UDR (NYSE:UDR) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of UDR (NYSE:UDR) in a research report released on Wednesday, Marketbeat reports. The firm issued a sell rating and a $42.00 price target on the real estate investment trust’s stock.

A number of other research firms also recently commented on UDR. BMO Capital Markets upgraded shares of UDR from a market perform rating to an outperform rating and increased their price objective for the company from $39.00 to $45.00 in a report on Monday, July 15th. Wells Fargo & Company increased their price target on UDR from $41.00 to $48.00 and gave the company an overweight rating in a report on Monday, August 26th. Piper Sandler boosted their price objective on UDR from $40.00 to $46.00 and gave the stock a neutral rating in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their target price on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Finally, Truist Financial boosted their price target on shares of UDR from $44.00 to $47.00 and gave the company a buy rating in a research report on Monday, August 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, UDR presently has a consensus rating of Hold and an average price target of $42.82.

UDR Stock Performance

Shares of NYSE:UDR opened at $44.04 on Wednesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82. UDR has a 1 year low of $30.95 and a 1 year high of $45.10. The firm has a market capitalization of $14.50 billion, a PE ratio of 31.91, a P/E/G ratio of 9.78 and a beta of 0.85. The business’s 50 day moving average price is $41.86 and its 200-day moving average price is $39.35.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.53). The business had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm earned $0.61 EPS. As a group, equities research analysts expect that UDR will post 2.46 earnings per share for the current fiscal year.

UDR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.86%. UDR’s dividend payout ratio is currently 123.19%.

Institutional Investors Weigh In On UDR

Several institutional investors and hedge funds have recently modified their holdings of UDR. Vanguard Group Inc. increased its stake in UDR by 0.5% during the first quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after purchasing an additional 233,475 shares during the period. Norges Bank purchased a new stake in UDR during the 4th quarter worth approximately $1,065,482,000. Cohen & Steers Inc. lifted its holdings in UDR by 3.8% during the 4th quarter. Cohen & Steers Inc. now owns 26,775,574 shares of the real estate investment trust’s stock worth $1,025,351,000 after buying an additional 984,807 shares in the last quarter. Centersquare Investment Management LLC boosted its position in UDR by 17.7% in the 1st quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock valued at $363,688,000 after buying an additional 1,433,463 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in UDR by 22.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 7,467,881 shares of the real estate investment trust’s stock valued at $279,373,000 after buying an additional 1,359,804 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

UDR Company Profile

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.