UDR (NYSE:UDR) Updates FY24 Earnings Guidance

UDR (NYSE:UDR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.38-$2.50 for the period, compared to the consensus earnings per share estimate of $2.44. UDR also updated its FY 2024 guidance to 2.120-2.240 EPS.

Analysts Set New Price Targets

Several brokerages have weighed in on UDR. Mizuho lowered their price objective on UDR from $38.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Barclays downgraded UDR from an overweight rating to an equal weight rating and decreased their target price for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. The Goldman Sachs Group assumed coverage on UDR in a report on Thursday, February 22nd. They set a neutral rating and a $39.00 target price for the company. Wells Fargo & Company upgraded UDR from an equal weight rating to an overweight rating and upped their target price for the company from $34.00 to $39.00 in a report on Monday, March 4th. Finally, Piper Sandler upgraded UDR from an underweight rating to a neutral rating and upped their target price for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $41.78.

UDR Price Performance

UDR traded down $0.21 on Tuesday, hitting $38.08. 3,263,255 shares of the company’s stock traded hands, compared to its average volume of 2,946,120. UDR has a one year low of $30.95 and a one year high of $44.02. 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 firm has a market cap of $12.54 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 3.03 and a beta of 0.80. The company’s 50 day simple moving average is $36.82 and its 200-day simple moving average is $35.98.

UDR Increases Dividend

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

UDR Company Profile

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.