Scotiabank Cuts UDR (NYSE:UDR) Price Target to $48.00

UDR (NYSE:UDR) had its price target reduced by analysts at Scotiabank from $49.00 to $48.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s target price indicates a potential upside of 7.21% from the stock’s current price.

Several other equities analysts also recently issued reports on UDR. StockNews.com downgraded shares of UDR from a “hold” rating to a “sell” rating in a report on Wednesday, November 6th. Royal Bank of Canada decreased their target price on UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, November 5th. Truist Financial increased their price target on shares of UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. UBS Group lifted their price objective on shares of UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Evercore ISI increased their price target on UDR from $42.00 to $43.00 and gave the stock an “in-line” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, UDR has an average rating of “Hold” and a consensus target price of $45.18.

UDR Stock Down 0.9 %

Shares of UDR stock traded down $0.42 on Thursday, reaching $44.77. The stock had a trading volume of 96,830 shares, compared to its average volume of 2,499,407. UDR has a 1 year low of $32.37 and a 1 year high of $47.55. The company has a 50 day moving average price of $44.62 and a 200 day moving average price of $42.01. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $14.77 billion, a P/E ratio of 121.00, a P/E/G ratio of 12.29 and a beta of 0.85.

Hedge Funds Weigh In On UDR

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in shares of UDR by 10.0% during the 3rd quarter. CWM LLC now owns 3,802 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 347 shares during the period. Empowered Funds LLC raised its stake in UDR by 7.1% during the third quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust’s stock worth $238,000 after purchasing an additional 350 shares during the period. Mather Group LLC. boosted its holdings in UDR by 58.2% in the 3rd quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 367 shares during the last quarter. Truist Financial Corp grew its stake in shares of UDR by 0.6% in the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust’s stock valued at $2,744,000 after buying an additional 414 shares during the period. Finally, TCV Trust & Wealth Management Inc. raised its position in UDR by 8.2% in the third quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 424 shares during the period. Hedge funds and other institutional investors own 97.84% of the company’s stock.

About UDR

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.