UDR, Inc. (NYSE:UDR) – Research analysts at KeyCorp upped their FY2018 earnings per share (EPS) estimates for shares of UDR in a research note issued on Monday, September 24th. KeyCorp analyst A. Wurschmidt now forecasts that the real estate investment trust will earn $1.95 per share for the year, up from their prior forecast of $1.93. KeyCorp also issued estimates for UDR’s FY2019 earnings at $2.08 EPS.
UDR (NYSE:UDR) last released its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.01. UDR had a return on equity of 6.87% and a net margin of 18.47%. The business had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $253.59 million. During the same quarter last year, the business posted $0.47 EPS. The business’s revenue was up 4.7% on a year-over-year basis.
Several other research firms have also recently weighed in on UDR. Stifel Nicolaus increased their price objective on UDR from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird reiterated a “buy” rating and issued a $40.00 price objective on shares of UDR in a report on Thursday, August 16th. Royal Bank of Canada increased their price objective on UDR from $39.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, August 10th. Citigroup increased their price objective on UDR from $39.00 to $40.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. Finally, Jefferies Financial Group started coverage on UDR in a report on Monday, June 11th. They issued a “hold” rating and a $38.00 price objective for the company. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. UDR presently has a consensus rating of “Hold” and an average target price of $39.54.
NYSE UDR opened at $39.88 on Thursday. UDR has a fifty-two week low of $32.88 and a fifty-two week high of $41.04. The company has a debt-to-equity ratio of 1.38, a current ratio of 6.03 and a quick ratio of 6.03. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 3.39 and a beta of 0.34.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be paid a $0.3323 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Tuesday, October 9th. This is a boost from UDR’s previous quarterly dividend of $0.32. UDR’s dividend payout ratio (DPR) is presently 68.98%.
In other news, Director Lynne B. Sagalyn sold 4,773 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $40.40, for a total value of $192,829.20. Following the completion of the transaction, the director now owns 87,176 shares in the company, valued at approximately $3,521,910.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Harry G. Alcock sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $40.45, for a total value of $404,500.00. Following the completion of the transaction, the senior vice president now owns 126,123 shares of the company’s stock, valued at approximately $5,101,675.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,773 shares of company stock valued at $4,140,829. 3.16% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Piedmont Investment Advisors LLC purchased a new position in UDR during the second quarter valued at $118,000. American National Bank purchased a new position in UDR during the second quarter valued at $130,000. Point72 Hong Kong Ltd raised its stake in UDR by 1,406.2% during the second quarter. Point72 Hong Kong Ltd now owns 3,886 shares of the real estate investment trust’s stock valued at $146,000 after buying an additional 3,628 shares during the last quarter. IBM Retirement Fund purchased a new position in UDR during the first quarter valued at $208,000. Finally, Qube Research & Technologies Ltd raised its stake in UDR by 1,900.0% during the second quarter. Qube Research & Technologies Ltd now owns 6,280 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 5,966 shares during the last quarter. Institutional investors and hedge funds own 95.23% of the company’s stock.
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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