United Dominion Realty Trust (NYSE:UDR) Issues Quarterly Earnings Results

United Dominion Realty Trust (NYSE:UDR) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03, Zacks reports. The firm had revenue of $430.37 million for the quarter, compared to the consensus estimate of $424.58 million. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.39%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS.

United Dominion Realty Trust Stock Performance

NYSE:UDR opened at $37.00 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.44 and a quick ratio of 4.22. The business has a fifty day simple moving average of $34.94 and a two-hundred day simple moving average of $36.80. United Dominion Realty Trust has a 1 year low of $33.10 and a 1 year high of $42.00. The company has a market capitalization of $11.73 billion, a P/E ratio of 14.60, a P/E/G ratio of 8.14 and a beta of 0.70.

United Dominion Realty Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a dividend of $0.1450 per share. This represents a $1.74 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, December 15th. United Dominion Realty Trust’s dividend payout ratio is 110.83%.

Analyst Upgrades and Downgrades

UDR has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on United Dominion Realty Trust from $43.00 to $39.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Mizuho dropped their price objective on United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 price objective on shares of United Dominion Realty Trust in a report on Friday, August 14th. The Goldman Sachs Group reiterated a “sell” rating and issued a $38.00 target price on shares of United Dominion Realty Trust in a research note on Thursday, July 30th. Finally, Evercore set a $41.00 target price on shares of United Dominion Realty Trust in a report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, United Dominion Realty Trust currently has an average rating of “Hold” and an average target price of $40.10.

Insider Activity

In other news, COO Michael Lacy sold 10,000 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $36.48, for a total transaction of $364,800.00. Following the transaction, the chief operating officer owned 783 shares of the company’s stock, valued at $28,563.84. This represents a 92.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.82% of the stock is currently owned by insiders.

About United Dominion Realty Trust

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.