Wedbush Research Analysts Cut Earnings Estimates for UDR

UDR, Inc. (NYSE:UDR - Free Report) - Investment analysts at Wedbush cut their FY2024 EPS estimates for UDR in a research report issued on Wednesday, November 6th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will post earnings of $2.48 per share for the year, down from their prior estimate of $2.49. Wedbush has a "Outperform" rating and a $49.00 price objective on the stock. The consensus estimate for UDR's current full-year earnings is $2.48 per share. Wedbush also issued estimates for UDR's FY2025 earnings at $2.54 EPS.

Other research analysts have also issued research reports about the company. Truist Financial boosted their target price on UDR from $44.00 to $47.00 and gave the company a "buy" rating in a report on Monday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of UDR from $43.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, September 16th. UBS Group lifted their target price on shares of UDR from $48.00 to $52.00 and gave the company a "buy" rating in a report on Thursday, September 12th. Piper Sandler increased their price target on shares of UDR from $40.00 to $46.00 and gave the stock a "neutral" rating in a report on Monday, August 26th. Finally, Royal Bank of Canada lowered their price objective on UDR from $46.00 to $45.00 and set a "sector perform" rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $45.24.

UDR Stock Performance

UDR stock traded up $0.99 during trading on Friday, hitting $44.53. The company had a trading volume of 1,625,589 shares, compared to its average volume of 2,509,659. The firm has a 50-day moving average price of $44.62 and a 200-day moving average price of $41.79. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 1.69. The firm has a market cap of $14.69 billion, a PE ratio of 120.25, a price-to-earnings-growth ratio of 9.45 and a beta of 0.85. UDR has a 1-year low of $31.87 and a 1-year high of $47.55.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in UDR by 10.0% during the third quarter. CWM LLC now owns 3,802 shares of the real estate investment trust's stock worth $172,000 after buying an additional 347 shares in the last quarter. Empowered Funds LLC raised its stake in UDR by 7.1% in the 3rd quarter. Empowered Funds LLC now owns 5,246 shares of the real estate investment trust's stock valued at $238,000 after purchasing an additional 350 shares during the last quarter. Mather Group LLC. lifted its holdings in UDR by 58.2% in the 3rd quarter. Mather Group LLC. now owns 998 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 367 shares in the last quarter. Truist Financial Corp boosted its stake in shares of UDR by 0.6% during the 2nd quarter. Truist Financial Corp now owns 66,673 shares of the real estate investment trust's stock worth $2,744,000 after purchasing an additional 414 shares during the last quarter. Finally, TCV Trust & Wealth Management Inc. grew its holdings in shares of UDR by 8.2% during the third quarter. TCV Trust & Wealth Management Inc. now owns 5,589 shares of the real estate investment trust's stock worth $253,000 after buying an additional 424 shares in the last quarter. 97.84% of the stock is currently owned by institutional investors and hedge funds.

UDR Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a $0.425 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $1.70 annualized dividend and a dividend yield of 3.82%. UDR's dividend payout ratio is presently 459.47%.

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.