UDR (NYSE:UDR) Releases Q2 Earnings Guidance

UDR (NYSE:UDRGet 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:UDRGet 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.

See Also

Earnings History and Estimates for UDR (NYSE:UDR)

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