UDR (NYSE:UDR) Releases FY24 Earnings Guidance

UDR (NYSE:UDR) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.38-$2.50 for the period, compared to the consensus estimate of $2.44. UDR also updated its FY 2024 guidance to 2.120-2.240 EPS.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UDR. Mizuho reduced their price target on shares of UDR from $38.00 to $35.00 and set a neutral rating for the company in a report on Wednesday, February 28th. Barclays downgraded shares of UDR from an overweight rating to an equal weight rating and reduced their price target for the company from $46.00 to $37.00 in a report on Tuesday, February 20th. Truist Financial reduced their price target on shares of UDR from $45.00 to $42.00 and set a buy rating for the company in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on shares of UDR in a report on Tuesday, January 30th. They issued a hold rating and a $40.00 price target for the company. Finally, UBS Group raised shares of UDR from a neutral rating to a buy rating and increased their price target for the company from $38.00 to $44.00 in a report on Thursday, April 25th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $41.78.

UDR Price Performance

Shares of UDR stock traded down $0.21 during mid-day trading on Tuesday, reaching $38.08. 3,263,255 shares of the stock 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 company has a market cap of $12.54 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 3.03 and a beta of 0.80. UDR has a fifty-two week low of $30.95 and a fifty-two week high of $44.02. The firm has a 50-day simple moving average of $36.82 and a 200 day simple moving average of $35.98.

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 $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Tuesday, April 9th. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio (DPR) is presently 126.87%.

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.