Evercore ISI Has Lowered Expectations for United Dominion Realty Trust (NYSE:UDR) Stock Price

United Dominion Realty Trust (NYSE:UDR) had its price objective reduced by Evercore ISI from $46.00 to $45.00 in a research note released on Monday morning,Benzinga reports. They currently have an outperform rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on UDR. Royal Bank Of Canada upped their price objective on United Dominion Realty Trust from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. UBS Group lowered their price target on United Dominion Realty Trust from $50.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. 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. Mizuho reduced their price objective on United Dominion Realty Trust from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Finally, Barclays boosted their target price on shares of United Dominion Realty Trust from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy 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 $45.57.

United Dominion Realty Trust Trading Down 0.6%

UDR opened at $38.33 on Monday. United Dominion Realty Trust has a 12-month low of $36.61 and a 12-month high of $47.55. The company has a debt-to-equity ratio of 1.76, a current ratio of 5.22 and a quick ratio of 5.22. The stock has a market capitalization of $12.70 billion, a PE ratio of 100.88, a P/E/G ratio of 9.66 and a beta of 0.84. The firm’s fifty day moving average price is $40.70 and its 200 day moving average price is $41.77.

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

United Dominion Realty Trust Announces Dividend

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

Hedge Funds Weigh In On United Dominion Realty Trust

Several hedge funds and other institutional investors have recently made changes to their positions in UDR. 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 acquiring an additional 2,246 shares in the last quarter. Invst LLC acquired a new position in shares of United Dominion Realty Trust during the first quarter valued at $757,000. Strs Ohio acquired a new position in shares of United Dominion Realty Trust during the first quarter valued at $36,506,000. Advisors Capital Management LLC bought a new stake in shares of United Dominion Realty Trust during the first quarter valued at about $229,000. Finally, Jane Street Group LLC lifted its holdings in United Dominion Realty Trust by 35.0% in the first quarter. Jane Street Group LLC now owns 14,028 shares of the real estate investment trust’s stock worth $634,000 after purchasing an additional 3,637 shares during the period. 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.