Zacks: Analysts Expect UDR, Inc. (NYSE:UDR) Will Announce Earnings of $0.47 Per Share

Analysts expect that UDR, Inc. (NYSE:UDR) will announce $0.48 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for UDR’s earnings, with estimates ranging from $0.46 to $0.49. UDR posted earnings per share of $0.53 in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.4%. The business is expected to report its next earnings results after the market closes on Tuesday, April 27th.

According to Zacks, analysts expect that UDR will report full year earnings of $1.95 per share for the current fiscal year, with EPS estimates ranging from $1.92 to $1.99. For the next year, analysts forecast that the company will post earnings of $2.08 per share, with EPS estimates ranging from $2.00 to $2.14. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow UDR.

UDR (NYSE:UDR) last released its earnings results on Tuesday, February 9th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.40). The business had revenue of $302.40 million for the quarter, compared to the consensus estimate of $304.34 million. UDR had a net margin of 10.91% and a return on equity of 4.83%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 EPS.

Several equities analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of UDR from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Piper Sandler upgraded shares of UDR from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $35.00 to $44.00 in a report on Thursday, February 11th. BMO Capital Markets upgraded shares of UDR from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $39.00 to $43.00 in a research note on Monday, January 11th. KeyCorp increased their target price on UDR from $44.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Finally, Royal Bank of Canada began coverage on UDR in a research report on Tuesday, March 30th. They set a “sector perform” rating and a $45.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. UDR has a consensus rating of “Buy” and an average price target of $43.58.

NYSE:UDR traded down $0.15 during trading hours on Friday, hitting $46.26. The company had a trading volume of 40,636 shares, compared to its average volume of 1,859,546. UDR has a 1 year low of $29.34 and a 1 year high of $46.62. The company has a market cap of $13.73 billion, a P/E ratio of 105.05, a P/E/G ratio of 4.75 and a beta of 0.77. The company has a 50-day moving average of $44.12 and a 200 day moving average of $39.45. The company has a current ratio of 4.55, a quick ratio of 4.55 and a debt-to-equity ratio of 1.50.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Friday, April 9th will be given a dividend of $0.3625 per share. This is a boost from UDR’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, April 8th. This represents a $1.45 annualized dividend and a dividend yield of 3.13%. UDR’s dividend payout ratio (DPR) is presently 69.71%.

In other news, CEO Thomas W. Toomey sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 7th. The shares were sold at an average price of $44.40, for a total value of $444,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,193,726 shares in the company, valued at $53,001,434.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas W. Toomey sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $45.53, for a total transaction of $1,821,200.00. Insiders own 2.69% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace LLP acquired a new position in shares of UDR in the first quarter worth about $157,000. Amundi Pioneer Asset Management Inc. lifted its position in shares of UDR by 36.3% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 383,735 shares of the real estate investment trust’s stock worth $17,445,000 after purchasing an additional 102,266 shares in the last quarter. AQR Capital Management LLC grew its position in UDR by 340.5% during the third quarter. AQR Capital Management LLC now owns 45,402 shares of the real estate investment trust’s stock valued at $1,481,000 after purchasing an additional 35,096 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in UDR by 2.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 393,080 shares of the real estate investment trust’s stock worth $12,818,000 after buying an additional 8,156 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its stake in UDR by 525.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 114,270 shares of the real estate investment trust’s stock valued at $3,727,000 after purchasing an additional 95,988 shares in the last quarter. Institutional investors and hedge funds own 97.37% of the company’s stock.

About UDR

UDR, Inc (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S.

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Earnings History and Estimates for UDR (NYSE:UDR)

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