United Dominion Realty Trust (NYSE:UDR) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

United Dominion Realty Trust (NYSE:UDR) posted its quarterly earnings data on Monday. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01, Zacks reports. United Dominion Realty Trust had a net margin of 30.43% and a return on equity of 16.56%. The company had revenue of $430.37 million during the quarter, compared to analysts’ expectations of $427.85 million. During the same period in the prior year, the company posted $0.56 earnings per share. United Dominion Realty Trust’s revenue for the quarter was down .9% compared to the same quarter last year.

United Dominion Realty Trust Stock Up 1.3%

Shares of NYSE UDR traded up $0.46 during trading on Monday, hitting $35.98. 5,119,820 shares of the company traded hands, compared to its average volume of 4,075,035. The business’s fifty day moving average is $35.03 and its 200 day moving average is $36.81. United Dominion Realty Trust has a fifty-two week low of $32.94 and a fifty-two week high of $42.00. The firm has a market capitalization of $11.56 billion, a price-to-earnings ratio of 22.91, a P/E/G ratio of 7.76 and a beta of 0.70. The company has a debt-to-equity ratio of 2.01, a quick ratio of 4.22 and a current ratio of 4.22.

United Dominion Realty Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a $0.1450 dividend. This represents a $1.74 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 15th. United Dominion Realty Trust’s payout ratio is 110.83%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UDR shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $44.00 price target on shares of United Dominion Realty Trust in a research report on Friday, August 14th. Jefferies Financial Group raised United Dominion Realty Trust to a “strong-buy” rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their price objective on United Dominion Realty Trust from $44.50 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 12th. Piper Sandler cut their target price on United Dominion Realty Trust from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Finally, Evercore set a $41.00 target price on United Dominion Realty Trust in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, United Dominion Realty Trust currently has an average rating of “Hold” and an average target price of $40.03.

United Dominion Realty Trust Company Profile

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.