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

United Dominion Realty Trust (NYSE:UDR) had its price target cut by Evercore ISI from $45.00 to $44.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. They currently have an outperform rating on the real estate investment trust’s stock.

Other analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of United Dominion Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. Cantor Fitzgerald assumed coverage on shares of United Dominion Realty Trust in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $40.00 price objective for the company. Morgan Stanley reduced their price objective on shares of United Dominion Realty Trust from $47.50 to $44.50 and set an “equal weight” rating for the company in a research note on Wednesday, August 13th. BNP Paribas Exane cut shares of United Dominion Realty Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, September 29th. Finally, UBS Group reduced their price objective on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $43.65.

United Dominion Realty Trust Stock Performance

UDR stock opened at $36.23 on Monday. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 95.36, a P/E/G ratio of 8.41 and a beta of 0.85. United Dominion Realty Trust has a 12 month low of $35.21 and a 12 month high of $46.62. The firm has a 50 day moving average of $37.78 and a two-hundred day moving average of $39.92.

United Dominion Realty Trust (NYSE:UDR) last posted its earnings results on Monday, June 3rd. The real estate investment trust reported $0.60 EPS for the quarter. The company had revenue of $399.55 million during the quarter. United Dominion Realty Trust had a net margin of 7.81% and a return on equity of 4.11%. As a group, equities analysts anticipate that United Dominion Realty Trust will post 2.51 EPS for the current fiscal year.

United Dominion Realty Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 9th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.7%. The ex-dividend date is Thursday, October 9th. United Dominion Realty Trust’s dividend payout ratio is presently 452.63%.

Hedge Funds Weigh In On United Dominion Realty Trust

Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in United Dominion Realty Trust by 107.5% during the 2nd quarter. Parallel Advisors LLC now owns 4,335 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 2,246 shares during the last quarter. Invst LLC acquired a new position in United Dominion Realty Trust during the 1st quarter valued at $757,000. Strs Ohio acquired a new position in United Dominion Realty Trust during the 1st quarter valued at $36,506,000. Advisors Capital Management LLC acquired a new position in United Dominion Realty Trust during the 1st quarter valued at $229,000. Finally, Jane Street Group LLC raised its stake in United Dominion Realty Trust by 35.0% during the 1st quarter. Jane Street Group LLC now owns 14,028 shares of the real estate investment trust’s stock valued at $634,000 after purchasing an additional 3,637 shares during the last quarter. 97.82% of the stock is currently 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.