UDR (NYSE:UDR) Releases Q3 2024 Earnings Guidance

UDR (NYSE:UDR) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.610-0.630 for the period, compared to the consensus estimate of 0.620. The company issued revenue guidance of -. UDR also updated its FY 2024 guidance to 2.420-2.500 EPS.

UDR Price Performance

UDR stock traded down $0.31 during midday trading on Tuesday, hitting $40.85. 3,221,875 shares of the company’s stock were exchanged, compared to its average volume of 2,640,630. UDR has a 52-week low of $30.95 and a 52-week high of $42.42. The stock has a 50-day moving average price of $40.29 and a two-hundred day moving average price of $38.18. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.61 and a current ratio of 6.61. The company has a market cap of $13.45 billion, a P/E ratio of 29.60, a PEG ratio of 9.10 and a beta of 0.83.

UDR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.16%. The ex-dividend date is Wednesday, July 10th. UDR’s payout ratio is 123.19%.

Analyst Ratings Changes

Several equities analysts recently commented on UDR shares. Wells Fargo & Company boosted their target price on UDR from $39.00 to $41.00 and gave the stock an overweight rating in a research report on Friday, May 31st. UBS Group upped their price objective on UDR from $44.00 to $48.00 and gave the stock a buy rating in a report on Thursday, July 18th. Wedbush upped their price objective on UDR from $40.00 to $45.00 and gave the stock an outperform rating in a report on Monday, May 6th. JPMorgan Chase & Co. upped their price objective on UDR from $42.00 to $43.00 and gave the stock an overweight rating in a report on Monday, June 17th. Finally, Morgan Stanley upped their price objective on UDR from $37.00 to $40.00 and gave the stock an equal weight rating in a report on Tuesday, May 14th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UDR currently has an average rating of Hold and an average target price of $41.17.

Insider Activity at UDR

In other UDR news, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $38.17, for a total transaction of $171,765.00. Following the completion of the transaction, the senior vice president now owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $39.52, for a total transaction of $3,556,800.00. Following the completion of the transaction, the chief executive officer now owns 849,716 shares of the company’s stock, valued at approximately $33,580,776.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael D. Lacy sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the transaction, the senior vice president now directly owns 8,566 shares of the company’s stock, valued at approximately $326,964.22. The disclosure for this sale can be found here. 3.73% of the stock is currently owned by company 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 communities in targeted U.S.