UDR (NYSE:UDR) Releases Q2 Earnings Guidance

UDR (NYSE:UDR – Get Rating) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.55-$0.57 for the period, compared to the Thomson Reuters consensus estimate of $0.56. UDR also updated its FY 2022 guidance to $2.050-$2.110 EPS.

Shares of UDR stock traded down $0.98 during trading hours on Tuesday, reaching $56.82. The company’s stock had a trading volume of 1,684,346 shares, compared to its average volume of 1,696,891. The stock has a market capitalization of $18.09 billion, a P/E ratio of 118.38, a P/E/G ratio of 3.13 and a beta of 0.76. UDR has a one year low of $44.68 and a one year high of $61.06. The firm’s fifty day simple moving average is $57.01 and its 200 day simple moving average is $56.87. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.58.

UDR (NYSE:UDR – Get Rating) last issued its quarterly earnings data on Tuesday, February 8th. The real estate investment trust reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.17). The business had revenue of $347.02 million during the quarter, compared to the consensus estimate of $338.63 million. UDR had a return on equity of 4.50% and a net margin of 11.62%. UDR’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.49 earnings per share. As a group, equities research analysts forecast that UDR will post 2.28 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Stockholders of record on Monday, April 11th will be given a $0.38 dividend. This is a positive change from UDR’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, April 8th. UDR’s dividend payout ratio (DPR) is currently 316.67%.

A number of research firms have recently commented on UDR. JPMorgan Chase & Co. raised their target price on UDR from $61.00 to $63.00 in a research note on Tuesday, January 18th. StockNews.com began coverage on UDR in a research note on Thursday, March 31st. They issued a hold rating for the company. KeyCorp raised their target price on UDR from $61.00 to $63.00 and gave the company an overweight rating in a research note on Thursday, January 13th. Mizuho lowered their target price on UDR from $61.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, February 16th. Finally, Wolfe Research upgraded UDR from a peer perform rating to an outperform rating in a research note on Tuesday, March 15th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average price target of $60.04.

Institutional investors have recently added to or reduced their stakes in the business. Toroso Investments LLC bought a new position in shares of UDR during the fourth quarter valued at $207,000. Colony Group LLC bought a new position in shares of UDR during the fourth quarter valued at $340,000. Cetera Investment Advisers lifted its holdings in shares of UDR by 30.7% during the fourth quarter. Cetera Investment Advisers now owns 6,311 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 1,484 shares in the last quarter. Virtu Financial LLC bought a new position in shares of UDR during the fourth quarter valued at $489,000. Finally, NewEdge Advisors LLC bought a new position in shares of UDR during the fourth quarter valued at $603,000. 96.39% of the stock is currently owned by institutional investors and hedge funds.

About UDR (Get Rating)

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.

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