Zacks: Analysts Anticipate UDR, Inc. (UDR) Will Post Earnings of $0.48 Per Share

Equities analysts predict that UDR, Inc. (NYSE:UDR) will report earnings per share of $0.48 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for UDR’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.48. UDR reported earnings of $0.47 per share during the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The business is expected to report its next quarterly earnings report on Monday, October 29th.

On average, analysts expect that UDR will report full-year earnings of $1.94 per share for the current fiscal year, with EPS estimates ranging from $1.92 to $1.95. For the next fiscal year, analysts anticipate that the business will post earnings of $2.05 per share, with EPS estimates ranging from $2.00 to $2.08. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover UDR.

UDR (NYSE:UDR) last released its earnings results on Monday, July 30th. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. UDR had a return on equity of 6.87% and a net margin of 18.47%. The company had revenue of $259.74 million for the quarter, compared to analysts’ expectations of $253.59 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis.

Several brokerages have recently commented on UDR. Bank of America boosted their price target on UDR from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, June 8th. Royal Bank of Canada boosted their price target on UDR from $39.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Friday, August 10th. ValuEngine lowered UDR from a “hold” rating to a “sell” rating in a research note on Monday, June 18th. Robert W. Baird reissued a “buy” rating and set a $40.00 price target on shares of UDR in a research note on Thursday, August 16th. Finally, Stifel Nicolaus raised UDR from a “hold” rating to a “buy” rating and boosted their price target for the stock from $38.00 to $40.00 in a research note on Thursday, May 31st. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $39.54.

In related news, CEO Thomas W. Toomey sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $39.80, for a total value of $1,592,000.00. Following the sale, the chief executive officer now owns 1,768,753 shares of the company’s stock, valued at approximately $70,396,369.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Harry G. Alcock sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $40.45, for a total value of $404,500.00. Following the completion of the sale, the senior vice president now directly owns 126,123 shares in the company, valued at approximately $5,101,675.35. The disclosure for this sale can be found here. Insiders have sold a total of 104,773 shares of company stock worth $4,140,829 in the last three months. Corporate insiders own 3.16% of the company’s stock.

A number of hedge funds have recently bought and sold shares of UDR. BlackRock Inc. lifted its stake in shares of UDR by 0.4% during the 2nd quarter. BlackRock Inc. now owns 29,851,798 shares of the real estate investment trust’s stock worth $1,120,637,000 after purchasing an additional 117,703 shares during the period. FMR LLC lifted its stake in shares of UDR by 3.4% during the 2nd quarter. FMR LLC now owns 16,025,171 shares of the real estate investment trust’s stock worth $601,586,000 after purchasing an additional 528,079 shares during the period. Renaissance Technologies LLC lifted its stake in shares of UDR by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 8,358,300 shares of the real estate investment trust’s stock worth $313,771,000 after purchasing an additional 390,700 shares during the period. Northern Trust Corp lifted its stake in shares of UDR by 1.5% during the 1st quarter. Northern Trust Corp now owns 4,544,072 shares of the real estate investment trust’s stock worth $161,860,000 after purchasing an additional 67,840 shares during the period. Finally, Centersquare Investment Management LLC lifted its stake in shares of UDR by 3.9% during the 2nd quarter. Centersquare Investment Management LLC now owns 4,422,408 shares of the real estate investment trust’s stock worth $166,018,000 after purchasing an additional 164,250 shares during the period. 95.23% of the stock is currently owned by hedge funds and other institutional investors.

NYSE UDR traded up $0.42 on Friday, hitting $40.02. 77,433 shares of the company’s stock were exchanged, compared to its average volume of 1,449,352. The company has a current ratio of 6.03, a quick ratio of 6.03 and a debt-to-equity ratio of 1.38. UDR has a fifty-two week low of $32.88 and a fifty-two week high of $41.04. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 3.39 and a beta of 0.34.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be paid a dividend of $0.3323 per share. This is a positive change from UDR’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $1.33 annualized dividend and a dividend yield of 3.32%. UDR’s payout ratio is 68.98%.

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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Earnings History and Estimates for UDR (NYSE:UDR)

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