UDR (NYSE:UDR – Get Free Report) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.60-$0.62 for the period, compared to the consensus EPS estimate of $0.61. UDR also updated its FY 2024 guidance to 2.120-2.240 EPS.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of UDR from an equal weight rating to an overweight rating and raised their price target for the stock from $34.00 to $39.00 in a report on Monday, March 4th. Morgan Stanley reiterated an equal weight rating and issued a $37.00 price objective on shares of UDR in a research note on Monday, February 26th. Piper Sandler upgraded shares of UDR from an underweight rating to a neutral rating and lifted their price objective for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Mizuho lowered their price objective on shares of UDR from $38.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Finally, Scotiabank lowered shares of UDR from a sector outperform rating to a sector perform rating and set a $39.00 price objective for the company. in a research note on Wednesday. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $41.44.
Check Out Our Latest Research Report on UDR
UDR Stock Performance
UDR Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th were paid a $0.425 dividend. 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 4.52%. The ex-dividend date of this dividend was Tuesday, April 9th. UDR’s payout ratio is currently 123.19%.
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.
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