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UDR (NYSE:UDR)’s share price hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company, Analyst RN reports. The company traded as high as $28.33 and last traded at $28.28, with a volume of 1,631,775 shares trading hands. The stock had previously closed at $28.07.

The newly announced dividend is scheduled for Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.68%.

A number of analysts have recently weighed in on UDR shares. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of UDR in a research note on Friday. They now have a $29.00 price target on the stock, up previously from $28.00. Separately, analysts at TheStreet upgraded shares of UDR from a “hold” rating to a “buy” rating in a research note on Friday, May 9th. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of UDR in a research note on Friday, May 2nd. They now have a $27.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $26.50.

The stock has a 50-day moving average of $27.37 and a 200-day moving average of $25.51. The company has a market cap of $7.110 billion and a price-to-earnings ratio of 117.45.

UDR (NYSE:UDR) last released its earnings data on Tuesday, April 29th. The company reported $0.36 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.36. The company had revenue of $198.04 million for the quarter, compared to the consensus estimate of $191.82 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts predict that UDR will post $1.51 earnings per share for the current fiscal year.

UDR, Inc (NYSE:UDR) is a self administered real estate investment trust (REIT), which owns, operates, acquires, renovates, develops, redevelops, and manages multifamily apartment communities located throughout the United States.

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