United Dominion Realty Trust (NYSE:UDR) Issues Earnings Results

United Dominion Realty Trust (NYSE:UDR) posted its earnings results on Monday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01, Zacks reports. The firm had revenue of $430.37 million during the quarter, compared to analysts’ expectations of $427.85 million. United Dominion Realty Trust had a return on equity of 16.56% and a net margin of 30.43%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.56 earnings per share.

United Dominion Realty Trust Stock Up 1.3%

NYSE UDR traded up $0.46 during trading hours on Monday, hitting $35.98. 5,119,820 shares of the company traded hands, compared to its average volume of 4,346,398. The company has a debt-to-equity ratio of 2.01, a quick ratio of 4.22 and a current ratio of 4.22. The business’s 50-day moving average is $35.03 and its 200-day moving average is $36.81. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 7.59 and a beta of 0.72. United Dominion Realty Trust has a twelve month low of $32.94 and a twelve month high of $42.00.

United Dominion Realty Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a $0.1450 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.8%. United Dominion Realty Trust’s payout ratio is currently 110.83%.

Analysts Set New Price Targets

A number of research firms recently issued reports on UDR. Morgan Stanley decreased their price objective on United Dominion Realty Trust from $44.50 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Evercore set a $41.00 target price on United Dominion Realty Trust in a research report on Monday, September 21st. Truist Financial cut United Dominion Realty Trust from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a research note on Wednesday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 price target on shares of United Dominion Realty Trust in a research report on Friday, August 14th. Finally, UBS Group decreased their price target on shares of United Dominion Realty Trust from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $40.03.

About United Dominion Realty Trust

United Dominion Realty Trust, Inc (NYSE: UDR) is a real estate investment trust that owns, operates, acquires and develops multifamily apartment communities. The company generates revenue primarily by leasing apartments and related residential units to individuals and households.

UDR’s portfolio includes conventional apartment communities as well as residential properties with amenities and services designed to support renter convenience and engagement. Its operations encompass property management, resident services, renovations, development and strategic acquisitions.

Founded in 1972, UDR has grown into a multifamily housing owner and operator serving selected markets across the United States.