UDR (NYSE:UDR) Issues Q2 2024 Earnings Guidance

UDR (NYSE:UDR) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.530-0.550 for the period, compared to the consensus EPS estimate of 0.610. The company issued revenue guidance of -. UDR also updated its FY 2024 guidance to 2.120-2.240 EPS.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial dropped their price target on UDR from $45.00 to $42.00 and set a buy rating on the stock in a research note on Tuesday, April 9th. Barclays cut UDR from an overweight rating to an equal weight rating and reduced their price objective for the stock from $46.00 to $37.00 in a report on Tuesday, February 20th. Mizuho reduced their price objective on UDR from $38.00 to $35.00 and set a neutral rating for the company in a report on Wednesday, February 28th. Wells Fargo & Company upgraded UDR from an equal weight rating to an overweight rating and boosted their price objective for the stock from $34.00 to $39.00 in a report on Monday, March 4th. Finally, Wedbush restated an outperform rating and set a $40.00 price objective on shares of UDR in a report on Monday. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $41.78.

UDR Stock Down 0.5 %

NYSE UDR traded down $0.21 during trading hours on Tuesday, hitting $38.08. The company’s stock had a trading volume of 3,263,255 shares, compared to its average volume of 2,946,120. The company has a current ratio of 5.15, a quick ratio of 5.15 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $12.54 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. UDR has a 52 week low of $30.95 and a 52 week high of $44.02. The company’s 50-day simple moving average is $36.78 and its two-hundred day simple moving average is $35.97.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th will be paid a $0.425 dividend. This is a positive change from UDR’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, April 9th. This represents a $1.70 annualized dividend and a yield of 4.46%. UDR’s dividend payout ratio (DPR) is 126.87%.

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.