UDR, Inc. (UDR) to Distribute Quarterly Dividend of $0.42 on May 1st

UDR, Inc. (NYSE:UDR – Get Rating) declared a quarterly dividend on Thursday, March 16th, RTT News reports. Shareholders of record on Monday, April 10th will be paid a dividend of 0.42 per share by the real estate investment trust on Monday, May 1st. This represents a $1.68 annualized dividend and a yield of 4.32%. This is an increase from UDR’s previous quarterly dividend of $0.38.

UDR has raised its dividend by an average of 3.5% per year over the last three years and has increased its dividend every year for the last 13 years. UDR has a payout ratio of 241.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect UDR to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 58.2%.

UDR Stock Down 2.6 %

Shares of NYSE:UDR opened at $38.91 on Friday. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 155.64, a PEG ratio of 2.04 and a beta of 0.75. UDR has a fifty-two week low of $37.18 and a fifty-two week high of $60.01. The firm’s 50-day simple moving average is $42.03 and its 200-day simple moving average is $41.14. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.35.

UDR (NYSE:UDR – Get Rating) last issued its earnings results on Monday, February 6th. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.48). The company had revenue of $399.70 million for the quarter, compared to analyst estimates of $399.16 million. UDR had a return on equity of 2.66% and a net margin of 5.73%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts predict that UDR will post 2.5 earnings per share for the current year.

Hedge Funds Weigh In On UDR

A number of institutional investors have recently added to or reduced their stakes in UDR. Private Advisor Group LLC grew its position in shares of UDR by 4.8% during the first quarter. Private Advisor Group LLC now owns 10,150 shares of the real estate investment trust’s stock worth $582,000 after buying an additional 461 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in UDR by 9.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,015 shares of the real estate investment trust’s stock valued at $2,296,000 after acquiring an additional 3,535 shares during the last quarter. Aviva PLC grew its holdings in UDR by 68.5% during the 1st quarter. Aviva PLC now owns 72,356 shares of the real estate investment trust’s stock worth $4,151,000 after acquiring an additional 29,403 shares in the last quarter. Allianz Asset Management GmbH increased its position in shares of UDR by 0.6% in the 1st quarter. Allianz Asset Management GmbH now owns 465,509 shares of the real estate investment trust’s stock worth $26,706,000 after purchasing an additional 2,630 shares during the last quarter. Finally, Prudential PLC acquired a new stake in shares of UDR in the 1st quarter valued at about $369,000. Institutional investors and hedge funds own 92.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on UDR. Truist Financial cut their target price on shares of UDR from $52.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday, November 30th. Morgan Stanley raised UDR from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $49.00 to $47.00 in a research note on Friday, December 2nd. Mizuho raised their price target on shares of UDR from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, February 23rd. Barclays boosted their price objective on shares of UDR from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, March 1st. Finally, StockNews.com initiated coverage on shares of UDR in a research note on Thursday. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.87.

About UDR

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UDR, Inc is a real estate investment trust, which owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities. It engages in the multi-family real estate investment trust business. The firm operates through the Same-Store Communities and Non-Mature Communities/Other segments.