UDR (NYSE:UDR – Get Free Report) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.60-$0.62 for the period, compared to the consensus earnings per share estimate of $0.61. UDR also updated its FY24 guidance to $2.38-$2.50 EPS.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of UDR in a research note on Thursday, February 22nd. They issued a neutral rating and a $39.00 price objective for the company. Piper Sandler raised shares of UDR from an underweight rating to a neutral rating and boosted their target price for the stock from $34.00 to $40.00 in a research note on Wednesday, April 10th. UBS Group raised shares of UDR from a neutral rating to a buy rating and boosted their price target for the stock from $38.00 to $44.00 in a research note on Thursday, April 25th. Morgan Stanley reiterated an equal weight rating and issued a $37.00 price target on shares of UDR in a report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of UDR in a report on Tuesday, January 30th. They set a hold rating and a $40.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $41.78.
Get Our Latest Research Report on UDR
UDR Stock Performance
UDR Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be issued a dividend of $0.425 per share. The ex-dividend date is Tuesday, April 9th. This is a positive change from UDR’s previous quarterly dividend of $0.42. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.46%. UDR’s payout ratio is presently 126.87%.
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.
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