UDR (NYSE:UDR) Releases Q4 Earnings Guidance

UDR (NYSE:UDR) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.56-0.58 for the period, compared to the consensus earnings per share estimate of $0.63.

UDR Stock Performance

NYSE UDR traded down $0.06 during trading hours on Wednesday, hitting $43.55. The company had a trading volume of 3,137,710 shares, compared to its average volume of 2,496,888. The business has a 50 day moving average of $44.70 and a 200-day moving average of $41.53. The company has a market cap of $14.36 billion, a PE ratio of 106.37, a price-to-earnings-growth ratio of 9.62 and a beta of 0.85. UDR has a 1-year low of $30.95 and a 1-year high of $47.55. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The firm had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, equities research analysts expect that UDR will post 2.47 EPS for the current year.

UDR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given 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 dividend yield of 3.90%. UDR’s dividend payout ratio (DPR) is presently 414.64%.

Analysts Set New Price Targets

UDR has been the topic of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of UDR in a research note on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective on the stock. Piper Sandler increased their price objective on UDR from $40.00 to $46.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Evercore ISI boosted their target price on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a report on Monday, September 9th. BMO Capital Markets raised UDR from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $39.00 to $45.00 in a report on Monday, July 15th. Finally, BNP Paribas initiated coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 price objective on the stock. One investment 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 company presently has a consensus rating of “Hold” and a consensus target price of $44.28.

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.