On March 29, 2023,
Wells Fargo
initiated coverage of UDR with
a Overweight recommendation.
Analyst Price Forecast Suggests 23.08% Upside
As of March 28, 2023,
the average one-year price target for UDR is $47.23.
The forecasts range from a low of $38.38 to a high of $54.60.
The average price target represents an increase of 23.08% from its latest reported closing price of $38.37.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for UDR
is $1,657MM, an increase of 8.85%.
The projected annual non-GAAP EPS
is $0.54.
UDR Declares $0.42 Dividend
On March 16, 2023 the company declared a regular
quarterly dividend of $0.42 per share ($1.68 annualized).
Shareholders of record as of April 10, 2023
will receive the payment on May 1, 2023.
Previously, the company paid $0.38 per share.
At the current share price of $38.37 / share,
the stock’s dividend yield is 4.38%.
Looking back five years and taking a sample every week, the average dividend yield has been
3.29%,
the lowest has been 2.42%,
and the highest has been 4.79%.
The standard deviation of yields is 0.50 (n=236).
The current dividend yield is
2.19 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 6.36.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.17%,
demonstrating that it has increased its dividend over time.
What are Large Shareholders Doing?
Cohen & Steers
holds 31,276K shares
representing 9.50% ownership of the company.
In it’s prior filing, the firm reported owning 36,572K shares, representing
a decrease
of 16.93%.
The firm
decreased
its portfolio allocation in UDR by 21.65% over the last quarter.
Norges Bank
holds 23,589K shares
representing 7.17% ownership of the company.
In it’s prior filing, the firm reported owning 0K shares, representing
an increase
of 100.00%.
VGSIX – Vanguard Real Estate Index Fund Investor Shares
holds 14,437K shares
representing 4.39% ownership of the company.
In it’s prior filing, the firm reported owning 14,596K shares, representing
a decrease
of 1.10%.
The firm
decreased
its portfolio allocation in UDR by 2.15% over the last quarter.
Jpmorgan Chase &
holds 10,461K shares
representing 3.18% ownership of the company.
No change in the last quarter.
Invesco
holds 10,271K shares
representing 3.12% ownership of the company.
In it’s prior filing, the firm reported owning 12,493K shares, representing
a decrease
of 21.63%.
The firm
decreased
its portfolio allocation in UDR by 99.99% over the last quarter.
What is the Fund Sentiment?
There are 1076 funds or institutions reporting positions in UDR.
This is a decrease
of
17
owner(s) or 1.56% in the last quarter.
Average portfolio weight of all funds dedicated to UDR is 0.38%,
an increase
of 0.70%.
Total shares owned by institutions increased
in the last three months by 0.06% to 362,552K shares.
The put/call ratio of UDR is 1.16, indicating a
bearish
outlook.
UDR Background Information
(This description is provided by the company.)
UDR, Inc., 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. markets. As of September 30, 2020, UDR owned or had an ownership position in 51,649 apartment homes including 1,031 homes under development. For over 48 years, UDR has delivered long-term value to shareholders, the best standard of service to residents and the highest quality experience for associates.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
