UDR (NYSE:UDR) Issues FY 2024 Earnings Guidance

by · The Cerbat Gem

UDR (NYSE:UDR – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.470-2.490 for the period, compared to the consensus EPS estimate of 2.480. The company issued revenue guidance of -. UDR also updated its Q4 guidance to $0.56-0.58 EPS.

UDR Price Performance

Shares of UDR stock traded down $0.09 during mid-day trading on Wednesday, reaching $43.52. The stock had a trading volume of 3,137,748 shares, compared to its average volume of 2,496,888. UDR has a 12-month low of $30.95 and a 12-month high of $47.55. The company has a market cap of $14.35 billion, a P/E ratio of 106.37, a price-to-earnings-growth ratio of 9.62 and a beta of 0.85. The business has a 50-day simple moving average of $44.70 and a 200 day simple moving average of $41.53. The company has a current ratio of 5.82, a quick ratio of 5.82 and a debt-to-equity ratio of 1.57.

UDR (NYSE:UDR – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.53). The company had revenue of $415.30 million for the quarter, compared to analyst estimates of $413.75 million. UDR had a net margin of 8.34% and a return on equity of 3.70%. The firm’s revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.61 EPS. On average, sell-side analysts anticipate that UDR will post 2.47 earnings per share for the current year.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date of this dividend is Thursday, October 10th. UDR’s payout ratio is 414.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on UDR shares. The Goldman Sachs Group started coverage on UDR in a research note on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective on the stock. Truist Financial lifted their price objective on UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. Wedbush lifted their price objective on UDR from $45.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. UBS Group lifted their price objective on UDR from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. lifted their price objective on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, UDR currently has a consensus rating of “Hold” and a consensus target price of $44.28.

View Our Latest Research Report on UDR

UDR Company Profile

(Get Free Report)

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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