, properties under development tend to drag margins till their completion. Further, any rise in interest rates remains a concern for the company. Nonetheless, UDR’s portfolio with superior product-mix, located in the targeted U.S. markets has the capacity to drive long-term growth in rental income.”
Several other equities analysts have also issued reports on UDR. UBS Group raised shares of UDR from a neutral rating to a buy rating and lifted their price target for the stock from $39.00 to $43.00 in a report on Friday, September 8th. Cantor Fitzgerald reaffirmed a buy rating and issued a $42.00 price target on shares of UDR in a report on Wednesday, September 13th. Robert W. Baird raised shares of UDR from a neutral rating to an outperform rating and set a $41.00 price target on the stock in a report on Thursday, October 5th. BMO Capital Markets set a $40.00 price target on shares of UDR and gave the stock a hold rating in a report on Tuesday, October 31st. Finally, Mizuho reaffirmed a buy rating and issued a $43.00 price target on shares of UDR in a report on Monday, November 6th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $39.85.
Shares of UDR (NYSE:UDR) traded up $0.64 during mid-day trading on Friday, reaching $36.53. 2,189,357 shares of the company traded hands, compared to its average volume of 1,490,274. The stock has a market capitalization of $9,660.00, a price-to-earnings ratio of 117.84, a price-to-earnings-growth ratio of 3.09 and a beta of 0.39. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 1.31. UDR has a 12 month low of $34.41 and a 12 month high of $40.71.
UDR (NYSE:UDR) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.40). The business had revenue of $251.09 million for the quarter, compared to analysts’ expectations of $250.13 million. UDR had a net margin of 29.41% and a return on equity of 10.18%. analysts anticipate that UDR will post 1.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th will be given a dividend of $0.31 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.24 dividend on an annualized basis and a yield of 3.39%. UDR’s dividend payout ratio is presently 400.00%.
In related news, CEO Thomas W. Toomey sold 20,000 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.20, for a total transaction of $784,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,127,925 shares in the company, valued at $44,214,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.07% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of UDR. Schwab Charles Investment Management Inc. raised its position in shares of UDR by 5.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 3,308,990 shares of the real estate investment trust’s stock worth $127,463,000 after acquiring an additional 160,335 shares during the period. Bank of Montreal Can raised its position in shares of UDR by 31.3% in the fourth quarter. Bank of Montreal Can now owns 617,633 shares of the real estate investment trust’s stock worth $23,792,000 after acquiring an additional 147,157 shares during the period. Quantitative Investment Management LLC raised its position in shares of UDR by 429.7% in the second quarter. Quantitative Investment Management LLC now owns 151,500 shares of the real estate investment trust’s stock worth $5,903,000 after acquiring an additional 122,900 shares during the period. Gateway Investment Advisers LLC raised its position in shares of UDR by 22.5% in the fourth quarter. Gateway Investment Advisers LLC now owns 649,504 shares of the real estate investment trust’s stock worth $25,019,000 after acquiring an additional 119,271 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of UDR by 1,009.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 126,794 shares of the real estate investment trust’s stock worth $4,884,000 after acquiring an additional 115,365 shares during the period. Institutional investors own 96.70% of the company’s stock.
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UDR Company Profile
UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.
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