Zacks: Analysts Anticipate UDR, Inc. (NYSE:UDR) Will Announce Quarterly Sales of $318.10 Million

Analysts expect UDR, Inc. (NYSE:UDR) to report $318.10 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for UDR’s earnings, with estimates ranging from $309.21 million to $328.60 million. UDR reported sales of $310.04 million during the same quarter last year, which indicates a positive year over year growth rate of 2.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that UDR will report full year sales of $1.25 billion for the current year, with estimates ranging from $1.21 billion to $1.27 billion. For the next year, analysts forecast that the company will post sales of $1.33 billion, with estimates ranging from $1.25 billion to $1.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover UDR.

UDR (NYSE:UDR) last issued its quarterly earnings data on Wednesday, July 28th. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.45). UDR had a return on equity of 1.40% and a net margin of 1.31%.

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of UDR in a research report on Thursday. They issued a “buy” rating and a $60.00 target price for the company. Truist raised their target price on shares of UDR from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Wednesday, August 18th. They noted that the move was a valuation call. Truist Securities raised their target price on shares of UDR from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Wednesday, August 18th. BTIG Research raised shares of UDR from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, September 13th. Finally, Barclays began coverage on shares of UDR in a research report on Wednesday, September 1st. They issued an “overweight” rating and a $60.00 target price for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, UDR has a consensus rating of “Buy” and a consensus price target of $51.76.

In other UDR news, CEO Thomas W. Toomey sold 60,000 shares of UDR stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $55.71, for a total value of $3,342,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Jerry A. Davis sold 10,000 shares of UDR stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $54.33, for a total transaction of $543,300.00. Following the completion of the sale, the president now owns 119,887 shares of the company’s stock, valued at approximately $6,513,460.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 130,000 shares of company stock valued at $7,186,450. 2.69% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Duality Advisers LP increased its holdings in UDR by 60.4% in the 1st quarter. Duality Advisers LP now owns 132,229 shares of the real estate investment trust’s stock valued at $5,800,000 after buying an additional 49,797 shares during the period. Panagora Asset Management Inc. increased its holdings in UDR by 13.3% in the 1st quarter. Panagora Asset Management Inc. now owns 34,238 shares of the real estate investment trust’s stock valued at $1,502,000 after buying an additional 4,014 shares during the period. Fifth Third Bancorp increased its holdings in UDR by 8.6% in the 2nd quarter. Fifth Third Bancorp now owns 24,352 shares of the real estate investment trust’s stock valued at $1,193,000 after buying an additional 1,919 shares during the period. Eaton Vance Management bought a new position in UDR in the 1st quarter valued at about $180,000. Finally, State of Michigan Retirement System increased its holdings in UDR by 0.3% in the 2nd quarter. State of Michigan Retirement System now owns 74,652 shares of the real estate investment trust’s stock valued at $3,656,000 after buying an additional 200 shares during the period.

UDR stock traded down $0.43 during mid-day trading on Friday, reaching $53.55. The company’s stock had a trading volume of 1,603,972 shares, compared to its average volume of 1,908,351. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 1,071.21, a price-to-earnings-growth ratio of 5.90 and a beta of 0.75. UDR has a 12 month low of $29.34 and a 12 month high of $56.31. The business’s 50 day simple moving average is $53.92 and its 200 day simple moving average is $49.43. The company has a debt-to-equity ratio of 1.98, a quick ratio of 4.03 and a current ratio of 4.03.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Stockholders of record on Monday, October 11th will be paid a dividend of $0.3625 per share. This represents a $1.45 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, October 7th. UDR’s dividend payout ratio is presently 71.08%.

UDR Company Profile

UDR, Inc is a real estate investment trust, which owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities. It engages in the multi-family real estate investment trust business. It operates through the Same-Store Communities and Non-Mature Communities/Other segments.

See Also: Basic Economics creates winners and losers

Get a free copy of the Zacks research report on UDR (UDR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for UDR (NYSE:UDR)

Receive News & Ratings for UDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR and related companies with MarketBeat.com's FREE daily email newsletter.