UDR, Inc. (NYSE:UDR) Plans $0.43 Quarterly Dividend

UDR, Inc. (NYSE:UDR) announced a quarterly dividend on Thursday, December 19th,RTT News reports. Shareholders of record on Thursday, January 9th will be given a dividend of 0.425 per share by the real estate investment trust on Friday, January 31st. This represents a $1.70 dividend on an annualized basis and a yield of 4.01%.

UDR has increased its dividend payment by an average of 4.9% annually over the last three years and has increased its dividend every year for the last 14 years. UDR has a dividend payout ratio of 361.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect UDR to earn $2.53 per share next year, which means the company should continue to be able to cover its $1.70 annual dividend with an expected future payout ratio of 67.2%.

UDR Stock Down 1.2 %

NYSE UDR traded down $0.53 during midday trading on Thursday, hitting $42.42. 2,488,798 shares of the company traded hands, compared to its average volume of 2,427,881. The company has a market cap of $14.00 billion, a PE ratio of 114.65, a price-to-earnings-growth ratio of 12.34 and a beta of 0.87. The company has a debt-to-equity ratio of 1.69, a current ratio of 5.91 and a quick ratio of 5.91. UDR has a 52 week low of $34.19 and a 52 week high of $47.55. The company’s 50-day simple moving average is $44.36 and its 200-day simple moving average is $43.08.

Analyst Ratings Changes

Several research firms have commented on UDR. Scotiabank decreased their price target on shares of UDR from $49.00 to $48.00 and set a “sector perform” rating for the company in a research report on Thursday, November 14th. Truist Financial upped their price target on UDR from $44.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 26th. UBS Group raised their price objective on UDR from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on UDR from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. Finally, The Goldman Sachs Group initiated coverage on shares of UDR in a research report on Wednesday, September 4th. They issued a “sell” rating and a $42.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $46.00.

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.