United Dominion Realty Trust (NYSE:UDR) Raised to Outperform at Evercore ISI

Evercore ISI upgraded shares of United Dominion Realty Trust (NYSE:UDR - Free Report) from an in-line rating to an outperform rating in a report released on Monday, Marketbeat reports. The firm currently has $46.00 price target on the real estate investment trust's stock, up from their previous price target of $45.00.

Several other analysts have also recently commented on UDR. Mizuho reduced their target price on shares of United Dominion Realty Trust from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Royal Bank Of Canada raised their price objective on shares of United Dominion Realty Trust from $43.00 to $44.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Scotiabank lowered their price objective on 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. Barclays boosted their target price on United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Truist Financial cut United Dominion Realty Trust from a "buy" rating to a "hold" rating and raised their price target for the company from $45.00 to $46.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.44.

United Dominion Realty Trust Stock Performance

UDR traded down $0.12 during trading on Monday, hitting $40.37. 1,193,921 shares of the stock were exchanged, compared to its average volume of 2,180,266. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.77. United Dominion Realty Trust has a 1-year low of $36.61 and a 1-year high of $47.55. The stock has a fifty day moving average price of $41.21 and a two-hundred day moving average price of $42.00. The firm has a market capitalization of $13.37 billion, a P/E ratio of 115.34, a PEG ratio of 13.50 and a beta of 0.82.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, meeting analysts' consensus estimates of $0.61. United Dominion Realty Trust had a net margin of 7.33% and a return on equity of 3.73%. The business had revenue of $419.84 million for the quarter, compared to analysts' expectations of $421.23 million. During the same period in the previous year, the company posted $0.61 EPS. The company's quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts predict that United Dominion Realty Trust will post 2.51 earnings per share for the current year.

United Dominion Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.26%. United Dominion Realty Trust's payout ratio is 491.43%.

Institutional Trading of United Dominion Realty Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of United Dominion Realty Trust by 68.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 491 shares during the period. Victory Capital Management Inc. increased its position in United Dominion Realty Trust by 3.5% during the 4th quarter. Victory Capital Management Inc. now owns 100,584 shares of the real estate investment trust's stock worth $4,366,000 after purchasing an additional 3,394 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in United Dominion Realty Trust in the fourth quarter valued at approximately $2,763,000. Raymond James Financial Inc. acquired a new position in United Dominion Realty Trust during the fourth quarter valued at approximately $22,662,000. Finally, Amundi grew its stake in United Dominion Realty Trust by 22.8% during the fourth quarter. Amundi now owns 1,655,179 shares of the real estate investment trust's stock worth $68,226,000 after buying an additional 307,823 shares during the period. 97.84% of the stock is currently owned by institutional investors and hedge funds.

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.