Piper Sandler Cuts United Dominion Realty Trust (NYSE:UDR) Price Target to $43.00

Key Points

• Piper Sandler has reduced the price target for United Dominion Realty Trust from $48.00 to $43.00, maintaining a "neutral" rating which suggests a possible upside of 11.90% from its previous closing price.
• Multiple analysts have adjusted their targets for UDR, with Mizuho setting a new target of $41.00 and Barclays increasing their target from $48.00 to $51.00 while rating it "overweight".
• United Dominion Realty Trust reported a quarterly EPS of $0.64, slightly above analysts' estimates of $0.62, accompanied by revenue of $423 million, marking a 2.4% increase compared to the same quarter last year.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) had its target price decreased by stock analysts at Piper Sandler from $48.00 to $43.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the real estate investment trust's stock. Piper Sandler's price objective indicates a potential upside of 11.90% from the stock's previous close.

Several other analysts have also recently commented on UDR. Mizuho decreased their price target 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. Royal Bank Of Canada boosted their target price on shares of United Dominion Realty Trust from $43.00 to $44.00 and gave the stock a "sector perform" rating in a report on Thursday, May 8th. Evercore ISI reduced their target price on shares of United Dominion Realty Trust from $46.00 to $45.00 and set an "outperform" rating on the stock in a report on Monday. Barclays boosted their target price on shares of United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Scotiabank reduced their target price on shares of United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating on the stock in a report on Friday, June 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, United Dominion Realty Trust presently has a consensus rating of "Hold" and a consensus price target of $45.80.

United Dominion Realty Trust Price Performance

UDR stock traded down $0.24 during mid-day trading on Monday, hitting $38.43. The company had a trading volume of 793,141 shares, compared to its average volume of 2,248,405. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 101.23, a P/E/G ratio of 12.87 and a beta of 0.84. United Dominion Realty Trust has a 12-month low of $36.61 and a 12-month high of $47.55. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 1.76. The company has a 50-day moving average price of $40.76 and a 200 day moving average price of $41.81.

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

Institutional Investors Weigh In On United Dominion Realty Trust

Several large investors have recently added to or reduced their stakes in UDR. Townsquare Capital LLC lifted its position in shares of United Dominion Realty Trust by 4.8% in the 4th quarter. Townsquare Capital LLC now owns 5,173 shares of the real estate investment trust's stock worth $225,000 after purchasing an additional 237 shares during the period. GF Fund Management CO. LTD. raised its holdings in shares of United Dominion Realty Trust by 4.3% in the first quarter. GF Fund Management CO. LTD. now owns 5,937 shares of the real estate investment trust's stock worth $268,000 after buying an additional 243 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of United Dominion Realty Trust by 4.5% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 7,864 shares of the real estate investment trust's stock worth $355,000 after buying an additional 336 shares during the last quarter. Empowered Funds LLC increased its stake in shares of United Dominion Realty Trust by 5.8% in the first quarter. Empowered Funds LLC now owns 6,129 shares of the real estate investment trust's stock worth $277,000 after acquiring an additional 337 shares during the period. Finally, Continuum Advisory LLC increased its stake in shares of United Dominion Realty Trust by 38.0% in the fourth quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 351 shares during the period. 97.82% of the stock is owned by hedge funds and other institutional investors.

United Dominion Realty Trust Company Profile

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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