Wall Street analysts forecast that UDR, Inc. (NYSE:UDR) will post sales of $250.85 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for UDR’s earnings, with the lowest sales estimate coming in at $249.38 million and the highest estimate coming in at $252.17 million. UDR posted sales of $243.01 million during the same quarter last year, which suggests a positive year over year growth rate of 3.2%. The business is expected to announce its next earnings report on Monday, January 29th.
According to Zacks, analysts expect that UDR will report full year sales of $250.85 million for the current financial year, with estimates ranging from $982.46 million to $995.05 million. For the next financial year, analysts anticipate that the business will report sales of $1.03 billion per share, with estimates ranging from $1.01 billion to $1.05 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for UDR.
UDR has been the subject of several recent research reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $41.00 price target on shares of UDR in a report on Friday, September 1st. Royal Bank of Canada raised their target price on UDR from $39.00 to $40.00 and gave the company a “sector perform” rating in a report on Wednesday, November 8th. Mizuho reissued a “buy” rating and issued a $43.00 target price on shares of UDR in a report on Monday, November 6th. SunTrust Banks downgraded UDR from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a report on Wednesday, November 29th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $41.00 target price on shares of UDR in a report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. UDR currently has a consensus rating of “Hold” and a consensus price target of $40.38.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date is Tuesday, January 9th. UDR’s dividend payout ratio is currently 400.00%.
In other news, VP Warren L. Troupe sold 30,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.93, for a total value of $1,137,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas W. Toomey sold 20,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $39.20, for a total value of $784,000.00. Following the completion of the transaction, the chief executive officer now owns 1,127,925 shares of the company’s stock, valued at approximately $44,214,660. The disclosure for this sale can be found here. Company insiders own 3.07% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. WESCAP Management Group Inc. increased its position in shares of UDR by 55.1% in the third quarter. WESCAP Management Group Inc. now owns 10,949 shares of the real estate investment trust’s stock valued at $416,000 after buying an additional 3,890 shares in the last quarter. Norinchukin Bank The increased its position in shares of UDR by 7.3% in the third quarter. Norinchukin Bank The now owns 19,915 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 1,360 shares in the last quarter. ING Groep NV increased its position in UDR by 69.1% during the 3rd quarter. ING Groep NV now owns 23,124 shares of the real estate investment trust’s stock worth $879,000 after purchasing an additional 9,448 shares in the last quarter. Quantitative Investment Management LLC increased its position in UDR by 429.7% during the 2nd quarter. Quantitative Investment Management LLC now owns 151,500 shares of the real estate investment trust’s stock worth $5,903,000 after purchasing an additional 122,900 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its position in UDR by 10.4% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 356,028 shares of the real estate investment trust’s stock worth $13,540,000 after purchasing an additional 33,449 shares in the last quarter. Institutional investors and hedge funds own 96.52% of the company’s stock.
UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for UDR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UDR and related companies with MarketBeat.com's FREE daily email newsletter.