Mizuho Lowers UDR (NYSE:UDR) to Neutral

Mizuho cut shares of UDR (NYSE:UDR) from a buy rating to a neutral rating in a research report released on Thursday, The Fly reports. The brokerage currently has $50.00 price target on the real estate investment trust’s stock, down from their previous price target of $52.00.

UDR has been the topic of a number of other reports. Capital One Financial raised UDR from an equal weight rating to an overweight rating and lifted their price target for the stock from $45.00 to $50.00 in a research note on Monday, September 16th. TheStreet raised UDR from a c rating to a b- rating in a report on Tuesday, July 30th. Morgan Stanley lifted their price target on UDR from $48.00 to $51.00 and gave the company an equal weight rating in a report on Friday, September 6th. Barclays set a $52.00 target price on UDR and gave the stock a hold rating in a report on Friday, October 11th. Finally, Robert W. Baird upgraded shares of UDR from a neutral rating to an outperform rating and lifted their price target for the stock from $48.00 to $51.00 in a research report on Monday, October 14th. Ten equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. UDR currently has a consensus rating of Hold and an average price target of $49.25.

Shares of UDR traded down $0.12 during midday trading on Thursday, reaching $47.37. 932,435 shares of the stock were exchanged, compared to its average volume of 1,484,016. UDR has a 52 week low of $38.14 and a 52 week high of $50.61. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 1.22. The company’s 50 day moving average is $48.84 and its two-hundred day moving average is $46.74. The company has a market capitalization of $14.21 billion, a P/E ratio of 24.17, a PEG ratio of 3.79 and a beta of 0.41.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.43). UDR had a return on equity of 5.51% and a net margin of 15.20%. The firm had revenue of $295.40 million for the quarter, compared to the consensus estimate of $285.45 million. During the same period in the previous year, the company posted $0.07 EPS. UDR’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, sell-side analysts expect that UDR will post 2.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.3425 per share. This represents a $1.37 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Wednesday, October 9th. UDR’s payout ratio is 69.90%.

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In other UDR news, VP Warren L. Troupe sold 20,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $48.58, for a total transaction of $971,600.00. Following the sale, the vice president now directly owns 470,761 shares of the company’s stock, valued at $22,869,569.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas W. Toomey sold 40,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $48.61, for a total transaction of $1,944,400.00. Following the sale, the chief executive officer now directly owns 1,642,826 shares in the company, valued at $79,857,771.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,100 shares of company stock worth $4,034,713. Corporate insiders own 2.85% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP acquired a new stake in shares of UDR during the 1st quarter worth about $157,000. Amundi Pioneer Asset Management Inc. grew its holdings in UDR by 36.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 383,735 shares of the real estate investment trust’s stock worth $17,445,000 after acquiring an additional 102,266 shares during the last quarter. Retirement Systems of Alabama grew its holdings in UDR by 2.4% during the 2nd quarter. Retirement Systems of Alabama now owns 131,395 shares of the real estate investment trust’s stock worth $5,898,000 after acquiring an additional 3,058 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in UDR by 10.6% during the 2nd quarter. DAVENPORT & Co LLC now owns 31,895 shares of the real estate investment trust’s stock worth $1,432,000 after acquiring an additional 3,050 shares during the last quarter. Finally, Hexavest Inc. grew its holdings in UDR by 5.0% during the 2nd quarter. Hexavest Inc. now owns 860,135 shares of the real estate investment trust’s stock worth $38,611,000 after acquiring an additional 40,664 shares during the last quarter. Institutional investors own 93.15% 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 properties in targeted U.S.

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