United Dominion Realty Trust (NYSE:UDR) Given New $38.00 Price Target at Royal Bank Of Canada

United Dominion Realty Trust (NYSE:UDR) had its target price boosted by analysts at Royal Bank Of Canada from $37.00 to $38.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s target price suggests a potential upside of 2.63% from the company’s previous close.

Several other research firms have also issued reports on UDR. Wells Fargo & Company reduced their target price on United Dominion Realty Trust from $43.00 to $39.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Scotiabank lowered their price target on United Dominion Realty Trust from $41.00 to $38.00 and set a “sector perform” rating on the stock in a report on Thursday, September 17th. The Goldman Sachs Group reiterated a “sell” rating and set a $38.00 price target on shares of United Dominion Realty Trust in a research report on Thursday, July 30th. UBS Group cut their price objective on United Dominion Realty Trust from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 14th. Finally, Piper Sandler decreased their price objective on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, United Dominion Realty Trust currently has an average rating of “Hold” and a consensus price target of $40.10.

United Dominion Realty Trust Price Performance

Shares of United Dominion Realty Trust stock traded up $1.09 on Wednesday, reaching $37.02. The stock had a trading volume of 1,977,194 shares, compared to its average volume of 4,083,286. The business’s 50 day moving average is $34.98 and its two-hundred day moving average is $36.80. 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 1 year low of $33.10 and a 1 year high of $42.00. The company has a market cap of $11.89 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 7.85 and a beta of 0.70.

United Dominion Realty Trust (NYSE:UDR) last issued its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.31%. The company had revenue of $428.08 million during the quarter. As a group, research analysts anticipate that United Dominion Realty Trust will post 2.54 EPS for the current year.

Hedge Funds Weigh In On United Dominion Realty Trust

A number of large investors have recently modified their holdings of UDR. New Mexico Educational Retirement Board grew its holdings in shares of United Dominion Realty Trust by 7.2% during the 2nd quarter. New Mexico Educational Retirement Board now owns 14,900 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 1,000 shares during the last quarter. Addison Advisors LLC bought a new stake in United Dominion Realty Trust in the second quarter worth $58,000. Northwestern Mutual Wealth Management Co. bought a new stake in United Dominion Realty Trust in the second quarter worth $75,000. Allworth Financial LP purchased a new stake in United Dominion Realty Trust during the second quarter valued at about $106,000. Finally, Westpac Banking Corp purchased a new stake in United Dominion Realty Trust during the second quarter valued at about $114,000. 97.82% of the stock is owned by hedge funds and other institutional investors.

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.