Wedbush Weighs in on UDR, Inc.’s Q1 2024 Earnings (NYSE:UDR)

UDR, Inc. (NYSE:UDRFree Report) – Equities research analysts at Wedbush issued their Q1 2024 earnings per share (EPS) estimates for UDR in a note issued to investors on Monday, February 12th. Wedbush analyst R. Anderson anticipates that the real estate investment trust will post earnings per share of $0.61 for the quarter. The consensus estimate for UDR’s current full-year earnings is $2.46 per share. Wedbush also issued estimates for UDR’s Q2 2024 earnings at $0.61 EPS, Q3 2024 earnings at $0.61 EPS, Q4 2024 earnings at $0.62 EPS, FY2024 earnings at $2.45 EPS and FY2025 earnings at $2.60 EPS.

UDR has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on UDR in a report on Tuesday, January 30th. They issued a “hold” rating and a $40.00 price target on the stock. TheStreet lowered UDR from a “b-” rating to a “c” rating in a report on Thursday, October 26th. Bank of America lowered UDR from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $33.00 in a report on Tuesday, October 31st. Piper Sandler lowered UDR from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $46.00 to $30.00 in a report on Tuesday, October 31st. Finally, KeyCorp dropped their target price on UDR from $48.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.69.

Read Our Latest Research Report on UDR

UDR Stock Up 0.6 %

Shares of NYSE:UDR opened at $35.57 on Tuesday. The business’s 50 day simple moving average is $37.06 and its two-hundred day simple moving average is $36.57. The firm has a market cap of $11.70 billion, a P/E ratio of 26.54, a PEG ratio of 2.37 and a beta of 0.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 5.43 and a current ratio of 1.12. UDR has a 52-week low of $30.95 and a 52-week high of $45.46.

UDR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Wednesday, January 10th were paid a $0.42 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $1.68 annualized dividend and a dividend yield of 4.72%. UDR’s payout ratio is currently 125.37%.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $37.90, for a total value of $1,705,500.00. Following the sale, the chief executive officer now owns 939,716 shares in the company, valued at approximately $35,615,236.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.41% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On UDR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Nova Scotia lifted its holdings in shares of UDR by 34.4% during the 4th quarter. Bank of Nova Scotia now owns 38,255 shares of the real estate investment trust’s stock valued at $1,465,000 after buying an additional 9,795 shares during the period. Makena Capital Management LLC lifted its holdings in shares of UDR by 2.5% during the 4th quarter. Makena Capital Management LLC now owns 258,896 shares of the real estate investment trust’s stock valued at $9,913,000 after buying an additional 6,275 shares during the period. Evoke Wealth LLC bought a new position in shares of UDR during the 4th quarter valued at $5,812,000. Treasurer of the State of North Carolina lifted its holdings in shares of UDR by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 149,716 shares of the real estate investment trust’s stock valued at $5,733,000 after buying an additional 1,430 shares during the period. Finally, Stifel Financial Corp lifted its holdings in shares of UDR by 3.3% during the 4th quarter. Stifel Financial Corp now owns 15,662 shares of the real estate investment trust’s stock valued at $600,000 after buying an additional 507 shares during the period. 91.68% of the stock is owned by institutional investors.

UDR Company Profile

(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.

See Also

Earnings History and Estimates for UDR (NYSE:UDR)

Receive News & Ratings for UDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR and related companies with MarketBeat.com's FREE daily email newsletter.