UDR, Inc. (NYSE:UDR) announced a quarterly dividend on Thursday, September 20th, RTT News reports. Investors of record on Wednesday, October 10th will be given a dividend of 0.3323 per share by the real estate investment trust on Wednesday, October 31st. This represents a $1.33 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, October 9th. This is a boost from UDR’s previous quarterly dividend of $0.32.
UDR has raised its dividend by an average of 6.5% per year over the last three years and has raised its dividend every year for the last 8 years. UDR has a dividend payout ratio of 66.5% meaning its dividend is sufficiently covered by earnings. Analysts expect UDR to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.29 annual dividend with an expected future payout ratio of 62.9%.
NYSE UDR opened at $39.67 on Monday. The company has a market cap of $10.82 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 3.41 and a beta of 0.33. UDR has a one year low of $32.88 and a one year high of $41.04. The company has a debt-to-equity ratio of 1.38, a quick ratio of 6.03 and a current ratio of 6.03.
UDR (NYSE:UDR) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.49 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.01. The business had revenue of $259.74 million for the quarter, compared to analyst estimates of $253.59 million. UDR had a return on equity of 6.87% and a net margin of 18.47%. UDR’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.47 EPS. Analysts forecast that UDR will post 1.94 earnings per share for the current fiscal year.
In other news, VP Warren L. Troupe sold 40,000 shares of the stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $39.10, for a total value of $1,564,000.00. Following the transaction, the vice president now owns 549,634 shares of the company’s stock, valued at approximately $21,490,689.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jerry A. Davis sold 10,000 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $40.44, for a total value of $404,400.00. Following the completion of the transaction, the insider now directly owns 224,669 shares in the company, valued at approximately $9,085,614.36. The disclosure for this sale can be found here. In the last three months, insiders sold 114,773 shares of company stock worth $4,545,229. 3.16% of the stock is currently owned by company insiders.
A number of equities research analysts recently commented on the company. Stifel Nicolaus increased their price target on UDR from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Robert W. Baird restated a “buy” rating and set a $40.00 price target on shares of UDR in a research report on Thursday, August 16th. Royal Bank of Canada increased their price target on UDR from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Friday, August 10th. Citigroup increased their price target on UDR from $39.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, August 2nd. Finally, Jefferies Financial Group assumed coverage on UDR in a research report on Monday, June 11th. They set a “hold” rating and a $38.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $39.54.
UDR Company Profile
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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