UDR (NYSE:UDR) Updates 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.

UDR Stock Down 0.5 %

Shares of NYSE:UDR traded down $0.21 during midday trading on Tuesday, hitting $38.08. 3,263,255 shares of the stock were exchanged, compared to its average volume of 2,946,120. The company has a market capitalization of $12.54 billion, a PE ratio of 28.55, a P/E/G 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 has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The business’s fifty 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 declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This is an increase from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.46%. UDR’s dividend payout ratio (DPR) is 126.87%.

Analyst Ratings Changes

Several brokerages recently weighed in on UDR. Deutsche Bank Aktiengesellschaft began coverage on shares of UDR in a research report on Tuesday, January 30th. They set a hold rating and a $40.00 price objective on the stock. Mizuho cut their price target on shares of UDR from $38.00 to $35.00 and set a neutral rating on the stock in a report on Wednesday, February 28th. Wedbush reiterated an outperform rating and issued a $40.00 price objective on shares of UDR in a report on Monday. Piper Sandler upgraded UDR from an underweight rating to a neutral rating and raised their target price for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Finally, Wells Fargo & Company raised UDR from an equal weight rating to an overweight rating and boosted their price target for the stock from $34.00 to $39.00 in a research report on Monday, March 4th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $41.78.

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.