UDR, Inc. (NYSE:UDR) to Issue Dividend Increase - $0.43 Per Share

UDR, Inc. (NYSE:UDR - Get Free Report) announced a quarterly dividend on Thursday, March 13th, RTT News reports. Stockholders of record on Thursday, April 10th will be paid a dividend of 0.43 per share by the real estate investment trust on Wednesday, April 30th. This represents a $1.72 annualized dividend and a dividend yield of 3.92%. The ex-dividend date is Thursday, April 10th. This is a 1.2% increase from UDR's previous quarterly dividend of $0.43.

UDR has increased its dividend payment by an average of 5.5% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. UDR has a payout ratio of 269.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect UDR to earn $2.61 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 65.1%.

UDR Price Performance

NYSE:UDR traded up $0.58 during mid-day trading on Monday, hitting $43.88. 1,622,024 shares of the stock traded hands, compared to its average volume of 2,047,092. UDR has a 12-month low of $35.14 and a 12-month high of $47.55. The company has a quick ratio of 5.91, a current ratio of 5.61 and a debt-to-equity ratio of 1.71. The company has a market cap of $14.53 billion, a PE ratio of 175.50, a price-to-earnings-growth ratio of 8.67 and a beta of 0.88. The business's 50-day moving average price is $42.49 and its 200 day moving average price is $43.80.

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UDR (NYSE:UDR - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, analysts expect that UDR will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on UDR shares. StockNews.com raised shares of UDR from a "sell" rating to a "hold" rating in a report on Thursday, February 6th. Evercore ISI raised their price objective on UDR from $43.00 to $45.00 and gave the company an "in-line" rating in a report on Monday, February 10th. Truist Financial cut shares of UDR from a "buy" rating to a "hold" rating and increased their price target for the company from $45.00 to $46.00 in a research report on Monday, March 10th. Royal Bank of Canada boosted their price objective on shares of UDR from $43.00 to $44.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. Finally, Barclays decreased their target price on shares of UDR from $50.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $46.12.

Insider Buying and Selling

In other news, CEO Thomas W. Toomey sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $42.75, for a total value of $1,068,750.00. Following the sale, the chief executive officer now directly owns 824,716 shares of the company's stock, valued at $35,256,609. The trade was a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.73% of the stock is owned by company insiders.

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 communities in targeted U.S.