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

United Dominion Realty Trust (NYSE:UDR) had its price objective lowered by Scotiabank from $41.00 to $38.00 in a report published on Thursday,Benzinga reports. The firm currently has a sector perform rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the company. The Goldman Sachs Group restated a “sell” rating and issued a $38.00 price target on shares of United Dominion Realty Trust in a research note on Thursday, July 30th. UBS Group reiterated a “buy” rating and set a $41.00 price objective (down from $42.00) on shares of United Dominion Realty Trust in a research report on Tuesday. Wall Street Zen upgraded shares of United Dominion Realty Trust from a “sell” rating to a “hold” rating in a research report on Sunday, August 9th. Wells Fargo & Company reduced their price target on shares of United Dominion Realty Trust from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, September 1st. Finally, Truist Financial cut shares of United Dominion Realty Trust from a “buy” rating to a “hold” rating and set a $41.00 price target on the stock. in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, United Dominion Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $41.03.

United Dominion Realty Trust Price Performance

NYSE:UDR opened at $33.89 on Thursday. The business’s 50-day simple moving average is $37.66 and its two-hundred day simple moving average is $37.20. United Dominion Realty Trust has a 52 week low of $32.94 and a 52 week high of $42.00. The stock has a market cap of $10.89 billion, a PE ratio of 21.59, a P/E/G ratio of 8.64 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.

United Dominion Realty Trust (NYSE:UDR) last released its quarterly earnings data on Monday, July 27th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The firm had revenue of $425.40 million during the quarter, compared to analyst estimates of $423.35 million. United Dominion Realty Trust had a return on equity of 16.56% and a net margin of 30.43%.The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. United Dominion Realty Trust has set its FY 2026 guidance at 2.490-2.570 EPS and its Q3 2026 guidance at 0.640-0.640 EPS. As a group, analysts forecast that United Dominion Realty Trust will post 2.53 EPS for the current fiscal year.

Hedge Funds Weigh In On United Dominion Realty Trust

A number of institutional investors and hedge funds have recently made changes to their positions in UDR. BlackRock Inc. bought a new stake in shares of United Dominion Realty Trust in the 2nd quarter worth about $1,247,535,000. Canada Pension Plan Investment Board bought a new position in shares of United Dominion Realty Trust in the 2nd quarter valued at about $219,560,000. Bank of New York Mellon Corp bought a new position in shares of United Dominion Realty Trust in the 2nd quarter valued at about $89,660,000. Legal & General Group Plc purchased a new position in United Dominion Realty Trust in the second quarter worth about $78,688,000. Finally, Bank of America Corp DE purchased a new position in United Dominion Realty Trust in the second quarter worth about $56,374,000. 97.82% of the stock is owned by hedge funds and other institutional investors.

About United Dominion Realty Trust

United Dominion Realty Trust, Inc (NYSE: UDR) is a real estate investment trust focused on the ownership, acquisition, development, redevelopment and management of multifamily apartment communities. The company generates revenue primarily by leasing residential units to individuals and families.

Founded in 1972, UDR provides rental housing under its apartment community brands and supports residents through property management and related services. Its portfolio includes conventional apartment communities as well as properties offering amenities and technology-enabled services intended to enhance the resident experience.

UDR operates in selected metropolitan markets across the United States, with a focus on areas characterized by employment growth, household formation and sustained demand for rental housing.