UDR (NYSE:UDR) Updates FY 2024 Earnings Guidance

UDR (NYSE:UDR) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.470-2.490 for the period, compared to the consensus earnings per share estimate of 2.480. The company issued revenue guidance of -. UDR also updated its Q4 guidance to $0.56-0.58 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on UDR. Wells Fargo & Company raised their price target on shares of UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of UDR from $40.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. BNP Paribas began coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of UDR from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 1st. Finally, UBS Group lifted their target price on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.28.

UDR Trading Down 0.2 %

Shares of UDR stock traded down $0.09 on Wednesday, hitting $43.52. 3,137,748 shares of the stock traded hands, compared to its average volume of 2,496,888. The firm’s 50-day moving average price is $44.70 and its two-hundred day moving average price is $41.53. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. The stock has a market capitalization of $14.35 billion, a PE ratio of 106.37, a PEG ratio of 9.62 and a beta of 0.85. UDR has a twelve month low of $30.95 and a twelve month high of $47.55.

UDR (NYSE:UDR) last issued its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.53). The company had revenue of $415.30 million during the quarter, compared to analysts’ expectations of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. As a group, analysts anticipate that UDR will post 2.47 EPS for the current year.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.70 dividend on an annualized basis and a yield of 3.91%. UDR’s dividend payout ratio (DPR) is presently 414.64%.

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.