Upbound Group, Inc. Declares Quarterly Dividend of $0.39 (NASDAQ:UPBD)

Upbound Group, Inc. (NASDAQ:UPBD) declared a quarterly dividend on Friday, March 21st, RTT News reports. Investors of record on Wednesday, April 2nd will be paid a dividend of 0.39 per share on Tuesday, April 22nd. This represents a $1.56 annualized dividend and a dividend yield of 6.29%.

Upbound Group has increased its dividend payment by an average of 5.7% annually over the last three years. Upbound Group has a payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Upbound Group to earn $4.98 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 31.3%.

Upbound Group Stock Up 0.7 %

NASDAQ:UPBD opened at $24.81 on Friday. The company’s 50 day moving average is $27.70 and its two-hundred day moving average is $29.80. The company has a market cap of $1.42 billion, a PE ratio of 11.23 and a beta of 2.01. Upbound Group has a twelve month low of $23.35 and a twelve month high of $38.72. The company has a current ratio of 3.66, a quick ratio of 0.86 and a debt-to-equity ratio of 2.08.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.02. Upbound Group had a net margin of 2.86% and a return on equity of 35.47%. The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. Analysts anticipate that Upbound Group will post 4.28 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Cowen raised Upbound Group to a “strong-buy” rating in a report on Friday, November 29th. Loop Capital cut their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Activity

In related news, CFO Fahmi Karam acquired 11,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $25.82 per share, with a total value of $296,930.00. Following the completion of the acquisition, the chief financial officer now directly owns 164,672 shares in the company, valued at approximately $4,251,831.04. This trade represents a 7.51 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey J. Brown bought 1,146 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was bought at an average price of $29.01 per share, for a total transaction of $33,245.46. Following the transaction, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. This trade represents a 1.34 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.