Evercore ISI Has Lowered Expectations for United Dominion Realty Trust (NYSE:UDR) Stock Price

Key Points

• Evercore ISI has lowered its price objective for United Dominion Realty Trust from $46.00 to $45.00 but maintains an "outperform" rating, indicating a potential upside of 16.62% based on the stock's previous close.
• Market analysts have varied opinions on UDR, with one sell rating, nine hold ratings, and seven buy ratings; the average consensus target price is currently $46.00.
• For the recent quarter, UDR reported $0.64 EPS, surpassing analyst estimates and reflecting a 2.4% increase in revenue year-over-year.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) had its price objective reduced by equities research analysts at Evercore ISI from $46.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's price objective would suggest a potential upside of 16.62% from the stock's previous close.

Several other research firms have also recently commented on UDR. Scotiabank cut their price objective on shares of United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. Royal Bank Of Canada increased their price target on United Dominion Realty Trust from $43.00 to $44.00 and gave the company a "sector perform" rating in a research note on Thursday, May 8th. UBS Group dropped their target price on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Mizuho cut their target price on shares of United Dominion Realty Trust from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Barclays upped their price objective on shares of United Dominion Realty Trust from $48.00 to $51.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, United Dominion Realty Trust currently has an average rating of "Hold" and a consensus target price of $46.00.

United Dominion Realty Trust Price Performance

Shares of United Dominion Realty Trust stock traded down $0.08 during midday trading on Monday, hitting $38.59. 722,654 shares of the company were exchanged, compared to its average volume of 2,247,352. United Dominion Realty Trust has a 52 week low of $36.61 and a 52 week high of $47.55. The company has a debt-to-equity ratio of 1.76, a current ratio of 5.22 and a quick ratio of 5.22. The firm has a 50 day simple moving average of $40.76 and a 200-day simple moving average of $41.81. The firm has a market cap of $12.78 billion, a P/E ratio of 101.47, a PEG ratio of 12.87 and a beta of 0.84.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to analyst estimates of $422.64 million. United Dominion Realty Trust had a net margin of 7.81% and a return on equity of 4.11%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. Research analysts forecast that United Dominion Realty Trust will post 2.51 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors lifted its position in shares of United Dominion Realty Trust by 64.1% in the 4th quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust's stock worth $566,940,000 after purchasing an additional 5,101,668 shares during the period. Invesco Ltd. raised its position in shares of United Dominion Realty Trust by 92.0% in the 4th quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust's stock worth $327,104,000 after acquiring an additional 3,609,925 shares in the last quarter. Nuveen LLC purchased a new stake in shares of United Dominion Realty Trust during the 1st quarter worth $79,487,000. Northern Trust Corp boosted its position in United Dominion Realty Trust by 54.2% during the fourth quarter. Northern Trust Corp now owns 4,853,979 shares of the real estate investment trust's stock valued at $210,711,000 after purchasing an additional 1,706,037 shares in the last quarter. Finally, FMR LLC lifted its position in shares of United Dominion Realty Trust by 10.5% during the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock valued at $546,639,000 after buying an additional 1,191,432 shares during the last quarter. 97.82% of the stock is currently 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.

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