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

UDR, Inc. (NYSE:UDR) declared a quarterly dividend on Thursday, September 19th, NASDAQ reports. Investors of record on Thursday, October 10th will be given 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 of this dividend is Thursday, October 10th.

UDR has raised its dividend payment by an average of 4.9% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. UDR has a 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 Stock Down 1.1 %

NYSE UDR traded down $0.53 during trading hours on Friday, hitting $45.62. The company had a trading volume of 4,129,608 shares, compared to its average volume of 2,592,850. The firm’s 50 day moving average is $42.83 and its 200 day moving average is $40.00. The company has a market capitalization 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. UDR has a fifty-two week low of $30.95 and a fifty-two week high of $47.55. The company has a debt-to-equity ratio of 1.57, a current ratio of 5.82 and a quick ratio of 5.82.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on UDR. Evercore ISI increased their price target on UDR from $42.00 to $43.00 and gave the company an “in-line” rating in a report on Monday, September 9th. BMO Capital Markets upgraded shares of UDR from a “market perform” rating to an “outperform” rating and upped their target price for the company from $39.00 to $45.00 in a research note on Monday, July 15th. Mizuho increased their price target on shares of UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Wedbush boosted their price objective on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Truist Financial increased their target price on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.