UDR (NYSE:UDR)‘s stock had its “overweight” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued on Wednesday, MarketBeat reports. They currently have a $40.00 target price on the real estate investment trust’s stock, down from their previous target price of $42.00. Cantor Fitzgerald’s price target would suggest a potential upside of 19.37% from the stock’s current price.
The analysts wrote, “Estimate Update. We are lowing our 2018 FFO/sh. to $1.93 from $1.98. Our 2019 FFO/sh estimate is $2.05. Our NAV/sh. estimate is $40.00 vs. $40.20 prior, based on an applied cap rate of 4.89%. Same store assumptions underlying our 2018 estimates include revenue growth of 3.0%, expense growth 2.7% and NOI growth of 3.0%. 2018 SS outlook includes revenue, expense and NOI rises of 2.5-3.5% each.””
Other analysts have also recently issued reports about the company. Zacks Investment Research raised UDR from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. TheStreet cut UDR from a “b-” rating to a “c” rating in a research report on Tuesday, February 6th. BMO Capital Markets reissued a “hold” rating and issued a $41.00 price target on shares of UDR in a report on Monday, November 27th. Mizuho set a $38.00 price target on UDR and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $38.00 price target on shares of UDR in a report on Friday, January 19th. Twelve equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $39.23.
UDR (NYSE UDR) traded up $0.07 during trading on Wednesday, reaching $33.51. The company’s stock had a trading volume of 26,101 shares, compared to its average volume of 1,682,006. UDR has a 52 week low of $32.88 and a 52 week high of $40.71. The company has a quick ratio of 5.45, a current ratio of 4.93 and a debt-to-equity ratio of 1.32. The firm has a market cap of $8,908.28, a PE ratio of 77.77, a price-to-earnings-growth ratio of 3.00 and a beta of 0.33.
UDR (NYSE:UDR) last posted its quarterly earnings data on Tuesday, February 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. UDR had a return on equity of 4.53% and a net margin of 12.21%. The company had revenue of $250.12 million during the quarter, compared to analysts’ expectations of $250.37 million. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. equities analysts predict that UDR will post 1.95 EPS for the current year.
In other news, CEO Thomas W. Toomey sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $39.20, for a total value of $784,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,127,925 shares of the company’s stock, valued at approximately $44,214,660. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.07% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UDR. Deutsche Bank AG increased its stake in UDR by 271.1% in the 4th quarter. Deutsche Bank AG now owns 3,011,378 shares of the real estate investment trust’s stock valued at $115,993,000 after purchasing an additional 2,200,003 shares in the last quarter. Renaissance Technologies LLC increased its stake in UDR by 20.2% in the 4th quarter. Renaissance Technologies LLC now owns 7,889,498 shares of the real estate investment trust’s stock valued at $303,903,000 after purchasing an additional 1,327,664 shares in the last quarter. BlackRock Inc. increased its stake in UDR by 1.2% in the 4th quarter. BlackRock Inc. now owns 29,344,904 shares of the real estate investment trust’s stock valued at $1,130,365,000 after purchasing an additional 354,311 shares in the last quarter. Martingale Asset Management L P increased its stake in UDR by 118.4% in the 4th quarter. Martingale Asset Management L P now owns 586,239 shares of the real estate investment trust’s stock valued at $22,583,000 after purchasing an additional 317,789 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in UDR in the 4th quarter valued at approximately $11,151,000. 96.02% of the stock is owned by hedge funds and other institutional investors.
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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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