Upbound Group, Inc. (UPBD) to Issue Quarterly Dividend of $0.39 on April 22nd

Upbound Group, Inc. (NASDAQ:UPBD) declared a quarterly dividend on Friday, March 21st, RTT News reports. Stockholders of record on Wednesday, April 2nd will be given a dividend of 0.39 per share on Tuesday, April 22nd. This represents a $1.56 annualized dividend and a dividend yield of 6.29%.

Upbound Group has increased its dividend payment by an average of 5.7% per year over the last three years. Upbound Group has a payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Upbound Group to earn $4.98 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 31.3%.

Upbound Group Price Performance

NASDAQ UPBD opened at $24.81 on Friday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 11.23 and a beta of 2.01. The company has a debt-to-equity ratio of 2.08, a current ratio of 3.66 and a quick ratio of 0.86. The stock’s fifty day moving average price is $27.70 and its 200 day moving average price is $29.78. Upbound Group has a 1 year low of $23.35 and a 1 year high of $38.72.

Upbound Group (NASDAQ:UPBD) last announced its quarterly earnings data on Thursday, February 20th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.02. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Upbound Group had a return on equity of 35.47% and a net margin of 2.86%. As a group, equities research analysts forecast that Upbound Group will post 4.28 earnings per share for the current year.

Wall Street Analyst Weigh In

UPBD has been the topic of a number of research reports. Loop Capital cut their price objective on shares of Upbound Group from $33.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. TD Cowen raised shares of Upbound Group to a “strong-buy” rating in a research note on Friday, November 29th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Insider Buying and Selling

In related news, Director Jeffrey J. Brown acquired 1,146 shares of Upbound Group stock in a transaction on Tuesday, January 7th. The stock was bought at an average cost of $29.01 per share, for a total transaction of $33,245.46. Following the completion of the transaction, the director now owns 86,380 shares of the company’s stock, valued at approximately $2,505,883.80. The trade was a 1.34 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Fahmi Karam acquired 11,500 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $25.82 per share, for a total transaction of $296,930.00. Following the completion of the acquisition, the chief financial officer now owns 164,672 shares of the company’s stock, valued at approximately $4,251,831.04. This represents a 7.51 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.70% of the stock is currently owned by insiders.

About Upbound Group

Upbound Group, Inc leases household durable goods to customers on a lease-to-own basis in the United States, Puerto Rico, and Mexico. It operates through four segments: Rent-A-Center, Acima, Mexico, and Franchising. The company's brands, such as Rent-A-Center and Acima that facilitate consumer transactions across a range of store-based and virtual channels.