UDR, Inc. (NYSE:UDR) Declares $0.43 Quarterly Dividend

UDR, Inc. (NYSE:UDR - Get Free Report) declared a quarterly dividend on Thursday, June 12th, RTT News reports. Investors of record on Thursday, July 10th will be given a dividend of 0.43 per share by the real estate investment trust on Thursday, July 31st. This represents a $1.72 annualized dividend and a yield of 4.10%.

UDR has a dividend payout ratio of 282.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect UDR to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 65.9%.

UDR Trading Up 0.9%

UDR stock traded up $0.36 during trading on Thursday, hitting $41.93. The company had a trading volume of 1,283,151 shares, compared to its average volume of 2,153,009. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $13.89 billion, a P/E ratio of 167.72, a PEG ratio of 8.67 and a beta of 0.83. The company has a 50 day simple moving average of $41.21 and a 200-day simple moving average of $42.58. UDR has a 52-week low of $36.61 and a 52-week high of $47.55.

UDR (NYSE:UDR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, hitting analysts' consensus estimates of $0.61. UDR had a return on equity of 2.65% and a net margin of 5.36%. The business had revenue of $419.84 million for the quarter, compared to analyst estimates of $421.23 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. As a group, research analysts forecast that UDR will post 2.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on UDR shares. Barclays upped their target price on UDR from $48.00 to $51.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Truist Financial downgraded UDR from a "buy" rating to a "hold" rating and upped their target price for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. Scotiabank upped their target price on UDR from $48.00 to $49.00 and gave the stock a "sector perform" rating in a research note on Friday, February 14th. Zelman & Associates reaffirmed a "neutral" rating on shares of UDR in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their price objective on UDR from $43.00 to $44.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, UDR has an average rating of "Hold" and a consensus price target of $46.44.

Hedge Funds Weigh In On UDR

Several institutional investors have recently added to or reduced their stakes in UDR. Jane Street Group LLC increased its stake in UDR by 35.0% in the first quarter. Jane Street Group LLC now owns 14,028 shares of the real estate investment trust's stock valued at $634,000 after purchasing an additional 3,637 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in UDR by 1.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 60,692 shares of the real estate investment trust's stock valued at $2,741,000 after acquiring an additional 986 shares during the period. Finally, Empowered Funds LLC grew its position in UDR by 5.8% during the first quarter. Empowered Funds LLC now owns 6,129 shares of the real estate investment trust's stock valued at $277,000 after acquiring an additional 337 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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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