Although the revenue and EPS for UDR (UDR) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
UDR (UDR) came out with quarterly funds from operations (FFO) of $0.63 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.63 per share a year ago.
UDR's Q4 earnings are likely to have gained from portfolio diversification and technological initiatives, though high supply may have acted as a dampener.
UDR, Inc. is a well-diversified multifamily REIT with exposure to both Tier 1 coastal and high-growth Sunbelt markets. It has steady occupancy and favorable rent-to-income ratios. Persistent high mortgage rates make renting more attractive, positioning UDR to benefit from robust tenant demand and lower new supply, supporting long-term value and income growth. UDR's moderate valuation supports the potential for 9-10% total annual returns through dividends and FFO/share growth, making it a solid investment candidate.
A diverse portfolio with superior A/B quality properties in urban/suburban markets, a healthy balance sheet and technological moves support UDR's performance.
UDR (UDR) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
UDR, Inc. (NYSE:UDR ) Q3 2024 Results Conference Call October 31, 2024 1:00 PM ET Company Participants Trent Trujillo - VP, IR Tom Toomey - Chairman and CEO Joe Fisher - President and CFO Mike Lacy - SVP, Operations Andrew Cantor - Senior Officer Chris Van Ens - Senior Officer Conference Call Participants Jamie Feldman - Wells Fargo Austin Wurschmidt - KeyBanc Capital Markets Eric Wolfe - Citi Josh Dennerlein - Bank of America Nick Yulico - Scotiabank Rich Anderson - Wedbush John Kim - BMO Capital Markets Michael Goldsmith - UBS Adam Kramer - Morgan Stanley Alexander Goldfarb - Piper Sandler John Pawlowski - Green Street Alexander Kalmus - Zelman & Associates Linda Tsai - Jefferies Operator Greetings, and welcome to UDR's Third Quarter 2024 Earnings Call. [Operator Instructions] As a reminder, this conference call is being recorded.
UDR's Q3 results reflect an increase in revenues from same-store communities in a resilient labor market despite high levels of new supply.
While the top- and bottom-line numbers for UDR (UDR) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
UDR (UDR) came out with quarterly funds from operations (FFO) of $0.62 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.63 per share a year ago.
Evaluate the expected performance of UDR (UDR) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
UDR (UDR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.