$258.43 Million in Sales Expected for UDR, Inc. (UDR) This Quarter
Equities analysts expect UDR, Inc. (NYSE:UDR) to report $258.43 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for UDR’s earnings, with the lowest sales estimate coming in at $257.66 million and the highest estimate coming in at $259.26 million. UDR reported sales of $251.09 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The firm is scheduled to announce its next quarterly earnings results on Monday, October 29th.
On average, analysts expect that UDR will report full year sales of $1.02 billion for the current financial year, with estimates ranging from $1.02 billion to $1.03 billion. For the next year, analysts expect that the business will report sales of $1.07 billion, with estimates ranging from $1.04 billion to $1.11 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover UDR.
UDR (NYSE:UDR) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. The business had revenue of $259.74 million during the quarter, compared to the consensus estimate of $253.59 million. UDR had a net margin of 18.47% and a return on equity of 6.87%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS.
Shares of NYSE:UDR traded up $0.42 during trading on Monday, reaching $40.02. The company had a trading volume of 77,433 shares, compared to its average volume of 1,449,352. The firm has a market cap of $10.74 billion, a P/E ratio of 21.34, a P/E/G ratio of 3.39 and a beta of 0.34. UDR has a twelve month low of $32.88 and a twelve month high of $41.04. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be paid a dividend of $0.3323 per share. This is a positive change from UDR’s previous quarterly dividend of $0.32. The ex-dividend date is Tuesday, October 9th. This represents a $1.33 annualized dividend and a dividend yield of 3.32%. UDR’s dividend payout ratio is 68.98%.
In related news, CEO Thomas W. Toomey sold 40,000 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $39.80, for a total value of $1,592,000.00. Following the transaction, the chief executive officer now directly owns 1,768,753 shares in the company, valued at approximately $70,396,369.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jerry A. Davis sold 10,000 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $38.75, for a total transaction of $387,500.00. Following the completion of the transaction, the insider now owns 234,669 shares in the company, valued at $9,093,423.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,773 shares of company stock worth $4,140,829. 3.16% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in UDR by 3.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 86,849 shares of the real estate investment trust’s stock valued at $3,260,000 after purchasing an additional 2,566 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of UDR by 8.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 765,566 shares of the real estate investment trust’s stock worth $28,739,000 after acquiring an additional 62,000 shares during the period. Redpoint Investment Management Pty Ltd lifted its holdings in shares of UDR by 66.8% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 11,598 shares of the real estate investment trust’s stock worth $435,000 after acquiring an additional 4,646 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of UDR by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 8,358,300 shares of the real estate investment trust’s stock worth $313,771,000 after acquiring an additional 390,700 shares during the period. Finally, Ferguson Wellman Capital Management Inc. bought a new position in shares of UDR during the 2nd quarter worth about $374,000. Institutional investors and hedge funds own 95.23% of the company’s stock.
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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