UDR (NYSE:UDR) Issues Q2 Earnings Guidance

UDR (NYSE:UDR) issued an update on its second quarter earnings guidance on Tuesday morning. 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 FY24 guidance to $2.38-$2.50 EPS.

UDR Stock Performance

NYSE:UDR traded down $0.21 on Tuesday, hitting $38.08. The stock had a trading volume of 3,263,255 shares, compared to its average volume of 2,945,900. UDR has a 52-week low of $30.95 and a 52-week high of $44.02. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. The company has a quick ratio of 5.15, a current ratio of 5.15 and a debt-to-equity ratio of 1.47. The business’s 50-day simple moving average is $36.78 and its two-hundred day simple moving average is $35.97.

UDR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.425 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a yield of 4.46%. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s payout ratio is presently 126.87%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on UDR. UBS Group upgraded UDR from a neutral rating to a buy rating and upped their price objective for the stock from $38.00 to $44.00 in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of UDR in a research note on Tuesday, January 30th. They set a hold rating and a $40.00 price objective on the stock. Barclays lowered UDR from an overweight rating to an equal weight rating and dropped their price objective for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. Morgan Stanley reaffirmed an equal weight rating and set a $37.00 target price on shares of UDR in a report on Monday, February 26th. Finally, The Goldman Sachs Group began coverage on shares of UDR in a research note on Thursday, February 22nd. They issued a neutral rating and a $39.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target 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.