United Dominion Realty Trust (NYSE:UDR) Stock Gets Price Target Cut from Cantor Fitzgerald

United Dominion Realty Trust (NYSE:UDR) had its target price reduced by Cantor Fitzgerald from $41.00 to $39.00 in a research report sent to investors on Monday morning,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the real estate investment trust’s stock.

Several other brokerages also recently commented on UDR. Barclays dropped 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 report on Wednesday, October 14th. Deutsche Bank reissued a “buy” rating and issued a $44.00 price objective on shares of United Dominion Realty Trust in a research report on Friday, August 14th. UBS Group lowered 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 research note on Wednesday, October 14th. Wells Fargo & Company dropped their target price on shares of United Dominion Realty Trust from $43.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, October 19th. Finally, Morgan Stanley cut their target price on shares of United Dominion Realty Trust from $44.50 to $42.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.17.

United Dominion Realty Trust Stock Down 0.4%

United Dominion Realty Trust stock opened at $36.52 on Monday. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.44 and a quick ratio of 3.44. United Dominion Realty Trust has a fifty-two week low of $33.10 and a fifty-two week high of $42.00. The firm has a fifty day moving average price of $34.90 and a two-hundred day moving average price of $36.78. The firm has a market cap of $11.57 billion, a price-to-earnings ratio of 14.38, a P/E/G ratio of 9.31 and a beta of 0.70.

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

United Dominion Realty Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a dividend of $0.1450 per share. This represents a $1.74 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, December 15th. United Dominion Realty Trust’s payout ratio is currently 82.08%.

Insider Buying and Selling

In other United Dominion Realty Trust news, COO Michael Lacy sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $36.48, for a total value of $364,800.00. Following the completion of the sale, the chief operating officer owned 783 shares in the company, valued at approximately $28,563.84. This trade represents a 92.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.82% of the stock is currently owned by company insiders.

Institutional Trading of United Dominion Realty Trust

Several institutional investors have recently modified their holdings of the company. New Mexico Educational Retirement Board raised its stake in shares of 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 purchasing an additional 1,000 shares in the last quarter. Addison Advisors LLC bought a new position in United Dominion Realty Trust in the second quarter worth $58,000. Northwestern Mutual Wealth Management Co. bought a new position in United Dominion Realty Trust in the second quarter worth $75,000. Allworth Financial LP acquired a new stake in United Dominion Realty Trust during the second quarter worth $106,000. Finally, Westpac Banking Corp acquired a new stake in United Dominion Realty Trust during the second quarter worth $114,000. Institutional investors and hedge funds own 97.82% of the company’s stock.

United Dominion Realty Trust Company Profile

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.