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 price target upped by stock analysts at Royal Bank Of Canada from $37.00 to $38.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the real estate investment trust’s stock. Royal Bank Of Canada‘s price objective would indicate a potential upside of 2.63% from the company’s previous close.

UDR has been the subject of several other research reports. UBS Group dropped their price target on shares of United Dominion Realty Trust from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 14th. 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 research report on Thursday, September 17th. The Goldman Sachs Group restated a “sell” rating and issued a $38.00 price objective on shares of United Dominion Realty Trust in a research report on Thursday, July 30th. Piper Sandler lowered their price objective on shares of United Dominion Realty Trust from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, October 12th. Finally, Wall Street Zen raised United Dominion Realty Trust from a “sell” rating to a “hold” rating in a research note on Sunday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, United Dominion Realty Trust presently has an average rating of “Hold” and a consensus target price of $40.10.

United Dominion Realty Trust Trading Up 3.0%

UDR stock traded up $1.09 during midday trading on Wednesday, hitting $37.02. The company had a trading volume of 1,977,194 shares, compared to its average volume of 4,083,286. 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 52 week low of $33.10 and a 52 week high of $42.00. The stock’s 50 day moving average price is $34.98 and its 200 day moving average price is $36.80. The stock has a market cap of $11.89 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 7.85 and a beta of 0.70.

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 return on equity of 22.31% and a net margin of 40.75%. The firm had revenue of $428.08 million during the quarter. As a group, equities research analysts expect that United Dominion Realty Trust will post 2.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. New Mexico Educational Retirement Board raised its holdings in United Dominion Realty Trust by 7.2% in the 2nd quarter. New Mexico Educational Retirement Board now owns 14,900 shares of the real estate investment trust’s stock worth $595,000 after purchasing an additional 1,000 shares in the last quarter. Addison Advisors LLC purchased a new stake in shares of United Dominion Realty Trust in the 2nd quarter worth about $58,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of United Dominion Realty Trust in the 2nd quarter worth about $75,000. Allworth Financial LP bought a new stake in shares of United Dominion Realty Trust during the 2nd quarter valued at about $106,000. Finally, Westpac Banking Corp bought a new stake in shares of United Dominion Realty Trust during the 2nd 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.