UDR, Inc. (NYSE:UDR) Expected to Post Quarterly Sales of $318.10 Million

Wall Street analysts expect that UDR, Inc. (NYSE:UDR) will report $318.10 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for UDR’s earnings, with the lowest sales estimate coming in at $309.21 million and the highest estimate coming in at $328.60 million. UDR reported sales of $310.04 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that UDR will report full year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.21 billion to $1.27 billion. For the next financial year, analysts forecast that the company will post sales of $1.33 billion, with estimates ranging from $1.25 billion to $1.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for UDR.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, July 28th. The real estate investment trust reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.45). UDR had a net margin of 1.31% and a return on equity of 1.40%.

A number of equities analysts recently weighed in on the company. KeyCorp upped their price target on UDR from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, July 15th. Truist Securities upped their price target on UDR from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Wednesday, August 18th. Wells Fargo & Company upped their price target on UDR from $53.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 26th. Truist boosted their price objective on shares of UDR from $52.00 to $55.00 and gave the company a “hold” rating in a report on Wednesday, August 18th. They noted that the move was a valuation call. Finally, BTIG Research upgraded shares of UDR from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, September 13th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $51.25.

In related news, Director Clinton D. Mcdonnough sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $55.54, for a total transaction of $277,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas W. Toomey sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $55.71, for a total transaction of $3,342,600.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,000 shares of company stock worth $7,186,450. 2.69% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Sowell Financial Services LLC boosted its stake in shares of UDR by 422.7% in the first quarter. Sowell Financial Services LLC now owns 784 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 634 shares during the period. Credit Agricole S A acquired a new stake in UDR during the second quarter valued at approximately $39,000. Evermay Wealth Management LLC acquired a new stake in UDR during the second quarter valued at approximately $39,000. Berman Capital Advisors LLC raised its stake in UDR by 727.4% during the first quarter. Berman Capital Advisors LLC now owns 935 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 822 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in UDR by 37.3% during the first quarter. Rockefeller Capital Management L.P. now owns 1,469 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 399 shares in the last quarter.

Shares of UDR stock traded up $0.50 on Friday, hitting $53.64. The company had a trading volume of 24,893 shares, compared to its average volume of 1,903,575. The firm has a market cap of $15.92 billion, a P/E ratio of 1,063.01, a price-to-earnings-growth ratio of 5.90 and a beta of 0.75. The company has a 50-day moving average price of $53.83 and a 200-day moving average price of $49.22. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 1.98. UDR has a twelve month low of $29.34 and a twelve month high of $56.31.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Monday, October 11th will be given a dividend of $0.3625 per share. The ex-dividend date is Thursday, October 7th. This represents a $1.45 annualized dividend and a dividend yield of 2.70%. UDR’s payout ratio is currently 71.08%.

About UDR

UDR, Inc is a real estate investment trust, which owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities. It engages in the multi-family real estate investment trust business. It operates through the Same-Store Communities and Non-Mature Communities/Other segments.

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