UDR, Inc. (NYSE:UDR) Declares Quarterly Dividend of $0.43

UDR, Inc. (NYSE:UDRGet Free Report) declared a quarterly dividend on Thursday, June 13th, RTT News reports. Stockholders of record on Wednesday, July 10th will be given a dividend of 0.425 per share by the real estate investment trust on Wednesday, July 31st. This represents a $1.70 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Wednesday, July 10th.

UDR has raised its dividend payment by an average of 4.9% per year over the last three years and has raised its dividend every year for the last 14 years. UDR has a dividend payout ratio of 354.2% 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 $2.54 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 66.9%.

UDR Price Performance

UDR opened at $40.82 on Tuesday. The company has a current ratio of 6.61, a quick ratio of 6.61 and a debt-to-equity ratio of 1.49. UDR has a 1 year low of $30.95 and a 1 year high of $44.02. The stock has a fifty day moving average price of $39.58 and a 200 day moving average price of $37.86. The stock has a market cap of $13.44 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 9.01 and a beta of 0.83.

Insider Activity at UDR

In other UDR news, CEO Thomas W. Toomey sold 90,000 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the sale, the chief executive officer now directly owns 849,716 shares in the company, valued at approximately $33,580,776.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Thomas W. Toomey sold 90,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $39.52, for a total value of $3,556,800.00. Following the completion of the sale, the chief executive officer now owns 849,716 shares in the company, valued at $33,580,776.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael D. Lacy sold 4,500 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $38.17, for a total value of $171,765.00. Following the transaction, the senior vice president now owns 8,566 shares in the company, valued at $326,964.22. The disclosure for this sale can be found here. Corporate insiders own 3.73% of the company’s stock.

Wall Street Analysts Forecast Growth

UDR has been the subject of several recent research reports. UBS Group raised shares of UDR from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $44.00 in a research report on Thursday, April 25th. Wedbush increased their target price on shares of UDR from $40.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Scotiabank boosted their price target on UDR from $39.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 14th. Wells Fargo & Company upped their price target on UDR from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. raised their price objective on UDR from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $40.71.

Check Out Our Latest Analysis on UDR

About UDR

(Get Free Report)

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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Dividend History for UDR (NYSE:UDR)

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