Cantor Fitzgerald Has Lowered Expectations for United Dominion Realty Trust (NYSE:UDR) Stock Price

United Dominion Realty Trust (NYSE:UDR) had its target price reduced by equities research analysts at Cantor Fitzgerald from $41.00 to $39.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Cantor Fitzgerald‘s target price points to a potential upside of 6.57% from the company’s current price.

A number of other brokerages have also recently issued reports on UDR. Morgan Stanley lowered their target price 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. Jefferies Financial Group raised United Dominion Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. UBS Group reduced their price target on United Dominion Realty Trust from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Mizuho lowered their price objective on United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, September 8th. Finally, Barclays dropped their price objective on shares of United Dominion Realty Trust from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.97.

United Dominion Realty Trust Stock Performance

NYSE UDR opened at $36.59 on Monday. The firm’s fifty day moving average price is $34.93 and its two-hundred day moving average price is $36.80. The stock has a market cap of $11.60 billion, a PE ratio of 17.26, a PEG ratio of 8.00 and a beta of 0.70. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.44 and a current ratio of 3.44. United Dominion Realty Trust has a fifty-two week low of $33.10 and a fifty-two week high of $42.00.

United Dominion Realty Trust (NYSE:UDR) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter. United Dominion Realty Trust had a return on equity of 22.39% and a net margin of 40.75%. The company had revenue of $428.08 million during the quarter. On average, equities analysts expect that United Dominion Realty Trust will post 2.54 EPS for the current fiscal year.

Insider Activity

In related news, COO Michael Lacy sold 10,000 shares of United Dominion Realty Trust stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $36.48, for a total value of $364,800.00. Following the transaction, the chief operating officer directly owned 783 shares of the company’s stock, valued at $28,563.84. The trade was a 92.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.82% of the stock is owned by company insiders.

Institutional Trading of United Dominion Realty Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Addison Advisors LLC acquired a new stake in shares of United Dominion Realty Trust during the second quarter worth $58,000. Northwestern Mutual Wealth Management Co. bought a new stake in United Dominion Realty Trust during the second quarter valued at $75,000. Allworth Financial LP acquired a new stake in United Dominion Realty Trust during the 2nd quarter worth about $106,000. Westpac Banking Corp acquired a new stake in United Dominion Realty Trust during the 2nd quarter worth about $114,000. Finally, Global Retirement Partners LLC bought a new position in shares of United Dominion Realty Trust in the 2nd quarter worth about $187,000. Institutional investors and hedge funds own 97.82% of the company’s stock.

About United Dominion Realty Trust

UDR, Inc, formerly known as United Dominion Realty Trust, is a real estate investment trust focused on the ownership, development, acquisition and management of apartment communities in the United States. The company traces its history to 1972 and provides rental housing across a range of markets and communities.

UDR’s portfolio is concentrated in major coastal and Sun Belt markets, including areas such as New York, Boston, Washington, DC, Southern California, Seattle, Denver, Dallas, Austin, Nashville and South Florida.