UDR (NYSE:UDR) Releases Q2 Earnings Guidance

UDR (NYSE:UDR) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.60-$0.62 for the period, compared to the consensus estimate of $0.61. UDR also updated its FY 2024 guidance to 2.120-2.240 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Mizuho reduced their price objective on shares of UDR from $38.00 to $35.00 and set a neutral rating for the company in a report on Wednesday, February 28th. Morgan Stanley reaffirmed an equal weight rating and issued a $37.00 target price on shares of UDR in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UDR in a research note on Tuesday, January 30th. They issued a hold rating and a $40.00 target price for the company. Wells Fargo & Company raised shares of UDR from an equal weight rating to an overweight rating and boosted their target price for the stock from $34.00 to $39.00 in a research note on Monday, March 4th. Finally, Piper Sandler raised shares of UDR from an underweight rating to a neutral rating and boosted their price target for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, UDR has an average rating of Hold and an average target price of $41.44.

UDR Trading Up 0.2 %

NYSE UDR traded up $0.08 during trading on Thursday, reaching $37.57. 5,231,258 shares of the stock traded hands, compared to its average volume of 2,999,571. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 27.22, a price-to-earnings-growth ratio of 3.05 and a beta of 0.78. The stock’s 50-day moving average price is $36.85 and its 200 day moving average price is $35.99. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. UDR has a fifty-two week low of $30.95 and a fifty-two week high of $44.02.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were issued a dividend of $0.425 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a yield of 4.52%. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s payout ratio is currently 123.19%.

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 communities in targeted U.S.