Wedbush Analysts Boost Earnings Estimates for UDR, Inc. (NYSE:UDR)

UDR, Inc. (NYSE:UDR) – Research analysts at Wedbush boosted their FY2024 earnings per share estimates for shares of UDR in a report issued on Monday, May 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $2.46 for the year, up from their previous forecast of $2.45. Wedbush currently has a “Outperform” rating and a $45.00 target price on the stock. The consensus estimate for UDR’s current full-year earnings is $2.44 per share.

UDR has been the subject of a number of other reports. Barclays downgraded shares of UDR from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $46.00 to $37.00 in a research report on Tuesday, February 20th. Piper Sandler raised UDR from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $34.00 to $40.00 in a report on Wednesday, April 10th. UBS Group upgraded UDR from a “neutral” rating to a “buy” rating and boosted their target price for the company from $38.00 to $44.00 in a research note on Thursday, April 25th. Morgan Stanley reiterated an “equal weight” rating and set a $37.00 price target on shares of UDR in a research note on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a report on Tuesday, January 30th. They issued a “hold” rating and a $40.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $41.72.

UDR Price Performance

UDR opened at $38.27 on Wednesday. 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 moving average of $37.13 and a 200 day moving average of $36.09. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61. The firm has a market cap of $12.60 billion, a P/E ratio of 27.73, a PEG ratio of 3.06 and a beta of 0.79.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Principal Securities Inc. bought a new position in UDR in the 4th quarter worth about $26,000. Fidelis Capital Partners LLC purchased a new stake in UDR in the first quarter valued at approximately $26,000. Quest Partners LLC bought a new stake in UDR during the fourth quarter valued at approximately $27,000. Parkside Financial Bank & Trust grew its stake in UDR by 225.7% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,088 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 754 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of UDR by 87.3% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,435 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 669 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

UDR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Wednesday, April 10th were given a dividend of $0.425 per share. This is a positive change from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Tuesday, April 9th. UDR’s payout ratio is 123.19%.

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.