Zacks Research Forecasts UDR’s FY2024 Earnings (NYSE:UDR)

UDR, Inc. (NYSE:UDR) – Equities researchers at Zacks Research upped their FY2024 earnings estimates for shares of UDR in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst R. Department now forecasts that the real estate investment trust will post earnings per share of $2.48 for the year, up from their prior forecast of $2.46. The consensus estimate for UDR’s current full-year earnings is $2.47 per share. Zacks Research also issued estimates for UDR’s Q4 2024 earnings at $0.63 EPS, Q1 2025 earnings at $0.61 EPS, Q2 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.64 EPS, FY2025 earnings at $2.51 EPS and Q3 2026 earnings at $0.67 EPS.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of UDR from $40.00 to $44.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price target on shares of UDR from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. Scotiabank dropped their price objective on shares of UDR from $49.00 to $48.00 and set a “sector perform” rating on the stock in a report on Thursday, November 14th. BNP Paribas started coverage on UDR in a research report on Wednesday, September 11th. They set an “outperform” rating and a $49.00 price target on the stock. Finally, StockNews.com cut UDR from a “hold” rating to a “sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $45.18.

UDR Stock Performance

Shares of UDR stock opened at $45.09 on Friday. The company has a market cap of $14.88 billion, a price-to-earnings ratio of 121.11, a price-to-earnings-growth ratio of 12.35 and a beta of 0.85. UDR has a 52 week low of $32.85 and a 52 week high of $47.55. 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 50 day moving average of $44.54 and a 200-day moving average of $42.26.

UDR Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, October 10th. UDR’s dividend payout ratio (DPR) is 459.47%.

Hedge Funds Weigh In On UDR

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of UDR by 2,250.3% in the first quarter. Bessemer Group Inc. now owns 37,416 shares of the real estate investment trust’s stock valued at $1,399,000 after buying an additional 35,824 shares in the last quarter. Natixis increased its position in UDR by 22.0% in the 1st quarter. Natixis now owns 33,071 shares of the real estate investment trust’s stock valued at $1,237,000 after acquiring an additional 5,966 shares during the period. Capital Research Global Investors acquired a new position in UDR during the 1st quarter worth approximately $176,137,000. Canada Pension Plan Investment Board increased its position in UDR by 2.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,906,297 shares of the real estate investment trust’s stock worth $108,725,000 after purchasing an additional 76,000 shares during the period. Finally, Magnetar Financial LLC purchased a new position in UDR in the 1st quarter valued at approximately $301,000. Hedge funds and other institutional investors own 97.84% of the company’s stock.

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.