United Dominion Realty Trust (NYSE:UDR) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

United Dominion Realty Trust (NYSE:UDR) released its quarterly earnings data on Monday. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01, Zacks reports. United Dominion Realty Trust had a net margin of 30.43% and a return on equity of 16.56%. The company had revenue of $430.37 million for the quarter, compared to analysts’ expectations of $424.58 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue was down .9% on a year-over-year basis.

United Dominion Realty Trust Price Performance

UDR stock opened at $35.98 on Tuesday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 4.22 and a current ratio of 4.22. The business has a 50-day simple moving average of $35.03 and a two-hundred day simple moving average of $36.81. The company has a market capitalization of $11.56 billion, a P/E ratio of 22.91, a price-to-earnings-growth ratio of 7.59 and a beta of 0.72. United Dominion Realty Trust has a 52-week low of $32.94 and a 52-week high of $42.00.

United Dominion Realty Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a $0.1450 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $1.74 annualized dividend and a yield of 4.8%. United Dominion Realty Trust’s dividend payout ratio (DPR) is presently 110.83%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $38.00 price target on shares of United Dominion Realty Trust in a research note on Thursday, July 30th. Jefferies Financial Group upgraded United Dominion Realty Trust to a “strong-buy” rating in a report on Wednesday, July 22nd. Piper Sandler lowered their target price on United Dominion Realty Trust from $41.00 to $36.00 and set a “neutral” rating on the stock in a research report on Monday, October 12th. Evercore set a $41.00 target price on United Dominion Realty Trust in a research report on Monday, September 21st. Finally, Mizuho cut their target price on United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average 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.