Morgan Stanley Has Lowered Expectations for United Dominion Realty Trust (NYSE:UDR) Stock Price

United Dominion Realty Trust (NYSE:UDR) had its price objective dropped by Morgan Stanley from $42.00 to $41.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the real estate investment trust’s stock. Morgan Stanley‘s price objective would suggest a potential upside of 13.24% from the stock’s previous close.

UDR has been the topic of several other research reports. Piper Sandler decreased their price objective on United Dominion Realty Trust from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Cantor Fitzgerald dropped their target price on United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Monday. The Goldman Sachs Group reiterated a “sell” rating and issued a $38.00 target price on shares of United Dominion Realty Trust in a research note on Thursday, July 30th. Barclays decreased their price target on United Dominion Realty Trust from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. Finally, Scotiabank lowered their price target on United Dominion Realty Trust from $41.00 to $38.00 and set a “sector perform” rating for the company in a report on Thursday, September 17th. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.17.

United Dominion Realty Trust Trading Down 1.2%

Shares of UDR traded down $0.46 on Wednesday, hitting $36.20. 622,272 shares of the stock traded hands, compared to its average volume of 4,098,364. United Dominion Realty Trust has a 1 year low of $33.10 and a 1 year high of $42.00. The stock’s 50 day moving average is $34.91 and its two-hundred day moving average is $36.79. The firm has a market capitalization of $11.47 billion, a P/E ratio of 17.08, a P/E/G ratio of 8.02 and a beta of 0.70. The company has a quick ratio of 3.44, a current ratio of 3.44 and a debt-to-equity ratio of 1.87.

United Dominion Realty Trust (NYSE:UDR) last released its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter. The firm had revenue of $428.08 million during the quarter. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.39%. As a group, sell-side analysts predict that United Dominion Realty Trust will post 2.54 earnings per share for the current year.

Insider Buying and Selling at United Dominion Realty Trust

In other news, COO Michael Lacy sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $36.48, for a total transaction of $364,800.00. Following the completion of the sale, the chief operating officer directly owned 783 shares of the company’s stock, valued at $28,563.84. The trade was a 92.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

About United Dominion Realty Trust

UDR, Inc., formerly known as United Dominion Realty Trust, is a real estate investment trust focused on the ownership, development, acquisition and management of apartment communities in the United States. The company traces its history to 1972 and provides rental housing across a range of markets and communities. UDR’s portfolio is concentrated in major coastal and Sun Belt markets, including areas such as New York, Boston, Washington, D.C., Southern California, Seattle, Denver, Dallas, Austin, Nashville and South Florida.