UDR, Inc. (NYSE:UDR) Increases Dividend to $0.42 Per Share

UDR, Inc. (NYSE:UDR – Get Rating) declared a quarterly dividend on Thursday, March 16th, RTT News reports. Investors 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 dividend on an annualized basis and a yield of 4.21%. This is an increase from UDR’s previous quarterly dividend of $0.38.

UDR has increased its dividend payment by an average of 3.5% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. UDR has a dividend payout ratio of 241.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Performance

Shares of UDR opened at $39.95 on Friday. UDR has a 12 month low of $37.18 and a 12 month high of $60.01. The business’s fifty day simple moving average is $42.03 and its two-hundred day simple moving average is $41.18. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.35. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 159.80, a P/E/G ratio of 2.04 and a beta of 0.75.

UDR (NYSE:UDR – Get Rating) last released its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.48). UDR had a net margin of 5.73% and a return on equity of 2.66%. The business had revenue of $399.70 million for the quarter, compared to analysts’ expectations of $399.16 million. During the same period last year, the business earned $0.54 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Research analysts anticipate that UDR will post 2.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On UDR

A number of institutional investors have recently bought and sold shares of the business. 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 purchasing an additional 461 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in UDR by 9.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,015 shares of the real estate investment trust’s stock worth $2,296,000 after purchasing an additional 3,535 shares during the period. 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 valued at $4,151,000 after buying an additional 29,403 shares in the last quarter. Allianz Asset Management GmbH raised its position in shares of UDR by 0.6% during the first quarter. Allianz Asset Management GmbH now owns 465,509 shares of the real estate investment trust’s stock valued at $26,706,000 after buying an additional 2,630 shares during the last quarter. Finally, Prudential PLC purchased a new position in shares of UDR in the first quarter worth $369,000. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley raised shares of UDR from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $49.00 to $47.00 in a report on Friday, December 2nd. UBS Group started coverage on UDR in a report on Thursday, December 15th. They set a “neutral” rating and a $43.00 price target on the stock. Robert W. Baird lifted their price objective on UDR from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Barclays upped their price objective on 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 report on Thursday. They issued a “hold” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.87.

UDR Company Profile

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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.