UDR, Inc. UDR, the Highlands Ranch, CO-based residential real estate investment trust (“REIT”), announced a regular quarterly common dividend of 27.75 cents per share, marking an increase of nearly 7% from the prior-quarter figure. This cash dividend will be paid on Apr 30, 2015, to shareholders of record as of Apr 16, 2015.
UDR continues to focus on strategic priorities such as disciplined capital allocation, strong balance sheet position as well as cash flow enhancement to support dividend growth and operational efficiency. We believe that the company’s robust operating platform and efficient management team will help it execute its strategic priorities, driving net asset value as well as dividend growth. In fact, the first-quarter 2015 dividend payment will mark the company’s 170th consecutive quarterly dividend payment on its common stock.
Notably, on Feb 2, 2015, UDR announced the annualized dividend per share of $1.11 for 2015, increasing around 7% from $1.04 a share paid in 2014. In all the quarters of 2014, UDR paid a quarterly dividend of 26 cents a share, implying a total dividend payment of $1.04 for full-year 2014, an 11% rise over the dividend payment in 2013.
UDR is a leading multi-family REIT with a proven record of delivering superior returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. The latest dividend hike is in sync with the company’s strategy to reward its shareholders and deliver long-term value for them.
Currently, UDR carries a Zacks Rank #3 (Hold).
Investors interested in the residential REIT industry may consider stocks like Silver Bay Realty Trust Corp. SBY, Equity Residential EQR and Post Properties Inc. PPS. While Silver Bay Realty Trust sports a Zacks Rank #1 (Strong Buy), both Equity Residential and Post Properties hold a Zacks Rank #2 (Buy).
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