United Dominion Realty Trust (NYSE:UDR) Price Target Raised to $38.00

United Dominion Realty Trust (NYSE:UDR) had its price objective lifted by Royal Bank Of Canada from $37.00 to $38.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of United Dominion Realty Trust from $44.50 to $42.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Wells Fargo & Company cut their price objective on shares of United Dominion Realty Trust from $43.00 to $39.00 and set an “overweight” rating on the stock in a report on Monday, October 19th. Jefferies Financial Group raised shares of United Dominion Realty Trust to a “strong-buy” rating in a research note on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $44.00 target price on shares of United Dominion Realty Trust in a report on Friday, August 14th. Finally, Mizuho dropped their target price on United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.10.

United Dominion Realty Trust Stock Down 1.1%

Shares of UDR traded down $0.42 during midday trading on Wednesday, reaching $36.59. 4,790,736 shares of the stock were exchanged, compared to its average volume of 4,581,494. The company has a market capitalization of $11.76 billion, a P/E ratio of 17.26, a PEG ratio of 7.85 and a beta of 0.70. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.01. United Dominion Realty Trust has a 52 week low of $33.10 and a 52 week high of $42.00. The company’s 50 day moving average is $34.93 and its two-hundred day moving average is $36.80.

United Dominion Realty Trust (NYSE:UDR) last released its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share for the quarter. United Dominion Realty Trust had a return on equity of 22.31% and a net margin of 40.75%. The firm had revenue of $428.08 million during the quarter. On average, sell-side analysts anticipate that United Dominion Realty Trust will post 2.54 earnings per share for the current year.

United Dominion Realty Trust Announces Dividend

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

Insider Buying and Selling at United Dominion Realty Trust

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Addison Advisors LLC acquired a new stake in United Dominion Realty Trust in the second quarter valued at approximately $58,000. Northwestern Mutual Wealth Management Co. purchased a new position in United Dominion Realty Trust in the second quarter worth $75,000. Allworth Financial LP purchased a new position in United Dominion Realty Trust in the second quarter worth $106,000. Westpac Banking Corp acquired a new position in shares of United Dominion Realty Trust during the second quarter worth $114,000. Finally, Global Retirement Partners LLC acquired a new position in shares of United Dominion Realty Trust during the second quarter worth $187,000. Institutional investors own 97.82% of the company’s stock.

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.