United Dominion Realty Trust (NYSE:UDR) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• UDR beat quarterly earnings expectations: The real estate investment trust reported earnings of $0.65 per share, $0.01 above consensus, while revenue reached $430.37 million versus estimates of $427.85 million. Revenue declined 0.9% year over year.
• Shares rose 1.3% to $35.98 following the results. UDR’s stock remains below its 52-week high of $42.00, with a market capitalization of approximately $11.56 billion.
• UDR declared a monthly dividend of $0.145 per share, equivalent to $1.74 annually and a 4.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $40.03.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) released its quarterly earnings results on Monday. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01, Zacks reports. United Dominion Realty Trust had a return on equity of 16.56% and a net margin of 30.43%. The company had revenue of $430.37 million for the quarter, compared to analysts' expectations of $427.85 million. During the same period in the previous year, the business posted $0.56 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year.

United Dominion Realty Trust Trading Up 1.3%

Shares of UDR traded up $0.46 during mid-day trading on Monday, reaching $35.98. 5,119,820 shares of the company were exchanged, compared to its average volume of 4,075,035. United Dominion Realty Trust has a 52 week low of $32.94 and a 52 week high of $42.00. The company has a debt-to-equity ratio of 2.01, a quick ratio of 4.22 and a current ratio of 4.22. The stock has a market capitalization of $11.56 billion, a PE ratio of 22.91, a PEG ratio of 7.76 and a beta of 0.70. The business has a 50 day simple moving average of $35.03 and a two-hundred day simple moving average of $36.81.

United Dominion Realty Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given a dividend of $0.1450 per share. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, December 15th. United Dominion Realty Trust's dividend payout ratio (DPR) is 110.83%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays dropped their price objective on shares of United Dominion Realty Trust from $46.00 to $44.00 and set an "overweight" rating for the company in a report on Wednesday, October 14th. JPMorgan Chase & Co. boosted their target price on shares of United Dominion Realty Trust from $39.00 to $41.00 and gave the stock an "underweight" rating in a report on Tuesday, August 4th. Jefferies Financial Group upgraded shares of United Dominion Realty Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. Mizuho dropped their price target on shares of United Dominion Realty Trust from $41.00 to $39.00 and set a "neutral" rating for the company in a research note on Tuesday, September 8th. Finally, Piper Sandler cut their price target on shares of United Dominion Realty Trust from $41.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $40.03.

About United Dominion Realty Trust

United Dominion Realty Trust, Inc NYSE: UDR is a real estate investment trust that owns, operates, acquires and develops multifamily apartment communities. The company generates revenue primarily by leasing apartments and related residential units to individuals and households.

UDR's portfolio includes conventional apartment communities as well as residential properties with amenities and services designed to support renter convenience and engagement. Its operations encompass property management, resident services, renovations, development and strategic acquisitions.

Founded in 1972, UDR has grown into a multifamily housing owner and operator serving selected markets across the United States.

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