UDR Inc. (UDR) Issues FY16 Earnings Guidance

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UDR Inc. (NYSE:UDR) updated its FY16 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.77-1.80 for the period, compared to the Thomson Reuters consensus estimate of $1.78. UDR also updated its Q3 guidance to $0.44-0.46 EPS.
Several equities analysts have weighed in on the company. BTIG Research assumed coverage on UDR in a report on Thursday, August 25th. They set a buy rating and a $42.00 target price on the stock. Zacks Investment Research upgraded UDR from a sell rating to a hold rating in a report on Friday, August 5th. Citigroup raised their target price on UDR from $37.00 to $38.00 and gave the company a neutral rating in a report on Tuesday, August 2nd. Mizuho upgraded UDR from a neutral rating to a buy rating and raised their target price for the company from $37.00 to $41.00 in a report on Monday, August 1st. Finally, Cantor Fitzgerald restated a buy rating and set a $39.50 target price on shares of UDR in a report on Monday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $38.50.
UDR Inc. (NYSE:UDR) opened at 36.75 on Thursday. The firm has a market capitalization of $9.81 billion and a P/E ratio of 47.18. The stock’s 50 day moving average is $36.63 and its 200-day moving average is $36.22. UDR Inc. has a 1-year low of $31.05 and a 1-year high of $38.61.

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UDR (NYSE:UDR) last issued its quarterly earnings results on Tuesday, July 26th. The real estate investment trust reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The business had revenue of $238.79 million for the quarter, compared to analyst estimates of $235.77 million. During the same quarter last year, the firm posted $0.41 EPS. UDR’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts forecast that UDR Inc. will post $1.78 EPS for the current year.
In other UDR news, Director Clinton D. Mcdonnough purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, August 24th. The shares were bought at an average price of $35.65 per share, for a total transaction of $71,300.00. Following the completion of the acquisition, the director now owns 4,000 shares in the company, valued at $142,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Harry G. Alcock sold 7,500 shares of UDR stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $36.97, for a total transaction of $277,275.00. Following the transaction, the senior vice president now owns 120,145 shares in the company, valued at approximately $4,441,760.65. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
UDR, Inc is a real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops and manages multifamily apartment communities generally located in various markets across the United States. The Company operates through two segments: Same-Store Communities and Non-Mature Communities/Other.

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