UDR (NYSE:UDR) Updates FY 2024 Earnings Guidance

UDR (NYSE:UDR) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.470-2.490 for the period, compared to the consensus estimate of 2.480. The company issued revenue guidance of -. UDR also updated its Q4 guidance to $0.56-0.58 EPS.

Analysts Set New Price Targets

Several research firms have commented on UDR. BNP Paribas started coverage on shares of UDR in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $49.00 target price for the company. Wells Fargo & Company raised their price target on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. BMO Capital Markets raised shares of UDR from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $39.00 to $45.00 in a research report on Monday, July 15th. Finally, Truist Financial increased their target price on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $44.94.

UDR Price Performance

UDR traded down $0.89 on Friday, reaching $41.30. The company had a trading volume of 2,704,580 shares, compared to its average volume of 1,773,546. UDR has a one year low of $31.75 and a one year high of $47.55. The company has a market capitalization of $13.62 billion, a P/E ratio of 111.62, a PEG ratio of 9.21 and a beta of 0.85. The company has a fifty day moving average of $44.68 and a 200-day moving average of $41.58. The company has a current ratio of 1.46, a quick ratio of 5.82 and a debt-to-equity ratio of 1.69.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.53). UDR had a return on equity of 3.57% and a net margin of 7.68%. The firm had revenue of $415.30 million for the quarter, compared to the consensus estimate of $413.75 million. During the same period in the previous year, the firm earned $0.61 EPS. UDR’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that UDR will post 2.48 earnings per share for the current year.

UDR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s dividend payout ratio is presently 459.47%.

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.