United Dominion Realty Trust (NYSE:UDR) Stock Gets Price Target Reduction from Morgan Stanley

United Dominion Realty Trust (NYSE:UDR) had its price target trimmed by Morgan Stanley from $42.00 to $41.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.

Several other brokerages have also commented on UDR. JPMorgan Chase & Co. boosted their price target on shares of United Dominion Realty Trust from $39.00 to $41.00 and gave the stock an “underweight” rating in a report on Tuesday, August 4th. Scotiabank decreased their price objective on shares of 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. Mizuho dropped their target price on shares of United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 8th. Evercore set a $41.00 target price on shares of United Dominion Realty Trust in a research note on Monday, September 21st. Finally, Cantor Fitzgerald reduced their price target on shares of United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating for the company in a research report on Monday, November 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.17.

United Dominion Realty Trust Trading Up 0.9%

Shares of NYSE:UDR opened at $36.47 on Wednesday. United Dominion Realty Trust has a 12-month low of $33.10 and a 12-month high of $42.00. The company has a market capitalization of $11.56 billion, a PE ratio of 14.17, a PEG ratio of 9.17 and a beta of 0.70. The business has a 50 day moving average of $34.90 and a two-hundred day moving average of $36.77. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 1.87.

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

United Dominion Realty Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a $0.1450 dividend. This represents a $1.74 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Tuesday, December 15th. United Dominion Realty Trust’s dividend payout ratio (DPR) is presently 82.08%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On United Dominion Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of United Dominion Realty Trust during the 2nd quarter worth about $1,247,535,000. Canada Pension Plan Investment Board purchased a new stake in shares of United Dominion Realty Trust during the 2nd quarter worth approximately $219,560,000. Bank of New York Mellon Corp purchased a new stake in shares of United Dominion Realty Trust during the 2nd quarter worth approximately $89,660,000. Legal & General Group Plc purchased a new stake in shares of United Dominion Realty Trust during the 2nd quarter worth approximately $78,688,000. Finally, Bank of America Corp DE acquired a new position in shares of United Dominion Realty Trust in the 2nd quarter valued at $56,374,000. 97.82% of the stock is currently owned by institutional investors and hedge funds.

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.