United Dominion Realty Trust (NYSE:UDR) Given New $37.00 Price Target at Scotiabank

United Dominion Realty Trust (NYSE:UDR) had its target price cut by Scotiabank from $46.00 to $37.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a sector perform rating on the real estate investment trust’s stock.

Several other equities analysts have also commented on the stock. Truist Financial lowered their price target on shares of 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. JPMorgan Chase & Co. restated a “neutral” rating and set a $46.00 price target on shares of United Dominion Realty Trust in a research report on Friday, October 17th. UBS Group lowered their price target on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th. Morgan Stanley lowered their price target on shares of 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, Barclays lowered their price target on shares of 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. Four research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, United Dominion Realty Trust has a consensus rating of “Hold” and a consensus price target of $41.57.

United Dominion Realty Trust Stock Up 1.5%

UDR stock opened at $34.28 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 5.22 and a quick ratio of 5.22. United Dominion Realty Trust has a 1-year low of $32.94 and a 1-year high of $46.62. The firm has a fifty day moving average price of $36.89 and a two-hundred day moving average price of $39.31. The firm has a market cap of $11.36 billion, a price-to-earnings ratio of 77.91, a PEG ratio of 7.76 and a beta of 0.85.

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

United Dominion Realty Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 9th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Thursday, October 9th. United Dominion Realty Trust’s dividend payout ratio is currently 390.91%.

Hedge Funds Weigh In On United Dominion Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in United Dominion Realty Trust by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 51,023,940 shares of the real estate investment trust’s stock valued at $2,304,751,000 after acquiring an additional 214,209 shares during the last quarter. Invesco Ltd. lifted its holdings in United Dominion Realty Trust by 21.5% in the 1st 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 last quarter. Northern Trust Corp lifted its holdings in United Dominion Realty Trust by 0.7% in the 1st quarter. Northern Trust Corp now owns 4,886,672 shares of the real estate investment trust’s stock valued at $220,731,000 after acquiring an additional 32,693 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in United Dominion Realty Trust by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,436,208 shares of the real estate investment trust’s stock valued at $200,384,000 after acquiring an additional 69,154 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in United Dominion Realty Trust in the 1st quarter valued at about $79,487,000. Institutional investors own 97.82% of the company’s stock.

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.