Zacks Investment Research upgraded shares of UDR (NYSE:UDR) from a sell rating to a hold rating in a research report sent to investors on Friday, March 9th.
According to Zacks, “Shares of UDR have outperformed the industry it belongs to in the past month. Further, the stock witnessed the Zacks Consensus Estimate for 2018 funds from operations (FFO) per share remain unchanged in a week’s time. Last month, UDR reported its fourth-quarter 2017 results that reflected an increase in revenues from same-store communities and stabilized non-mature communities. Moreover, the company’s portfolio, located in the targeted U.S. markets, has a superior product-mix. However, the company continues to deal with an elevated level of apartment supply in a number of its markets. This is likely to limit the landlord’s ability to demand higher rents and also increase concessional activities. Moreover, any rise in interest rates remains a concern for the company.”
A number of other analysts also recently commented on the company. Bank of America raised UDR from a neutral rating to a buy rating and set a $40.00 price objective on the stock in a research note on Friday, March 9th. BMO Capital Markets reissued a hold rating and issued a $38.00 price objective on shares of UDR in a research note on Friday, March 2nd. Robert W. Baird set a $38.00 price objective on UDR and gave the stock a buy rating in a research note on Friday, March 2nd. Cantor Fitzgerald reissued an overweight rating and issued a $40.00 price objective (down previously from $42.00) on shares of UDR in a research note on Wednesday, February 21st. Finally, SunTrust Banks set a $38.00 price objective on UDR and gave the stock a hold rating in a research note on Monday, February 12th. Thirteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $38.71.
UDR stock traded down $0.44 during mid-day trading on Friday, hitting $35.18. 1,701,815 shares of the company’s stock traded hands, compared to its average volume of 1,667,666. The company has a debt-to-equity ratio of 1.32, a current ratio of 4.93 and a quick ratio of 4.93. The company has a market capitalization of $9,551.86, a P/E ratio of 18.81, a PEG ratio of 3.30 and a beta of 0.36. UDR has a one year low of $32.88 and a one year high of $40.71.
UDR (NYSE:UDR) last announced its earnings results on Tuesday, February 6th. The real estate investment trust reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. UDR had a return on equity of 4.53% and a net margin of 12.21%. The firm had revenue of $250.12 million for the quarter, compared to the consensus estimate of $250.37 million. During the same quarter in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. research analysts expect that UDR will post 1.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Monday, April 9th will be issued a $0.3225 dividend. This represents a $1.29 dividend on an annualized basis and a dividend yield of 3.67%. This is a boost from UDR’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Friday, April 6th. UDR’s payout ratio is presently 66.31%.
In other news, VP Warren L. Troupe sold 30,000 shares of UDR stock in a transaction on Friday, March 16th. The stock was sold at an average price of $35.91, for a total transaction of $1,077,300.00. Following the transaction, the vice president now owns 528,378 shares in the company, valued at $18,974,053.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas W. Toomey sold 13,000 shares of UDR stock in a transaction on Wednesday, March 28th. The shares were sold at an average price of $35.50, for a total value of $461,500.00. Following the transaction, the chief executive officer now owns 1,149,390 shares in the company, valued at approximately $40,803,345. The disclosure for this sale can be found here. Insiders sold a total of 63,000 shares of company stock worth $2,256,800 over the last 90 days. Insiders own 3.07% of the company’s stock.
Several hedge funds have recently modified their holdings of UDR. Deutsche Bank AG grew its holdings in shares of UDR by 271.1% during the fourth quarter. Deutsche Bank AG now owns 3,011,378 shares of the real estate investment trust’s stock valued at $115,993,000 after buying an additional 2,200,003 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of UDR by 20.2% during the fourth quarter. Renaissance Technologies LLC now owns 7,889,498 shares of the real estate investment trust’s stock valued at $303,903,000 after buying an additional 1,327,664 shares in the last quarter. BlackRock Inc. grew its holdings in shares of UDR by 1.2% during the fourth quarter. BlackRock Inc. now owns 29,344,904 shares of the real estate investment trust’s stock valued at $1,130,365,000 after buying an additional 354,311 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of UDR by 118.4% during the fourth 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 buying an additional 317,789 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in shares of UDR during the fourth quarter valued at $11,151,000. Institutional investors and hedge funds own 97.69% 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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