United Dominion Realty Trust (NYSE:UDR) Price Target Cut to $43.00 by Analysts at Piper Sandler

United Dominion Realty Trust (NYSE:UDR) had its target price reduced by Piper Sandler from $48.00 to $43.00 in a report published on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on the company. Scotiabank decreased their price objective on United Dominion Realty Trust from $51.00 to $48.00 and set a “sector perform” rating on the stock in a report on Friday, June 13th. UBS Group decreased their price objective on United Dominion Realty Trust from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Evercore ISI decreased their price objective on United Dominion Realty Trust from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday. Barclays raised their price objective on United Dominion Realty Trust from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Mizuho decreased their price objective on United Dominion Realty Trust from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.80.

United Dominion Realty Trust Stock Performance

Shares of UDR opened at $37.98 on Monday. The company has a market cap of $12.58 billion, a PE ratio of 99.94, a price-to-earnings-growth ratio of 12.87 and a beta of 0.84. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 1.76. The stock has a 50-day moving average price of $40.73 and a 200-day moving average price of $41.79. United Dominion Realty Trust has a 12-month low of $36.61 and a 12-month high of $47.55.

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

United Dominion Realty Trust Announces Dividend

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

Institutional Investors Weigh In On United Dominion Realty Trust

A number of large investors have recently made changes to their positions in the business. Beaird Harris Wealth Management LLC bought a new stake in shares of United Dominion Realty Trust during the first quarter valued at approximately $28,000. Spire Wealth Management boosted its position in shares of United Dominion Realty Trust by 3,079.2% during the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 739 shares in the last quarter. Sentry Investment Management LLC bought a new stake in shares of United Dominion Realty Trust during the first quarter valued at approximately $47,000. Horizon Financial Services LLC bought a new stake in shares of United Dominion Realty Trust during the first quarter valued at approximately $51,000. Finally, National Pension Service boosted its position in shares of United Dominion Realty Trust by 2,553.5% during the first quarter. National Pension Service now owns 1,141 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 1,098 shares in the last quarter. 97.82% of the stock is currently owned by institutional investors.

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.