United Dominion Realty Trust (NYSE:UDR) Announces Earnings Results

United Dominion Realty Trust (NYSE:UDR) released its quarterly earnings results on Monday. The real estate investment trust reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.03, Zacks reports. United Dominion Realty Trust had a return on equity of 16.56% and a net margin of 30.43%. The firm had revenue of $430.37 million during the quarter, compared to analysts’ expectations of $424.58 million. During the same quarter in the prior year, the business earned $0.56 EPS. United Dominion Realty Trust’s quarterly revenue was down .9% compared to the same quarter last year.

United Dominion Realty Trust Stock Up 1.3%

Shares of NYSE:UDR opened at $35.98 on Tuesday. The firm has a market cap of $11.56 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 7.59 and a beta of 0.72. The company has a fifty day simple moving average of $35.03 and a 200 day simple moving average of $36.81. The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.01. United Dominion Realty Trust has a 12-month low of $32.94 and a 12-month high of $42.00.

United Dominion Realty Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be given 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 4.8%. United Dominion Realty Trust’s dividend payout ratio (DPR) is presently 110.83%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reissued a “sell” rating and set a $38.00 target price on shares of United Dominion Realty Trust in a research report on Thursday, July 30th. Barclays lowered their price target on shares of United Dominion Realty Trust from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. UBS Group cut their price objective on shares of United Dominion Realty Trust from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Truist Financial cut shares of United Dominion Realty Trust from a “buy” rating to a “hold” rating and set a $41.00 price objective for the company. in a research report on Wednesday, July 8th. Finally, Wall Street Zen upgraded United Dominion Realty Trust from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Dominion Realty Trust presently has a consensus rating of “Hold” and an average target price of $40.03.

About United Dominion Realty Trust

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.