United Dominion Realty Trust, Inc. (NYSE:UDR) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of United Dominion Realty Trust, Inc. (NYSE:UDR) from a buy rating to a hold rating in a report released on Friday.

According to Zacks, “Shares of UDR outperformed the Zacks categorized REIT – Equity Trust – Residential industry over the past three months. Notably, estimates have been stable lately ahead of the company’s second quarter earnings release. The company has mixed record of surprises in terms of funds from operations (FFO) per share in recent quarters. With a superior portfolio in the targeted U.S. markets and disciplined capital allocation, UDR is well poised for growth. Moreover, focus on enhancing portfolio through expansion in core markets and sale of non-core ones should support momentum. However, new supply and elevated concession levels are likely to make the market choppy in the near term. Additionally, rate hike adds to the company’s woes.”

Several other brokerages have also issued reports on UDR. Evercore ISI lowered shares of United Dominion Realty Trust from an in-line rating to an underperform rating and set a $38.00 target price on the stock. in a research note on Monday, June 12th. BMO Capital Markets reaffirmed a hold rating and issued a $39.00 price objective on shares of United Dominion Realty Trust in a research note on Tuesday, July 4th. BTIG Research lowered shares of United Dominion Realty Trust from a buy rating to a neutral rating in a research note on Friday, June 30th. BidaskClub lowered shares of United Dominion Realty Trust from a strong-buy rating to a buy rating in a research note on Tuesday, July 11th. Finally, Barclays PLC raised their price objective on shares of United Dominion Realty Trust from $36.00 to $37.00 and gave the company an equal weight rating in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. United Dominion Realty Trust currently has an average rating of Hold and a consensus price target of $38.50.

Shares of United Dominion Realty Trust (UDR) traded up 1.02% during midday trading on Friday, hitting $38.55. 688,367 shares of the company were exchanged. United Dominion Realty Trust has a one year low of $32.79 and a one year high of $40.71. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 34.24 and a beta of 0.38. The firm’s 50 day moving average price is $39.03 and its 200 day moving average price is $36.74.

United Dominion Realty Trust (NYSE:UDR) last issued its earnings results on Monday, April 24th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $243.80 million for the quarter, compared to analyst estimates of $240.55 million. United Dominion Realty Trust had a net margin of 31.84% and a return on equity of 10.43%. United Dominion Realty Trust’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. Analysts forecast that United Dominion Realty Trust will post $0.28 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Monday, July 10th will be issued a dividend of $0.31 per share. The ex-dividend date is Thursday, July 6th. This represents a $1.24 dividend on an annualized basis and a yield of 3.22%. United Dominion Realty Trust’s dividend payout ratio (DPR) is presently 109.74%.

In other news, SVP Harry G. Alcock sold 10,000 shares of United Dominion Realty Trust stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $38.72, for a total value of $387,200.00. Following the completion of the transaction, the senior vice president now owns 115,163 shares in the company, valued at $4,459,111.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Warren L. Troupe sold 15,000 shares of United Dominion Realty Trust stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $39.05, for a total transaction of $585,750.00. Following the completion of the transaction, the vice president now owns 561,075 shares of the company’s stock, valued at approximately $21,909,978.75. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $1,934,200 in the last quarter. Corporate insiders own 3.07% of the company’s stock.

Several institutional investors have recently bought and sold shares of UDR. Cleararc Capital Inc. increased its position in United Dominion Realty Trust by 0.9% in the first quarter. Cleararc Capital Inc. now owns 6,543 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 61 shares during the last quarter. Telos Capital Management Inc. raised its position in United Dominion Realty Trust by 0.8% in the first quarter. Telos Capital Management Inc. now owns 18,200 shares of the real estate investment trust’s stock worth $660,000 after buying an additional 145 shares during the period. Pacer Advisors Inc. raised its position in United Dominion Realty Trust by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,000 shares of the real estate investment trust’s stock worth $218,000 after buying an additional 192 shares during the period. Mn Services Vermogensbeheer B.V. raised its position in United Dominion Realty Trust by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,127 shares of the real estate investment trust’s stock worth $242,000 after buying an additional 280 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in United Dominion Realty Trust by 0.7% in the first quarter. Oppenheimer & Co. Inc. now owns 52,756 shares of the real estate investment trust’s stock worth $1,913,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 98.76% of the company’s stock.

About United Dominion Realty Trust

UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.

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