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

United Dominion Realty Trust, Inc. (NYSE:UDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, July 14th.

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.”

A number of other equities analysts have also recently issued reports on UDR. Barclays PLC boosted 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 report on Wednesday, April 19th. Cantor Fitzgerald restated a “buy” rating and issued a $39.00 price objective on shares of United Dominion Realty Trust in a research report on Monday, April 24th. BTIG Research boosted their price objective on shares of United Dominion Realty Trust from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, April 24th. BMO Capital Markets set a $39.00 price objective on shares of United Dominion Realty Trust and gave the company a “hold” rating in a research report on Thursday, May 25th. Finally, Evercore ISI cut shares of United Dominion Realty Trust from an “in-line” rating to an “underperform” rating and set a $38.00 price target on the stock. in a research report on Monday, June 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.67.

Shares of United Dominion Realty Trust (NYSE:UDR) opened at 38.47 on Friday. The firm’s 50-day moving average is $38.81 and its 200-day moving average is $37.38. United Dominion Realty Trust has a 12 month low of $32.79 and a 12 month high of $40.71. The company has a market cap of $10.29 billion, a PE ratio of 34.78 and a beta of 0.38.

United Dominion Realty Trust (NYSE:UDR) last released its quarterly earnings data on Wednesday, July 26th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. United Dominion Realty Trust had a net margin of 30.74% and a return on equity of 10.40%. The firm had revenue of $247.97 million for the quarter, compared to analysts’ expectations of $244.17 million. During the same quarter in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that United Dominion Realty Trust will post $0.25 earnings per share for the current year.

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In related news, SVP Harry G. Alcock sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $38.72, for a total transaction of $387,200.00. Following the sale, the senior vice president now owns 115,163 shares of the company’s stock, valued at $4,459,111.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas W. Toomey sold 25,000 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $38.45, for a total transaction of $961,250.00. Following the sale, the chief executive officer now directly owns 1,136,295 shares in the company, valued at approximately $43,690,542.75. The disclosure for this sale can be found here. Insiders have sold 50,000 shares of company stock worth $1,934,200 in the last three months. 3.07% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of UDR. Sanctuary Wealth Advisors LLC raised its stake in United Dominion Realty Trust by 100.0% in the first quarter. Sanctuary Wealth Advisors LLC now owns 3,402 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 1,701 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of United Dominion Realty Trust by 11.4% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 5,646 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 577 shares in the last quarter. Tiedemann Wealth Management LLC purchased a new position in shares of United Dominion Realty Trust during the first quarter valued at about $207,000. Princeton Alpha Management LP purchased a new position in shares of United Dominion Realty Trust during the first quarter valued at about $216,000. Finally, Pacer Advisors Inc. increased its position in shares of 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 valued at $218,000 after buying an additional 192 shares in the last quarter. 98.33% of the stock is currently owned by institutional investors and hedge funds.

United Dominion Realty Trust Company Profile

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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