UDR, Inc. (NYSE:UDR) declared a quarterly dividend on Thursday, June 18th, RTT News reports. Shareholders of record on Friday, July 10th will be given a dividend of 0.36 per share by the real estate investment trust on Friday, July 31st. This represents a $1.44 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, July 9th.
UDR has raised its dividend payment by an average of 27.7% annually over the last three years and has raised its dividend annually for the last 10 consecutive years. UDR has a payout ratio of 1,028.6% indicating that 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 $2.11 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 68.2%.
UDR opened at $38.57 on Tuesday. The stock’s fifty day moving average is $37.82 and its two-hundred day moving average is $41.70. The company has a market capitalization of $11.37 billion, a P/E ratio of 18.28, a PEG ratio of 3.08 and a beta of 0.62. UDR has a 52 week low of $29.20 and a 52 week high of $51.25. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 1.42.
UDR (NYSE:UDR) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.53). UDR had a return on equity of 4.98% and a net margin of 13.80%. The firm had revenue of $321.48 million for the quarter, compared to analysts’ expectations of $310.30 million. During the same quarter in the previous year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. Equities analysts anticipate that UDR will post 2.09 earnings per share for the current year.
A number of brokerages have recently issued reports on UDR. Zacks Investment Research downgraded UDR from a “hold” rating to a “sell” rating and set a $41.00 price target on the stock. in a report on Friday, May 29th. Piper Sandler boosted their target price on UDR from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Zelman & Associates upgraded UDR from a “sell” rating to a “hold” rating in a research note on Monday, May 18th. Evercore ISI upgraded UDR from an “underperform” rating to an “in-line” rating and boosted their target price for the stock from $38.00 to $41.00 in a research note on Monday, May 11th. Finally, Stifel Nicolaus boosted their target price on UDR from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $45.00.
In related news, CEO Thomas W. Toomey sold 30,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $40.73, for a total value of $1,221,900.00. Following the transaction, the chief executive officer now owns 1,501,226 shares of the company’s stock, valued at $61,144,934.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Harry G. Alcock sold 10,000 shares of the stock in a transaction on Monday, June 8th. The shares were sold at an average price of $42.50, for a total value of $425,000.00. Following the completion of the transaction, the senior vice president now directly owns 77,261 shares in the company, valued at approximately $3,283,592.50. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock worth $2,046,900 in the last three months. 2.69% of the stock is currently owned by corporate insiders.
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 properties in targeted U.S.
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