Evercore ISI Cuts United Dominion Realty Trust (NYSE:UDR) Price Target to $44.00

United Dominion Realty Trust (NYSE:UDR) had its price target reduced by Evercore ISI from $45.00 to $44.00 in a research note published on Tuesday,Benzinga reports. Evercore ISI currently has an outperform rating on the real estate investment trust’s stock.

A number of other equities analysts also recently issued reports on UDR. Scotiabank dropped their price target on United Dominion Realty Trust from $51.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Friday, June 13th. Piper Sandler reiterated a “neutral” rating and set a $43.00 price target (down from $48.00) on shares of United Dominion Realty Trust in a research report on Monday, August 4th. Barclays boosted their price objective on United Dominion Realty Trust from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Royal Bank Of Canada boosted their price objective on United Dominion Realty Trust from $43.00 to $44.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 8th. Finally, Wall Street Zen lowered United Dominion Realty Trust from a “hold” rating to a “sell” rating in a research note on Saturday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, United Dominion Realty Trust presently has an average rating of “Hold” and an average price target of $45.29.

United Dominion Realty Trust Trading Up 0.9%

Shares of NYSE:UDR opened at $37.83 on Tuesday. United Dominion Realty Trust has a 12-month low of $36.61 and a 12-month high of $47.55. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 1.76. The company has a market cap of $12.53 billion, a PE ratio of 99.55, a price-to-earnings-growth ratio of 9.40 and a beta of 0.84. The stock has a 50 day moving average of $40.40 and a 200 day moving average of $41.67.

United Dominion Realty Trust (NYSE:UDR) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The business had revenue of $423.00 million for the quarter, compared to analysts’ expectations of $422.64 million. During the same period in the prior year, the firm earned $0.62 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that United Dominion Realty Trust will post 2.51 EPS for the current year.

United Dominion Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, July 10th. United Dominion Realty Trust’s dividend payout ratio (DPR) is presently 452.63%.

Institutional Trading of United Dominion Realty Trust

A number of hedge funds have recently added to or reduced their stakes in UDR. Vanguard Group Inc. lifted its holdings in shares of United Dominion Realty Trust by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 51,023,940 shares of the real estate investment trust’s stock valued at $2,304,751,000 after buying an additional 214,209 shares during the period. Capital Research Global Investors boosted its stake in United Dominion Realty Trust by 64.1% in the 4th quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust’s stock worth $566,940,000 after buying an additional 5,101,668 shares during the last quarter. Invesco Ltd. grew its position in United Dominion Realty Trust by 21.5% during the first quarter. Invesco Ltd. now owns 9,155,231 shares of the real estate investment trust’s stock valued at $413,542,000 after acquiring an additional 1,619,997 shares during the period. Northern Trust Corp grew its position in United Dominion Realty Trust by 0.7% during the first quarter. Northern Trust Corp now owns 4,886,672 shares of the real estate investment trust’s stock valued at $220,731,000 after acquiring an additional 32,693 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of United Dominion Realty Trust by 0.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,757,032 shares of the real estate investment trust’s stock worth $206,501,000 after buying an additional 44,599 shares during the period. 97.82% of the stock is owned by institutional investors and hedge funds.

About United Dominion Realty Trust

UDR, Inc (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S.