United Dominion Realty Trust (NYSE:UDR) Stock Price Target Lowered at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald cut UDR’s price target from $41 to $39 while maintaining a neutral rating, implying 6.57% upside from the current share price.
• Analyst sentiment is mixed but averages to Hold: nine analysts rate the stock Hold, while six rate it Buy or Strong Buy and two rate it Sell. The consensus price target is $39.97.
• UDR reported quarterly earnings of $0.67 per share on revenue of $428.08 million; its shares opened at $36.59.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) had its price target reduced by equities researchers at Cantor Fitzgerald from $41.00 to $39.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Cantor Fitzgerald's price objective points to a potential upside of 6.57% from the company's current price.

A number of other research analysts have also issued reports on UDR. Scotiabank lowered their target price on shares of United Dominion Realty Trust from $41.00 to $38.00 and set a "sector perform" rating on the stock in a report on Thursday, September 17th. Evercore set a $41.00 price target on United Dominion Realty Trust in a research note on Monday, September 21st. Jefferies Financial Group raised United Dominion Realty Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. Morgan Stanley lowered 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. Finally, Wells Fargo & Company dropped their price objective on United Dominion Realty Trust from $43.00 to $39.00 and set an "overweight" rating for the company in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, United Dominion Realty Trust currently has an average rating of "Hold" and a consensus price target of $39.97.

United Dominion Realty Trust Stock Up 0.0%

UDR opened at $36.59 on Monday. The stock has a fifty day moving average of $34.93 and a 200-day moving average of $36.80. The company has a market capitalization of $11.60 billion, a P/E ratio of 17.26, a P/E/G ratio of 8.00 and a beta of 0.70. United Dominion Realty Trust has a fifty-two week low of $33.10 and a fifty-two week high of $42.00. The company has a debt-to-equity ratio of 1.87, a quick ratio of 3.44 and a current ratio of 3.44.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.39%. The business had revenue of $428.08 million for the quarter. On average, equities analysts expect that United Dominion Realty Trust will post 2.54 EPS for the current year.

Insider Activity at United Dominion Realty Trust

In other news, COO Michael Lacy sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $36.48, for a total value of $364,800.00. Following the completion of the transaction, the chief operating officer directly owned 783 shares in the company, valued at approximately $28,563.84. The trade was a 92.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.82% of the company's stock.

Institutional Trading of United Dominion Realty Trust

Several large investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of United Dominion Realty Trust during the 2nd quarter worth $1,247,535,000. Canada Pension Plan Investment Board acquired a new position in United Dominion Realty Trust during the second quarter worth about $219,560,000. Bank of New York Mellon Corp bought a new position in shares of United Dominion Realty Trust in the second quarter worth about $89,660,000. Legal & General Group Plc bought a new position in shares of United Dominion Realty Trust in the second quarter worth about $78,688,000. Finally, Bank of America Corp DE bought a new position in shares of United Dominion Realty Trust in the second quarter worth about $56,374,000. Institutional investors and hedge funds own 97.82% of the company's stock.

About United Dominion Realty Trust

UDR, Inc, formerly known as United Dominion Realty Trust, is a real estate investment trust focused on the ownership, development, acquisition and management of apartment communities in the United States. The company traces its history to 1972 and provides rental housing across a range of markets and communities.

UDR's portfolio is concentrated in major coastal and Sun Belt markets, including areas such as New York, Boston, Washington, DC, Southern California, Seattle, Denver, Dallas, Austin, Nashville and South Florida.

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