UDR, Inc. (UDR) to Issue Quarterly Dividend of $0.43 on April 30th

UDR, Inc. (NYSE:UDR) declared a quarterly dividend on Thursday, March 13th, RTT News reports. Shareholders of record on Thursday, April 10th will be paid a dividend of 0.43 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.72 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, April 10th. This is a 1.2% increase from UDR’s previous quarterly dividend of $0.43.

UDR has increased its dividend by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. UDR has a dividend payout ratio of 269.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect UDR to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 65.1%.

UDR Stock Performance

UDR stock opened at $43.27 on Friday. UDR has a 1-year low of $35.14 and a 1-year high of $47.55. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $14.33 billion, a PE ratio of 173.10, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. The firm’s 50 day simple moving average is $42.49 and its 200 day simple moving average is $43.80.

UDR (NYSE:UDR) last announced its quarterly earnings data on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. As a group, analysts expect that UDR will post 2.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on UDR shares. Zelman & Associates restated a “neutral” rating on shares of UDR in a report on Thursday, February 13th. Jefferies Financial Group cut UDR from a “buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $45.00 in a report on Thursday, January 2nd. Truist Financial downgraded UDR from a “buy” rating to a “hold” rating and increased their price target for the stock from $45.00 to $46.00 in a research report on Monday, March 10th. Royal Bank of Canada upped their price target on shares of UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Finally, Wells Fargo & Company reduced their price objective on UDR from $48.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, UDR currently has an average rating of “Hold” and an average target price of $46.12.

Insider Buying and Selling

In other news, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value of $1,068,750.00. Following the transaction, the chief executive officer now directly owns 824,716 shares of the company’s stock, valued at $35,256,609. The trade was a 2.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.73% of the company’s stock.

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.