J.P. Morgan Reiterates a Buy Rating on UDR

By Ryan Adsit

In a report issued on November 11, Anthony Paolone from J.P. Morgan reiterated a Buy rating on UDR (NYSE: UDR), with a price target of $40. The company’s shares closed yesterday at $33.77.

According to TipRanks.com, Paolone is a 5-star analyst with an average return of 8.8% and a 67.8% success rate. Paolone covers the Financial sector, focusing on stocks such as Jones Lang Lasalle Inc., Office Properties Trust, and Apartment Inv. & Mgmt.

UDR has an analyst consensus of Strong Buy, with a price target consensus of $39.

Based on UDR’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $242 million and quarterly net profit of $26.96 million. In comparison, last year the company earned revenue of $221 million and had a net profit of $13.29 million.

Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Warren Troupe, the Senior Exec VP of UDR sold 15,000 shares for a total of $550,500.

UDR, Inc. engages in the multi-family real estate investment trust business. It operates through the Same-Store Communities and Non-Mature Communities/Other segments. The Same-Store Communities segment pertains to properties that are acquired, developed, and stabilized occupancy. The Non-Mature Communities/Other segment includes properties for sale, for redevelopment, and mixed-use. The company was founded in 1972 and is headquartered in Highlands Ranch, CO.