UDR’s (UDR) Underweight Rating Reiterated at Piper Sandler

Piper Sandler reiterated their underweight rating on shares of UDR (NYSE:UDR) in a research note released on Tuesday, Benzinga reports. They currently have a $34.00 target price on the real estate investment trust’s stock.

UDR has been the subject of several other reports. Barclays lowered UDR from an overweight rating to an equal weight rating and cut their price objective for the stock from $46.00 to $37.00 in a research note on Tuesday, February 20th. Morgan Stanley restated an equal weight rating and issued a $37.00 price target on shares of UDR in a research report on Monday, February 26th. The Goldman Sachs Group initiated coverage on UDR in a research report on Thursday, February 22nd. They issued a neutral rating and a $39.00 price target for the company. Mizuho dropped their price target on UDR from $38.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on UDR in a research report on Tuesday, January 30th. They issued a hold rating and a $40.00 price target for the company. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $41.76.

UDR Price Performance

NYSE:UDR opened at $37.41 on Tuesday. UDR has a 12 month low of $30.95 and a 12 month high of $44.02. The stock has a 50 day moving average of $36.46 and a two-hundred day moving average of $35.94. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. The firm has a market cap of $12.32 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.92 and a beta of 0.80.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.54%. This is a boost from UDR’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, April 9th. UDR’s dividend payout ratio is 125.37%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UDR. Private Advisor Group LLC lifted its stake in UDR by 4.8% during the first quarter. Private Advisor Group LLC now owns 10,150 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 461 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in UDR by 9.7% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,015 shares of the real estate investment trust’s stock worth $2,296,000 after purchasing an additional 3,535 shares in the last quarter. Aviva PLC lifted its stake in UDR by 68.5% during the first quarter. Aviva PLC now owns 72,356 shares of the real estate investment trust’s stock worth $4,151,000 after purchasing an additional 29,403 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in UDR by 0.6% during the first quarter. Allianz Asset Management GmbH now owns 465,509 shares of the real estate investment trust’s stock worth $26,706,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Prudential PLC purchased a new stake in shares of UDR during the first quarter worth $369,000. 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.