According to Zacks, “Shares of UDR outperformed the Zacks categorized REIT – Equity Trust – Residential industry over the past one month. But, we remain apprehensive about UDR’s performance in the upcoming period as the company has been dealing with elevated deliveries in a number of its markets, including San Francisco, Los Angeles and New York. Also, UDR faces stiff competition from other housing alternatives such as rental apartments, condominiums and single-family homes, which limits its growth prospects. Further, rate hike adds to its woes. However, in January, UDR came up with a better-than-expected performance for fourth-quarter 2016. Growth in revenue from same-store and stabilized, non-mature communities attributed to this increase. It also announced a 2017 annualized dividend per share of $1.24, denoting an increase of 5% over the prior year.”
UDR has been the topic of a number of other research reports. Cantor Fitzgerald set a $39.00 target price on shares of UDR and gave the company a buy rating in a research note on Tuesday, December 6th. Barclays PLC lowered their target price on shares of UDR from $37.00 to $35.00 and set an equal weight rating on the stock in a research note on Monday, January 23rd. BMO Capital Markets restated a hold rating and set a $35.00 target price on shares of UDR in a research note on Monday, January 30th. SunTrust Banks, Inc. upgraded shares of UDR from a hold rating to a buy rating and set a $40.00 target price on the stock in a research note on Thursday, January 19th. Finally, Bank of America Corp upgraded shares of UDR from an underperform rating to a neutral rating and set a $37.00 price target on the stock in a report on Wednesday, March 8th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $38.20.
Shares of UDR (NYSE:UDR) opened at 36.08 on Wednesday. UDR has a 12-month low of $32.79 and a 12-month high of $38.61. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of 33.41 and a beta of 0.34. The stock’s 50 day moving average is $35.81 and its 200-day moving average is $35.05.
UDR (NYSE:UDR) last released its earnings results on Monday, January 30th. The real estate investment trust reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.36. UDR had a net margin of 30.52% and a return on equity of 9.96%. The company had revenue of $243.10 million for the quarter, compared to analysts’ expectations of $242.05 million. During the same quarter in the previous year, the company earned $0.62 EPS. UDR’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts expect that UDR will post $0.31 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a $0.31 dividend. This is an increase from UDR’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend is Thursday, April 6th. UDR’s payout ratio is currently 109.26%.
In other UDR news, insider Warren L. Troupe sold 15,000 shares of UDR stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $36.15, for a total value of $542,250.00. Following the sale, the insider now directly owns 538,422 shares in the company, valued at approximately $19,463,955.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.79% of the company’s stock.
A number of hedge funds have recently made changes to their positions in UDR. Victory Capital Management Inc. increased its stake in UDR by 49.5% in the third quarter. Victory Capital Management Inc. now owns 5,099 shares of the real estate investment trust’s stock worth $184,000 after buying an additional 1,689 shares during the period. US Bancorp DE increased its stake in UDR by 26.2% in the third quarter. US Bancorp DE now owns 5,648 shares of the real estate investment trust’s stock worth $204,000 after buying an additional 1,173 shares during the period. Conning Inc. increased its stake in UDR by 8.2% in the third quarter. Conning Inc. now owns 6,060 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 460 shares during the period. Tower Research Capital LLC TRC increased its stake in UDR by 638.3% in the third quarter. Tower Research Capital LLC TRC now owns 6,785 shares of the real estate investment trust’s stock worth $244,000 after buying an additional 5,866 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its stake in UDR by 2.8% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 6,847 shares of the real estate investment trust’s stock worth $246,000 after buying an additional 188 shares during the period.
UDR Company Profile
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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