UDR Hits New 1-Year High After Dividend Announcement (UDR)
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.