UDR (NYSE:UDR) Price Target Cut to $45.00 by Analysts at Royal Bank of Canada

UDR (NYSE:UDR) had its price target lowered by equities research analysts at Royal Bank of Canada from $46.00 to $45.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank of Canada’s price target points to a potential upside of 4.00% from the stock’s previous close.

Several other brokerages have also issued reports on UDR. Truist Financial boosted their price target on UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. The Goldman Sachs Group began coverage on shares of UDR in a research note on Wednesday, September 4th. They set a “sell” rating and a $42.00 price target on the stock. Scotiabank increased their price objective on shares of UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a research note on Monday, September 16th. Wedbush lifted their target price on shares of UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.24.

UDR Price Performance

Shares of UDR stock opened at $43.27 on Tuesday. The firm has a fifty day moving average price of $44.63 and a two-hundred day moving average price of $41.77. UDR has a fifty-two week low of $31.87 and a fifty-two week high of $47.55. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. The company has a market cap of $14.28 billion, a PE ratio of 116.95, a price-to-earnings-growth ratio of 9.18 and a beta of 0.85.

Institutional Trading of UDR

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in UDR by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 51,063,214 shares of the real estate investment trust’s stock worth $1,910,275,000 after buying an additional 233,475 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of UDR by 17.7% during the first quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after purchasing an additional 1,433,463 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of UDR by 2.2% during 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 in the last quarter. Capital Research Global Investors bought a new stake in shares of UDR during the first quarter valued at approximately $176,137,000. Finally, Millennium Management LLC increased its holdings in shares of UDR by 115.3% in the second quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock valued at $143,990,000 after purchasing an additional 1,874,096 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.