UDR, Inc. (NYSE:UDR) Plans Quarterly Dividend of $0.43

UDR, Inc. (NYSE:UDR) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Investors of record on Thursday, October 10th will be paid a dividend of 0.425 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.70 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Thursday, October 10th.

UDR has raised its dividend payment by an average of 4.9% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. UDR has a dividend payout ratio of 361.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect UDR to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 66.9%.

UDR Price Performance

UDR traded down $0.53 on Friday, hitting $45.62. 4,014,583 shares of the company’s stock were exchanged, compared to its average volume of 2,592,850. UDR has a fifty-two week low of $30.95 and a fifty-two week high of $47.55. The stock has a market cap of $15.02 billion, a price-to-earnings ratio of 33.06, a P/E/G ratio of 10.30 and a beta of 0.85. The firm has a 50-day moving average price of $42.83 and a 200-day moving average price of $40.00. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR) last posted its quarterly earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The business had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR had a return on equity of 3.70% and a net margin of 8.34%. The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities analysts anticipate that UDR will post 2.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on UDR shares. The Goldman Sachs Group assumed coverage on UDR in a research report on Wednesday, September 4th. They set a “sell” rating and a $42.00 price objective on the stock. Evercore ISI boosted their price target on shares of UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a research report on Monday, September 9th. Wedbush raised their price objective on shares of UDR from $45.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Truist Financial boosted their target price on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, UDR presently has a consensus rating of “Hold” and a consensus target price of $44.28.

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.