UDR, Inc. to Post Q2 2024 Earnings of $0.62 Per Share, Wedbush Forecasts (NYSE:UDR)

UDR, Inc. (NYSE:UDR) – Research analysts at Wedbush raised their Q2 2024 earnings estimates for shares of UDR in a research note issued to investors on Monday, May 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $0.62 per share for the quarter, up from their previous estimate of $0.61. Wedbush has a “Outperform” rating and a $45.00 price target on the stock. The consensus estimate for UDR’s current full-year earnings is $2.44 per share. Wedbush also issued estimates for UDR’s Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.63 EPS and FY2025 earnings at $2.57 EPS.

A number of other research analysts also recently issued reports on UDR. UBS Group upgraded shares of 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 report on Thursday, April 25th. Piper Sandler upgraded UDR from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. Truist Financial dropped their target price on UDR from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, April 9th. Wells Fargo & Company raised UDR from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $34.00 to $39.00 in a report on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of UDR in a report on Tuesday, January 30th. They set a “hold” rating and a $40.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $41.72.

UDR Stock Down 1.8 %

UDR stock opened at $38.27 on Tuesday. The company has a market capitalization of $12.60 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 3.06 and a beta of 0.79. UDR has a 12 month low of $30.95 and a 12 month high of $44.02. The firm’s fifty day simple moving average is $37.13 and its 200-day simple moving average is $36.09. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.61 and a quick ratio of 6.61.

Hedge Funds Weigh In On UDR

Institutional investors have recently bought and sold shares of the company. Forsta AP Fonden raised its position in shares of UDR by 10.4% during the 3rd quarter. Forsta AP Fonden now owns 63,600 shares of the real estate investment trust’s stock valued at $2,269,000 after buying an additional 6,000 shares during the period. New York State Teachers Retirement System raised its position in UDR by 0.3% in the third quarter. New York State Teachers Retirement System now owns 316,725 shares of the real estate investment trust’s stock valued at $11,298,000 after purchasing an additional 1,012 shares during the period. Mackenzie Financial Corp lifted its stake in shares of UDR by 1.8% in the 3rd quarter. Mackenzie Financial Corp now owns 30,386 shares of the real estate investment trust’s stock valued at $1,058,000 after purchasing an additional 550 shares during the last quarter. Strs Ohio grew its holdings in shares of UDR by 23.3% during the 3rd quarter. Strs Ohio now owns 477,293 shares of the real estate investment trust’s stock worth $17,025,000 after purchasing an additional 90,200 shares during the period. Finally, IFM Investors Pty Ltd grew its holdings in shares of UDR by 2.7% during the 3rd quarter. IFM Investors Pty Ltd now owns 65,419 shares of the real estate investment trust’s stock worth $2,333,000 after purchasing an additional 1,738 shares during the period. 97.84% of the stock is owned by hedge funds and other institutional investors.

UDR Increases Dividend

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

UDR Company Profile

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.