UDR (NYSE:UDR – Get Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.53-$0.55 for the period. The company issued revenue guidance of -. UDR also updated its FY 2022 guidance to $2.09-$2.13 EPS.
UDR Stock Down 2.4 %
Shares of UDR stock opened at $47.23 on Tuesday. The stock’s 50 day simple moving average is $45.85 and its 200 day simple moving average is $51.99. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.45 and a current ratio of 3.45. UDR has a twelve month low of $42.00 and a twelve month high of $61.06. The company has a market capitalization of $15.04 billion, a price-to-earnings ratio of 98.40, a PEG ratio of 2.33 and a beta of 0.75.
UDR Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Friday, July 8th. UDR’s payout ratio is 316.67%.
Analysts Set New Price Targets
Several research analysts have commented on UDR shares. TheStreet downgraded UDR from a b- rating to a c+ rating in a research report on Tuesday, April 26th. Morgan Stanley decreased their target price on UDR from $51.00 to $47.00 and set an equal weight rating on the stock in a research report on Friday, July 15th. Truist Financial cut their price target on UDR from $53.00 to $50.00 and set a hold rating for the company in a report on Friday, June 24th. Credit Suisse Group initiated coverage on UDR in a report on Wednesday, June 22nd. They issued an outperform rating and a $50.00 price target for the company. Finally, Evercore ISI set a $54.00 price target on UDR in a report on Monday, June 20th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $55.44.
Hedge Funds Weigh In On UDR
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A number of institutional investors have recently modified their holdings of UDR. Pearl River Capital LLC bought a new position in UDR in the first quarter valued at about $614,000. Private Advisor Group LLC boosted its holdings in UDR by 4.8% in the first quarter. Private Advisor Group LLC now owns 10,150 shares of the real estate investment trust’s stock valued at $582,000 after acquiring an additional 461 shares during the last quarter. Eqis Capital Management Inc. bought a new position in UDR in the first quarter valued at about $499,000. Neuberger Berman Group LLC boosted its holdings in UDR by 3.6% in the first quarter. Neuberger Berman Group LLC now owns 8,374 shares of the real estate investment trust’s stock valued at $480,000 after acquiring an additional 291 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in shares of UDR during the first quarter worth $409,000. 96.39% of the stock is owned by institutional investors.
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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