UDR, Inc. (UDR) to Issue Quarterly Dividend of $0.43 on October 31st

UDR, Inc. (NYSE:UDR) announced a quarterly dividend on Thursday, September 19th, NASDAQ reports. Investors of record on Thursday, October 10th will be paid a dividend of 0.425 per share by the real estate investment trust on Thursday, October 31st. This represents a $1.70 annualized dividend and a dividend yield of 3.73%. The ex-dividend date of this dividend is Thursday, October 10th.

UDR has increased its dividend by an average of 4.9% per year over the last three years and has increased its dividend annually for the last 14 consecutive years. UDR has a payout ratio of 361.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect UDR to earn $2.54 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 66.9%.

UDR Stock Performance

Shares of UDR opened at $45.62 on Friday. The stock has a market capitalization of $15.02 billion, a P/E ratio of 33.06, a P/E/G ratio of 10.30 and a beta of 0.85. The company has a debt-to-equity ratio of 1.57, a quick ratio of 5.82 and a current ratio of 5.82. UDR has a 1 year low of $30.95 and a 1 year high of $47.55. The company’s fifty day moving average is $42.94 and its two-hundred day moving average is $40.06.

UDR (NYSE:UDR) last issued its earnings results on Tuesday, July 30th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.53). The firm had revenue of $415.30 million during the quarter, compared to analysts’ expectations 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 firm earned $0.61 EPS. On average, sell-side analysts predict that UDR will post 2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UDR shares. Wells Fargo & Company increased their target price on UDR from $41.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. increased their price objective on UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft raised their target price on UDR from $40.00 to $44.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. UBS Group upped their price target on shares of UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, September 12th. Finally, Truist Financial raised their price objective on shares of UDR from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, UDR presently has an average rating of “Hold” and a consensus target price of $44.28.

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.