Zacks Investment Research upgraded shares of United Dominion Realty Trust, Inc. (NYSE:UDR) from a hold rating to a buy rating in a research report sent to investors on Thursday, July 13th. The brokerage currently has $42.00 price objective on the real estate investment trust’s stock.

According to Zacks, “Shares of UDR outperformed the Zacks categorized REIT – Equity Trust – Residential industry over the past three months. With a superior portfolio in the targeted U.S. markets and disciplined capital allocation, UDR is well poised for growth. Moreover, focus on enhancing portfolio through expansion in core markets and sale of non-core ones should support momentum. Also, the company’s first-quarter 2017 FFO as adjusted per share grew 4.7% year over. This was backed by 3.8% year-over-year growth in total revenue stemmed by increased revenues from same-store properties and stabilized, non-mature communities. However, new supply and elevated concession levels are likely to make the market choppy in the near term. Additionally, rate hike adds to the company’s woes.”

Several other research analysts also recently weighed in on the stock. Barclays PLC lifted their target price on shares of United Dominion Realty Trust from $36.00 to $37.00 and gave the stock an equal weight rating in a research report on Wednesday, April 19th. Evercore ISI cut shares of United Dominion Realty Trust from an in-line rating to an underperform rating and set a $38.00 price target for the company. in a report on Monday, June 12th. Cantor Fitzgerald restated a buy rating and set a $39.00 price target on shares of United Dominion Realty Trust in a report on Monday, April 24th. BTIG Research raised their price target on shares of United Dominion Realty Trust from $37.00 to $39.00 and gave the stock a buy rating in a report on Monday, April 24th. Finally, BMO Capital Markets set a $39.00 price target on shares of United Dominion Realty Trust and gave the stock a hold rating in a report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $38.67.

Shares of United Dominion Realty Trust (UDR) opened at 38.65 on Thursday. The stock has a market capitalization of $10.34 billion, a price-to-earnings ratio of 34.95 and a beta of 0.38. United Dominion Realty Trust has a 1-year low of $32.79 and a 1-year high of $40.71. The stock’s 50 day moving average is $39.01 and its 200 day moving average is $37.29.

United Dominion Realty Trust (NYSE:UDR) last released its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $247.97 million for the quarter, compared to the consensus estimate of $244.17 million. United Dominion Realty Trust had a net margin of 30.74% and a return on equity of 10.40%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. On average, equities analysts forecast that United Dominion Realty Trust will post $0.26 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 10th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Thursday, July 6th. United Dominion Realty Trust’s dividend payout ratio is 112.73%.

In related news, SVP Harry G. Alcock sold 10,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $38.72, for a total transaction of $387,200.00. Following the transaction, the senior vice president now owns 115,163 shares of the company’s stock, valued at $4,459,111.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Warren L. Troupe sold 15,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $39.05, for a total transaction of $585,750.00. Following the transaction, the vice president now directly owns 561,075 shares in the company, valued at approximately $21,909,978.75. The disclosure for this sale can be found here. In the last three months, insiders sold 50,000 shares of company stock worth $1,934,200. Insiders own 3.07% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Cleararc Capital Inc. raised its position in shares of United Dominion Realty Trust by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,543 shares of the real estate investment trust’s stock worth $237,000 after buying an additional 61 shares during the period. Telos Capital Management Inc. raised its position in shares of United Dominion Realty Trust by 0.8% in the first quarter. Telos Capital Management Inc. now owns 18,200 shares of the real estate investment trust’s stock worth $660,000 after buying an additional 145 shares during the period. Pacer Advisors Inc. raised its stake in shares of United Dominion Realty Trust by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,000 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 192 shares during the period. Mn Services Vermogensbeheer B.V. raised its stake in shares of United Dominion Realty Trust by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,127 shares of the real estate investment trust’s stock valued at $242,000 after buying an additional 280 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of United Dominion Realty Trust by 0.7% in the first quarter. Oppenheimer & Co. Inc. now owns 52,756 shares of the real estate investment trust’s stock valued at $1,913,000 after buying an additional 350 shares during the period. 98.33% of the stock is currently owned by institutional investors and hedge funds.

United Dominion Realty Trust Company Profile

UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.

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Analyst Recommendations for United Dominion Realty Trust (NYSE:UDR)

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