United Dominion Realty Trust (NYSE:UDR) Share Price Breaks Below Fifty Day Moving Average - Here's Why

United Dominion Realty Trust, Inc. (NYSE:UDR - Get Free Report) shares crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $35.15 and traded as low as $34.65. United Dominion Realty Trust shares last traded at $34.6990, with a volume of 5,868,667 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently weighed in on UDR shares. Barclays lowered their price objective on United Dominion Realty Trust from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Wednesday, October 14th. Royal Bank Of Canada reduced their target price on United Dominion Realty Trust from $40.00 to $37.00 and set a "sector perform" rating on the stock in a research report on Tuesday, October 13th. UBS Group reduced their target price on United Dominion Realty Trust from $41.00 to $39.00 and set a "buy" rating on the stock in a research report on Wednesday, October 14th. Wells Fargo & Company decreased their price target on United Dominion Realty Trust from $43.00 to $39.00 and set an "overweight" rating for the company in a research note on Monday, October 19th. Finally, Piper Sandler lowered their price target on United Dominion Realty Trust from $41.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, United Dominion Realty Trust has an average rating of "Hold" and a consensus price target of $40.03.

United Dominion Realty Trust Stock Performance

The company has a market cap of $11.15 billion, a PE ratio of 22.10, a P/E/G ratio of 9.93 and a beta of 0.72. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.01. The firm's 50-day simple moving average is $35.15 and its two-hundred day simple moving average is $36.82.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.08. United Dominion Realty Trust had a net margin of 30.43% and a return on equity of 16.56%. The business had revenue of $425.40 million for the quarter, compared to analyst estimates of $423.35 million. During the same quarter in the prior year, the business posted $0.64 EPS. United Dominion Realty Trust's revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts anticipate that United Dominion Realty Trust, Inc. will post 2.54 earnings per share for the current fiscal year.

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 issued a dividend of $0.1450 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.74 dividend on an annualized basis and a dividend yield of 5.0%. United Dominion Realty Trust's payout ratio is 110.83%.

Hedge Funds Weigh In On United Dominion Realty Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UDR. BlackRock Inc. purchased a new position in shares of United Dominion Realty Trust during the second quarter worth $1,247,535,000. Canada Pension Plan Investment Board acquired a new position in United Dominion Realty Trust during the second quarter valued at $219,560,000. Bank of New York Mellon Corp purchased a new stake in United Dominion Realty Trust in the second quarter valued at $89,660,000. Legal & General Group Plc purchased a new stake in United Dominion Realty Trust in the second quarter valued at $78,688,000. Finally, Bank of America Corp DE purchased a new stake in United Dominion Realty Trust in the second quarter valued at $56,374,000. Hedge funds and other institutional investors own 97.82% of the company's stock.

United Dominion Realty Trust Company Profile

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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