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 Q2 guidance to $0.60-$0.62 EPS.

UDR Stock Down 0.5 %

UDR stock traded down $0.21 during mid-day trading on Tuesday, reaching $38.08. The company’s stock had a trading volume of 3,263,255 shares, compared to its average volume of 2,945,900. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. The business’s 50 day simple moving average is $36.78 and its 200 day simple moving average is $35.97. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. UDR has a 12 month low of $30.95 and a 12 month high of $44.02.

UDR Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler raised UDR from an underweight rating to a neutral rating and boosted their target price for the stock from $34.00 to $40.00 in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of UDR in a report on Tuesday, January 30th. They issued a hold rating and a $40.00 target price on the stock. Barclays downgraded UDR from an overweight rating to an equal weight rating and lowered their target price for the stock from $46.00 to $37.00 in a research note on Tuesday, February 20th. Wedbush reiterated an outperform rating and issued a $40.00 price target on shares of UDR in a research note on Monday. Finally, Morgan Stanley reaffirmed an equal weight rating and set a $37.00 price target on shares of UDR in a research note on Monday, February 26th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average 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.