4 Reasons Why You Should Add UDR Stock To Your Portfolio Now
Zacks Investment Research | May 13, 2019 07:59AM ET
It seems to be a wise decision to add UDR, Inc. (NYSE:UDR) to your portfolio now, given its continued efforts to expand in strategic markets on the back of acquisitions and developments efforts. Moreover, amid stable economy, job growth and rising wages, the increase in household formation will likely accelerate demand for rental housing in UDR’s markets.
Recently, UDR posted first-quarter 2019 FFO per share of 51 cents, outpacing the Zacks Consensus Estimate by a whisker. The figure came in higher than the prior-year quarter reported tally of 47 cents. The beat was aided by year-over-year growth in revenues from rental income and same-store net operating income (NOI).
The company's price performance also seems impressive. In fact, this Zacks Rank #2 (Buy) stock has gained around 23.1% over the past year, outperforming 18.4% growth recorded by the Zacks Investment Research
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