UDR (NYSE:UDR) Price Target Cut to $48.00 by Analysts at Scotiabank

UDR (NYSE:UDR) had its target price dropped by stock analysts at Scotiabank from $49.00 to $48.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Scotiabank’s price target would indicate a potential upside of 8.33% from the company’s current price.

UDR has been the topic of a number of other research reports. Royal Bank of Canada lowered their price target on UDR from $46.00 to $45.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Truist Financial increased 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. UBS Group boosted their price objective on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday, September 12th. Finally, Wedbush increased their target price on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.18.

UDR Stock Performance

UDR stock opened at $44.31 on Thursday. UDR has a fifty-two week low of $32.37 and a fifty-two week high of $47.55. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91. The stock has a market cap of $14.62 billion, a P/E ratio of 119.76, a price-to-earnings-growth ratio of 12.55 and a beta of 0.85. The firm’s fifty day moving average price is $44.62 and its 200-day moving average price is $42.03.

Hedge Funds Weigh In On UDR

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of 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 valued at $1,910,275,000 after buying an additional 233,475 shares during the period. FMR LLC grew its holdings in shares of UDR by 14.8% during the 3rd quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust’s stock worth $516,923,000 after acquiring an additional 1,471,855 shares during the period. Centersquare Investment Management LLC raised its position in shares of 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 worth $363,688,000 after acquiring an additional 1,433,463 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of UDR by 2.3% during the third quarter. Daiwa Securities Group Inc. now owns 7,109,980 shares of the real estate investment trust’s stock valued at $322,366,000 after purchasing an additional 159,625 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in UDR by 2.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,732,429 shares of the real estate investment trust’s stock worth $194,737,000 after purchasing an additional 103,384 shares during the period. 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.