Fintel reports that on October 3, 2023, Wedbush initiated coverage of UDR (NYSE:UDR) with a Outperform recommendation.
Analyst Price Forecast Suggests 32.47% Upside
As of August 31, 2023, the average one-year price target for UDR is 46.55. The forecasts range from a low of 43.43 to a high of $51.45. The average price target represents an increase of 32.47% from its latest reported closing price of 35.14.
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The projected annual revenue for UDR is 1,657MM, an increase of 1.96%. The projected annual non-GAAP EPS is 0.54.
What is the Fund Sentiment?
There are 1072 funds or institutions reporting positions in UDR. This is an increase of 16 owner(s) or 1.52% in the last quarter. Average portfolio weight of all funds dedicated to UDR is 0.37%, a decrease of 5.56%. Total shares owned by institutions decreased in the last three months by 1.43% to 344,577K shares. 
The put/call ratio of UDR is 3.09, indicating a bearish outlook.
What are Other Shareholders Doing?
Cohen & Steers holds 28,620K shares representing 8.69% ownership of the company. In it's prior filing, the firm reported owning 34,190K shares, representing a decrease of 19.46%. The firm decreased its portfolio allocation in UDR by 14.59% over the last quarter.
VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 13,178K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 14,307K shares, representing a decrease of 8.57%. The firm decreased its portfolio allocation in UDR by 10.85% over the last quarter.
Jpmorgan Chase holds 12,888K shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 13,691K shares, representing a decrease of 6.23%. The firm increased its portfolio allocation in UDR by 599.66% over the last quarter.
Invesco holds 11,389K shares representing 3.46% ownership of the company. In it's prior filing, the firm reported owning 12,831K shares, representing a decrease of 12.66%. The firm increased its portfolio allocation in UDR by 842.88% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,265K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 10,182K shares, representing an increase of 0.81%. The firm decreased its portfolio allocation in UDR by 2.68% over the last quarter.
UDR Background Information
(This description is provided by the company.)
UDR, Inc., 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. markets. As of September 30, 2020, UDR owned or had an ownership position in 51,649 apartment homes including 1,031 homes under development. For over 48 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates.
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