Earnings Preview: UDR Inc.

Aug. 4.08 | About: UDR, Inc. (UDR)

UDR (NYSE:UDR), a REIT, is expected to report Q2 earnings after market close Monday, Aug. 4, with a conference call scheduled for Tuesday, August 5 at 1:00 pm ET.


Analysts are looking for EPS of 36c on revenue of $129.05M. The consensus range for EPS is 33c to 38c, while the consensus range for revenue is $120.28M to $139.7M, according to First Call.

Analyst Views

Research firms have had mixed outlooks on UDR in recent weeks. RBC downgraded UDR to Sector Perform from Outperform recently, citing concerns that the REIT will not meet its 2008 operating FFO guidance. The firm lowered their target to $26 from $28. On July 24, Lehman Brothers initiated UDR with an Equal Weight rating. On a more optimistic note, Stifel on July 8 upgraded UDR to Buy from Hold. The firm cited the stock's valuation as well as the relative newness of the company's properties as reasons for the upgrade. The firm believes that the $2.6B in UDR's development pipeline will deliver attractive returns in 2010-2011 due to the overall decline in new housing starts recently. Stifel set a target of $26 for the shares.