Wall Street brokerages forecast that UDR, Inc. (NYSE:UDR) will post $253.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for UDR’s earnings, with estimates ranging from $251.72 million to $257.66 million. UDR posted sales of $247.98 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.4%. The company is scheduled to report its next earnings results on Wednesday, July 25th.
According to Zacks, analysts expect that UDR will report full year sales of $1.02 billion for the current year, with estimates ranging from $1.01 billion to $1.04 billion. For the next year, analysts expect that the firm will report sales of $1.07 billion per share, with estimates ranging from $1.04 billion to $1.11 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for UDR.
UDR (NYSE:UDR) last issued its quarterly earnings results on Wednesday, April 25th. The real estate investment trust reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.17). UDR had a net margin of 17.65% and a return on equity of 6.57%. The company had revenue of $253.31 million during the quarter, compared to the consensus estimate of $252.02 million. During the same period last year, the company earned $0.45 earnings per share. UDR’s revenue for the quarter was up 3.9% on a year-over-year basis.
A number of analysts have weighed in on the stock. UBS Group downgraded shares of UDR from a “buy” rating to a “neutral” rating and set a $38.00 price target for the company. in a report on Monday, March 19th. Stifel Nicolaus raised shares of UDR from a “hold” rating to a “buy” rating and increased their price target for the company from $38.00 to $40.00 in a report on Thursday, May 31st. ValuEngine raised shares of UDR from a “sell” rating to a “hold” rating in a report on Thursday, May 31st. BMO Capital Markets reissued a “hold” rating and issued a $38.00 price target on shares of UDR in a report on Friday, March 2nd. Finally, Robert W. Baird set a $38.00 price target on shares of UDR and gave the company a “buy” rating in a report on Friday, March 2nd. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $39.17.
UDR traded up $0.22, reaching $37.32, during mid-day trading on Tuesday, Marketbeat reports. The company had a trading volume of 52,001 shares, compared to its average volume of 1,265,883. The company has a debt-to-equity ratio of 1.30, a current ratio of 5.83 and a quick ratio of 5.83. UDR has a 52 week low of $32.88 and a 52 week high of $40.71. The company has a market cap of $9.82 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 3.18 and a beta of 0.36.
In related news, CEO Thomas W. Toomey sold 30,000 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $36.00, for a total transaction of $1,080,000.00. Following the completion of the sale, the chief executive officer now owns 1,119,390 shares in the company, valued at approximately $40,298,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas W. Toomey sold 13,000 shares of the stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $35.50, for a total transaction of $461,500.00. Following the sale, the chief executive officer now owns 1,149,390 shares of the company’s stock, valued at approximately $40,803,345. The disclosure for this sale can be found here. 3.16% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Norinchukin Bank The increased its position in UDR by 24.5% in the 1st quarter. Norinchukin Bank The now owns 26,637 shares of the real estate investment trust’s stock valued at $949,000 after acquiring an additional 5,244 shares in the last quarter. IBM Retirement Fund acquired a new stake in UDR in the 1st quarter valued at about $208,000. Great West Life Assurance Co. Can increased its position in UDR by 1.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 388,379 shares of the real estate investment trust’s stock valued at $13,843,000 after acquiring an additional 6,746 shares in the last quarter. Toronto Dominion Bank increased its position in UDR by 25.4% in the 1st quarter. Toronto Dominion Bank now owns 144,523 shares of the real estate investment trust’s stock valued at $5,146,000 after acquiring an additional 29,263 shares in the last quarter. Finally, BlackRock Inc. increased its position in UDR by 1.3% in the 1st quarter. BlackRock Inc. now owns 29,734,095 shares of the real estate investment trust’s stock valued at $1,059,128,000 after acquiring an additional 389,191 shares in the last quarter. Institutional investors and hedge funds own 97.13% of the company’s stock.
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 properties in targeted U.S.
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