United Dominion Realty Trust (NYSE:UDR) Price Target Cut to $41.00 by Analysts at Wells Fargo & Company

United Dominion Realty Trust (NYSE:UDR) had its target price lowered by Wells Fargo & Company from $42.00 to $41.00 in a report released on Monday, Marketbeat reports. The firm currently has an overweight rating on the real estate investment trust’s stock.

Other equities research analysts have also recently issued reports about the company. Barclays reduced their price objective on United Dominion Realty Trust from $48.00 to $45.00 and set an “overweight” rating for the company in a research report on Tuesday, September 30th. Wall Street Zen cut United Dominion Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday. Truist Financial reduced their price objective on United Dominion Realty Trust from $46.00 to $43.00 and set a “hold” rating for the company in a research report on Tuesday, August 26th. Morgan Stanley reduced their price objective on United Dominion Realty Trust from $47.50 to $44.50 and set an “equal weight” rating for the company in a research report on Wednesday, August 13th. Finally, BNP Paribas Exane cut United Dominion Realty Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $43.65.

United Dominion Realty Trust Trading Up 1.2%

NYSE:UDR opened at $36.15 on Monday. The stock’s 50 day moving average price is $37.87 and its 200 day moving average price is $39.97. United Dominion Realty Trust has a 52 week low of $35.21 and a 52 week high of $46.62. The company has a market capitalization of $11.98 billion, a P/E ratio of 95.13, a P/E/G ratio of 8.26 and a beta of 0.85. The company has a debt-to-equity ratio of 1.76, a quick ratio of 5.22 and a current ratio of 5.22.

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

United Dominion Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 9th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Thursday, October 9th. United Dominion Realty Trust’s dividend payout ratio (DPR) is 452.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen LLC bought a new position in shares of United Dominion Realty Trust during the first quarter valued at $79,487,000. Invesco Ltd. lifted its holdings in shares of United Dominion Realty Trust by 21.5% during the first quarter. Invesco Ltd. now owns 9,155,231 shares of the real estate investment trust’s stock valued at $413,542,000 after acquiring an additional 1,619,997 shares during the period. Woodline Partners LP lifted its holdings in shares of United Dominion Realty Trust by 173.0% during the first quarter. Woodline Partners LP now owns 1,421,023 shares of the real estate investment trust’s stock valued at $64,188,000 after acquiring an additional 900,504 shares during the period. Strs Ohio bought a new position in shares of United Dominion Realty Trust during the first quarter valued at $36,506,000. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of United Dominion Realty Trust by 155.1% during the first quarter. Alyeska Investment Group L.P. now owns 904,642 shares of the real estate investment trust’s stock valued at $40,863,000 after acquiring an additional 549,973 shares during the period. 97.82% of the stock is 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.