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

United Dominion Realty Trust (NYSE:UDR) released its quarterly earnings results on Monday. The real estate investment trust reported $0.67 EPS for the quarter, beating the consensus estimate of $0.64 by $0.03, Zacks reports. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.31%. The business had revenue of $430.37 million for the quarter, compared to analysts’ expectations of $424.58 million. During the same period in the prior year, the firm earned $0.56 earnings per share. United Dominion Realty Trust’s revenue was down .9% compared to the same quarter last year.

United Dominion Realty Trust Stock Performance

UDR stock opened at $36.59 on Friday. United Dominion Realty Trust has a twelve month low of $33.10 and a twelve month high of $42.00. The company has a market cap of $11.76 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 7.85 and a beta of 0.70. The company has a quick ratio of 4.22, a current ratio of 4.22 and a debt-to-equity ratio of 2.01. The business’s fifty day moving average is $34.93 and its 200-day moving average is $36.80.

United Dominion Realty Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a dividend of $0.1450 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.74 dividend on an annualized basis and a yield of 4.8%. United Dominion Realty Trust’s dividend payout ratio is 82.08%.

Insider Buying and Selling

In related news, COO Michael Lacy sold 10,000 shares of the business’s 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 completion of the sale, the chief operating officer directly owned 783 shares in the company, valued at approximately $28,563.84. The trade was a 92.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.82% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UDR shares. Evercore set a $41.00 price objective on shares of United Dominion Realty Trust in a report on Monday, September 21st. Wells Fargo & Company cut their price target on United Dominion Realty Trust from $43.00 to $39.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. JPMorgan Chase & Co. lifted their price target on shares of United Dominion Realty Trust from $39.00 to $41.00 and gave the company an “underweight” rating in a research note on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $44.00 target price on shares of United Dominion Realty Trust in a research report on Friday, August 14th. Finally, Scotiabank dropped their target price on United Dominion Realty Trust from $41.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, September 17th. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Dominion Realty Trust currently has an average rating of “Hold” and an average price target of $40.10.

United Dominion Realty Trust Company Profile

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.