UDR (NYSE:UDR) Updates FY 2024 Earnings Guidance

UDR (NYSE:UDR) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.470-2.490 for the period, compared to the consensus EPS estimate of 2.480. The company issued revenue guidance of -. UDR also updated its Q4 guidance to $0.56-0.58 EPS.

UDR Price Performance

Shares of UDR stock traded down $0.87 on Thursday, reaching $42.68. 1,396,351 shares of the company were exchanged, compared to its average volume of 2,491,672. The company has a market cap of $14.08 billion, a price-to-earnings ratio of 106.22, a P/E/G ratio of 9.62 and a beta of 0.85. UDR has a 1 year low of $30.95 and a 1 year high of $47.55. The business has a 50-day moving average price of $44.73 and a 200 day moving average price of $41.54. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82.

UDR (NYSE:UDR) last announced its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). UDR had a net margin of 8.34% and a return on equity of 3.70%. The business had revenue of $415.30 million during the quarter, compared to analyst estimates of $413.75 million. During the same period in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that UDR will post 2.47 earnings per share for the current fiscal year.

UDR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.70 dividend on an annualized basis and a yield of 3.98%. UDR’s dividend payout ratio (DPR) is presently 414.63%.

Analyst Ratings Changes

A number of analysts recently weighed in on UDR shares. BNP Paribas assumed coverage on shares of UDR in a report on Wednesday, September 11th. They set an “outperform” rating and a $49.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Wedbush raised their price objective on shares of UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their target price on shares of UDR from $41.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, The Goldman Sachs Group initiated coverage on UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.28.

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.