Wedbush Has Pessimistic Outlook of UDR FY2024 Earnings

UDR, Inc. (NYSE:UDR) – Stock analysts at Wedbush cut their FY2024 earnings per share (EPS) estimates for shares of UDR in a research report issued to clients and investors on Wednesday, November 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings per share of $2.48 for the year, down from their prior estimate of $2.49. Wedbush has a “Outperform” rating and a $49.00 price objective on the stock. The consensus estimate for UDR’s current full-year earnings is $2.48 per share. Wedbush also issued estimates for UDR’s FY2025 earnings at $2.54 EPS.

Other analysts have also issued reports about the company. Wells Fargo & Company increased their price objective on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Evercore ISI lifted 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. Truist Financial increased their price objective on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Royal Bank of Canada reduced their target price on shares of UDR from $46.00 to $45.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 5th. Finally, Scotiabank raised their target price on UDR from $45.00 to $49.00 and gave the company a “sector perform” rating in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.24.

UDR Stock Up 2.2 %

UDR stock opened at $44.48 on Friday. The company has a 50 day moving average of $44.62 and a two-hundred day moving average of $41.84. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. UDR has a 12-month low of $31.87 and a 12-month high of $47.55. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 120.22, a PEG ratio of 9.45 and a beta of 0.85.

UDR Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s dividend payout ratio is currently 459.47%.

Institutional Trading of UDR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors acquired a new stake in UDR during the 1st quarter worth $176,137,000. Mizuho Securities USA LLC grew its position in shares of UDR by 8,460.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,000,000 shares of the real estate investment trust’s stock valued at $90,680,000 after purchasing an additional 1,976,637 shares during the period. Millennium Management LLC increased its stake in UDR by 115.3% during the 2nd quarter. Millennium Management LLC now owns 3,499,150 shares of the real estate investment trust’s stock worth $143,990,000 after purchasing an additional 1,874,096 shares in the last quarter. Centersquare Investment Management LLC raised its holdings in UDR by 17.7% during the 1st quarter. Centersquare Investment Management LLC now owns 9,550,638 shares of the real estate investment trust’s stock worth $363,688,000 after buying an additional 1,433,463 shares during the period. Finally, PGGM Investments lifted its stake in UDR by 38.2% in the first quarter. PGGM Investments now owns 3,211,724 shares of the real estate investment trust’s stock valued at $120,151,000 after buying an additional 887,060 shares in the last quarter. 97.84% of the stock is owned by institutional investors.

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.