Piper Sandler Has Lowered Expectations for United Dominion Realty Trust (NYSE:UDR) Stock Price

United Dominion Realty Trust (NYSE:UDR) had its price target dropped by investment analysts at Piper Sandler from $43.00 to $39.00 in a research note issued on Monday, MarketBeat reports. The brokerage currently has a “neutral” rating on the real estate investment trust’s stock. Piper Sandler’s price objective would indicate a potential upside of 13.77% from the stock’s previous close.

Other analysts have also issued reports about the stock. Truist Financial lowered their price objective on shares of United Dominion Realty Trust from $46.00 to $43.00 and set a “hold” rating for the company in a report on Tuesday, August 26th. Cantor Fitzgerald assumed coverage on shares of United Dominion Realty Trust in a report on Wednesday, October 1st. They issued a “neutral” rating and a $40.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of United Dominion Realty Trust from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, October 13th. Wall Street Zen lowered shares of United Dominion Realty Trust from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Morgan Stanley lowered their price objective on shares of United Dominion Realty Trust from $47.50 to $44.50 and set an “equal weight” rating for the company in a report on Wednesday, August 13th. Four investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.57.

United Dominion Realty Trust Stock Performance

United Dominion Realty Trust stock opened at $34.28 on Monday. 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 firm has a 50-day moving average of $36.89 and a 200-day moving average of $39.31. The firm has a market cap of $11.36 billion, a P/E ratio of 77.91, a P/E/G ratio of 7.76 and a beta of 0.85. United Dominion Realty Trust has a 1-year low of $32.94 and a 1-year high of $46.62.

United Dominion Realty Trust (NYSE:UDR) last posted its earnings results on Monday, June 3rd. The real estate investment trust reported $0.60 earnings per share for the quarter. The company had revenue of $399.55 million during the quarter. United Dominion Realty Trust had a net margin of 8.80% and a return on equity of 4.51%. Sell-side analysts expect that United Dominion Realty Trust will post 2.51 EPS for the current year.

Hedge Funds Weigh In On United Dominion Realty Trust

Several large investors have recently made changes to their positions in UDR. Beaird Harris Wealth Management LLC purchased a new position in shares of United Dominion Realty Trust during the first quarter valued at approximately $28,000. National Pension Service lifted its holdings 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 during the last quarter. Federated Hermes Inc. lifted its holdings in shares of United Dominion Realty Trust by 61.3% during the first quarter. Federated Hermes Inc. now owns 1,323 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 503 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of United Dominion Realty Trust by 124.7% during the first quarter. Brooklyn Investment Group now owns 1,784 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 990 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of United Dominion Realty Trust by 107.5% during the second quarter. Parallel Advisors LLC now owns 4,335 shares of the real estate investment trust’s stock valued at $177,000 after purchasing an additional 2,246 shares during the last quarter. 97.82% of the stock is currently owned by hedge funds and other 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.