United Dominion Realty Trust (NYSE:UDR) Given New $44.00 Price Target at Evercore ISI

Key Points

• Evercore ISI has reduced its price target for United Dominion Realty Trust from $45.00 to $44.00, while maintaining an "outperform" rating, which implies a potential upside of 17.28% from its current price.
• Other analysts have varied opinions on the stock, with ratings shifting from "hold" to "sell" by Wall Street Zen, while Barclays increased its price target to $51.00 and maintained an "overweight" rating.
• The company's recent earnings report showed a net margin of 7.81% and a revenue increase of 2.4% year-over-year, with the company beating EPS estimates by $0.02.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) had its price objective reduced by stock analysts at Evercore ISI from $45.00 to $44.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's price objective points to a potential upside of 17.28% from the company's current price.

Other analysts have also issued reports about the company. Wall Street Zen lowered United Dominion Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday. UBS Group cut their price objective on United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Barclays increased their price objective on United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Piper Sandler reiterated a "neutral" rating and set a $43.00 price objective (down from $48.00) on shares of United Dominion Realty Trust in a report on Monday, August 4th. Finally, Royal Bank Of Canada increased their price objective on 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $45.50.

United Dominion Realty Trust Stock Performance

Shares of NYSE UDR opened at $37.52 on Tuesday. The stock has a fifty day moving average price of $40.46 and a two-hundred day moving average price of $41.70. The company has a debt-to-equity ratio of 1.76, a quick ratio of 5.22 and a current ratio of 5.22. The firm has a market cap of $12.43 billion, a P/E ratio of 98.73, a PEG ratio of 9.54 and a beta of 0.84. United Dominion Realty Trust has a 1 year low of $36.61 and a 1 year high of $47.55.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings data 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. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $422.64 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts forecast that United Dominion Realty Trust will post 2.51 EPS for the current fiscal year.

Hedge Funds Weigh In On United Dominion Realty Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Beaird Harris Wealth Management LLC bought a new position in United Dominion Realty Trust during the first quarter worth about $28,000. Spire Wealth Management grew its holdings in United Dominion Realty Trust by 3,079.2% during the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 739 shares during the period. Sentry Investment Management LLC bought a new stake in shares of United Dominion Realty Trust during the first quarter worth approximately $47,000. Horizon Financial Services LLC bought a new stake in shares of United Dominion Realty Trust during the first quarter worth approximately $51,000. Finally, National Pension Service boosted its holdings in shares of United Dominion Realty Trust by 2,553.5% during the first quarter. National Pension Service now owns 1,141 shares of the real estate investment trust's stock worth $52,000 after acquiring an additional 1,098 shares during the period. Institutional investors own 97.82% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.