UDR (NYSE:UDR) Updates FY 2024 Earnings Guidance

UDR (NYSE:UDR) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.120-2.240 for the period, compared to the consensus earnings per share estimate of 2.440. The company issued revenue guidance of -. UDR also updated its FY24 guidance to $2.38-$2.50 EPS.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of UDR in a research note on Thursday, February 22nd. They set a neutral rating and a $39.00 target price for the company. Mizuho reduced their price objective on UDR from $38.00 to $35.00 and set a neutral rating for the company in a research note on Wednesday, February 28th. Wedbush restated an outperform rating and issued a $40.00 price objective on shares of UDR in a research note on Monday. Piper Sandler upgraded UDR from an underweight rating to a neutral rating and upped their price objective for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Finally, Morgan Stanley restated an equal weight rating and issued a $37.00 price objective 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 stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $41.78.

UDR Price Performance

Shares of UDR traded down $0.21 during midday trading on Tuesday, hitting $38.08. 3,263,255 shares of the company traded hands, compared to its average volume of 2,946,120. The stock has a market cap of $12.54 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.03 and a beta of 0.80. The firm has a 50 day moving average of $36.82 and a 200-day moving average of $35.98. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.15 and a current ratio of 5.15. UDR has a 52 week low of $30.95 and a 52 week high of $44.02.

UDR Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.425 per share. This is a positive change from UDR’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.46%. 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.