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

UDR (NYSE:UDR - Free Report) had its price target decreased by Scotiabank from $49.00 to $48.00 in a research report released on Thursday,Benzinga reports. Scotiabank currently has a sector perform rating on the real estate investment trust's stock.

UDR has been the topic of several other reports. Truist Financial raised their target price on shares of UDR from $44.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, August 26th. Wedbush boosted their price objective 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. Wells Fargo & Company boosted 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. UBS Group increased their price objective on UDR from $48.00 to $52.00 and gave the stock a "buy" rating in a report on Thursday, September 12th. Finally, BNP Paribas started coverage on UDR in a research note on Wednesday, September 11th. They issued an "outperform" rating and a $49.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $45.18.

UDR Price Performance

UDR stock traded down $0.64 on Thursday, reaching $44.55. The company's stock had a trading volume of 2,036,005 shares, compared to its average volume of 2,508,438. UDR has a twelve month low of $32.37 and a twelve month high of $47.55. The business's fifty day moving average price is $44.62 and its 200 day moving average price is $42.01. The company has a market cap of $14.70 billion, a price-to-earnings ratio of 121.00, a PEG ratio of 12.29 and a beta of 0.85. The company has a debt-to-equity ratio of 1.69, a quick ratio of 5.91 and a current ratio of 5.91.

UDR Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a $0.425 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.82%. UDR's dividend payout ratio is currently 459.47%.

Institutional Trading of UDR

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of UDR by 370.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 222,940 shares of the real estate investment trust's stock worth $8,340,000 after buying an additional 175,566 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of UDR by 5.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 375,172 shares of the real estate investment trust's stock valued at $15,405,000 after buying an additional 18,570 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in UDR by 22.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 597,502 shares of the real estate investment trust's stock worth $22,353,000 after buying an additional 111,334 shares in the last quarter. Centersquare Investment Management LLC boosted its position in UDR by 17.7% during 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 acquiring an additional 1,433,463 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of UDR in the 1st quarter worth approximately $213,000. 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.