UDR (NYSE:UDR) Updates Q2 2024 Earnings Guidance

UDR (NYSE:UDR) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.530-0.550 for the period, compared to the consensus earnings per share estimate of 0.610. The company issued revenue guidance of -. UDR also updated its FY 2024 guidance to 2.120-2.240 EPS.

UDR Price Performance

NYSE:UDR traded down $0.21 during trading hours on Tuesday, reaching $38.08. 3,263,255 shares of the company were exchanged, compared to its average volume of 2,946,120. 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 stock’s 50-day moving average is $36.78 and its 200-day moving average is $35.97. The firm has a market cap of $12.54 billion, a PE ratio of 28.55, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. UDR has a twelve month low of $30.95 and a twelve month high of $44.02.

UDR Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on UDR shares. Deutsche Bank Aktiengesellschaft started coverage on shares of UDR in a research report on Tuesday, January 30th. They set a hold rating and a $40.00 price objective for the company. Barclays cut shares of UDR from an overweight rating to an equal weight rating and reduced their price objective for the stock from $46.00 to $37.00 in a research report on Tuesday, February 20th. Mizuho reduced their target price on shares of UDR from $38.00 to $35.00 and set a neutral rating for the company in a research report on Wednesday, February 28th. Piper Sandler upgraded shares of UDR from an underweight rating to a neutral rating and increased their target price for the company from $34.00 to $40.00 in a research report on Wednesday, April 10th. Finally, Morgan Stanley reiterated an equal weight rating and issued a $37.00 target price on shares of UDR in a research report on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $41.78.

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.