UDR, Inc. (NYSE:UDR) Expected to Earn Q2 2024 Earnings of $0.62 Per Share

UDR, Inc. (NYSE:UDR) – Equities researchers at Wedbush increased their Q2 2024 EPS estimates for UDR in a research note issued on Monday, May 6th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will earn $0.62 per share for the quarter, up from their previous forecast of $0.61. 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. 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.

Several other research analysts also recently weighed in on the company. Barclays downgraded UDR from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $46.00 to $37.00 in a research note on Tuesday, February 20th. Truist Financial reduced their target price on shares of UDR from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and upped their price target for the company from $34.00 to $40.00 in a research note on Wednesday, April 10th. Wells Fargo & Company upgraded shares of UDR from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $34.00 to $39.00 in a research note on Monday, March 4th. Finally, Mizuho dropped their target price on UDR from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.72.

UDR Price Performance

UDR opened at $38.27 on Tuesday. 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 hedge funds and other institutional investors have recently added to or reduced their stakes in UDR. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of UDR by 370.6% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 222,940 shares of the real estate investment trust’s stock worth $8,340,000 after purchasing an additional 175,566 shares in the last quarter. Entropy Technologies LP purchased a new stake in UDR in the first quarter worth approximately $886,000. Inspire Investing LLC grew its position in UDR by 13.0% during the first quarter. Inspire Investing LLC now owns 47,581 shares of the real estate investment trust’s stock valued at $1,780,000 after acquiring an additional 5,470 shares during the last quarter. Sei Investments Co. raised its stake in shares of UDR by 23.5% during the first quarter. Sei Investments Co. now owns 1,670,595 shares of the real estate investment trust’s stock worth $62,497,000 after acquiring an additional 318,282 shares in the last quarter. Finally, Forsta AP Fonden raised its stake in shares of UDR by 173.7% during the first quarter. Forsta AP Fonden now owns 183,400 shares of the real estate investment trust’s stock worth $6,861,000 after acquiring an additional 116,400 shares in the last quarter. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

UDR Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $1.70 annualized dividend and a dividend yield of 4.44%. This is a boost from UDR’s previous quarterly dividend of $0.42. UDR’s dividend payout ratio (DPR) 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.