Wells Fargo & Company Has Lowered Expectations for United Dominion Realty Trust (NYSE:UDR) Stock Price

Key Points

• Wells Fargo & Company has reduced its target price for United Dominion Realty Trust from $42.00 to $41.00, indicating a potential upside of 14.62% from its current stock price.
• Other analysts have also lowered their price targets for United Dominion Realty Trust, with an average target price now at $43.65 and a general rating of "Hold" among analysts.
• The stock is currently trading around $35.77, with a one-year performance range between $35.21 and $46.62.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $42.00 to $41.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Wells Fargo & Company's price objective would indicate a potential upside of 14.62% from the company's current price.

A number of other research analysts have also recently weighed in on the company. Evercore ISI lowered their price objective on United Dominion Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a research report on Monday. Barclays dropped their price target on shares of United Dominion Realty Trust from $48.00 to $45.00 and set an "overweight" rating for the company in a research report on Tuesday, September 30th. Truist Financial decreased their price objective on shares of United Dominion Realty Trust from $46.00 to $43.00 and set a "hold" rating on the stock in a research report on Tuesday, August 26th. UBS Group dropped their price objective on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, Wall Street Zen lowered United Dominion Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $43.65.

United Dominion Realty Trust Trading Down 0.1%

United Dominion Realty Trust stock opened at $35.77 on Monday. United Dominion Realty Trust has a one year low of $35.21 and a one year high of $46.62. The business's fifty day moving average is $37.90 and its 200 day moving average is $40.03. The stock has a market capitalization of $11.85 billion, a PE ratio of 94.13, a price-to-earnings-growth ratio of 8.26 and a beta of 0.85. The company has a debt-to-equity ratio of 1.76, a current ratio of 5.22 and a quick ratio of 5.22.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings results on Monday, June 3rd. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter. The firm had revenue of $399.55 million for the quarter. United Dominion Realty Trust had a net margin of 7.81% and a return on equity of 4.11%. On average, sell-side analysts predict that United Dominion Realty Trust will post 2.51 EPS for the current year.

Hedge Funds Weigh In On United Dominion Realty Trust

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Beaird Harris Wealth Management LLC acquired a new position in United Dominion Realty Trust during the 1st quarter valued at approximately $28,000. Spire Wealth Management raised its stake in United Dominion Realty Trust by 3,079.2% in the 1st quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 739 shares during the last quarter. Horizon Financial Services LLC acquired a new stake in United Dominion Realty Trust during the 1st quarter worth about $51,000. National Pension Service increased its holdings in shares of United Dominion Realty Trust by 2,553.5% in the first quarter. National Pension Service now owns 1,141 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 1,098 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of United Dominion Realty Trust by 61.3% in the first quarter. Federated Hermes Inc. now owns 1,323 shares of the real estate investment trust's stock worth $60,000 after purchasing an additional 503 shares during the last quarter. 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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