Cantor Fitzgerald Comments on UDR, Inc.’s FY2017 Earnings (UDR)
UDR, Inc. (NYSE:UDR) – Equities researchers at Cantor Fitzgerald boosted their FY2017 EPS estimates for shares of UDR in a research note issued to investors on Tuesday. Cantor Fitzgerald analyst G. Mehta now forecasts that the real estate investment trust will post earnings of $1.87 per share for the year, up from their prior forecast of $1.86. Cantor Fitzgerald currently has a “Buy” rating and a $39.00 price target on the stock.
UDR (NYSE:UDR) last posted its quarterly earnings data on Monday, April 24th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $243.80 million for the quarter, compared to the consensus estimate of $240.55 million. UDR had a return on equity of 9.96% and a net margin of 30.52%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS.
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Several other research analysts have also weighed in on the company. Zacks Investment Research lowered UDR from a “hold” rating to a “sell” rating in a research report on Wednesday, March 22nd. SunTrust Banks, Inc. raised UDR from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, January 19th. Bank of America Corp raised UDR from an “underperform” rating to a “neutral” rating and set a $37.00 price objective on the stock in a research report on Wednesday, March 8th. Evercore ISI lowered UDR to a “buy” rating in a research report on Friday, March 3rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $35.00 price objective on shares of UDR in a research report on Monday, January 30th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. UDR currently has a consensus rating of “Hold” and a consensus price target of $38.10.
UDR (NYSE:UDR) traded up 0.75% on Thursday, reaching $37.68. The company had a trading volume of 131,536 shares. The stock has a market capitalization of $10.08 billion, a P/E ratio of 33.46 and a beta of 0.34. UDR has a 12 month low of $32.79 and a 12 month high of $38.11. The firm has a 50-day moving average of $36.86 and a 200-day moving average of $35.61.
A number of institutional investors have recently modified their holdings of UDR. DnB Asset Management AS increased its position in shares of UDR by 5.1% in the third quarter. DnB Asset Management AS now owns 20,444 shares of the real estate investment trust’s stock worth $736,000 after buying an additional 1,000 shares during the last quarter. World Asset Management Inc increased its position in shares of UDR by 2.1% in the third quarter. World Asset Management Inc now owns 32,550 shares of the real estate investment trust’s stock worth $1,171,000 after buying an additional 658 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of UDR by 0.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 30,966 shares of the real estate investment trust’s stock worth $1,114,000 after buying an additional 152 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of UDR by 5.3% in the third quarter. Daiwa Securities Group Inc. now owns 17,807,981 shares of the real estate investment trust’s stock worth $640,910,000 after buying an additional 896,521 shares during the last quarter. Finally, Rikoon Group LLC bought a new position in shares of UDR during the third quarter worth approximately $714,000.
In related news, VP Warren L. Troupe sold 15,000 shares of UDR stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $36.05, for a total value of $540,750.00. Following the completion of the transaction, the vice president now directly owns 531,151 shares in the company, valued at $19,147,993.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.79% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which was paid on Monday, May 1st. Investors of record on Monday, April 10th were paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.32%. This is an increase from UDR’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, April 6th. UDR’s dividend payout ratio (DPR) is 109.26%.
UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.
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