United Dominion Realty Trust, Inc. (NYSE:UDR) was upgraded by equities research analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report released on Thursday, Marketbeat reports. The brokerage presently has a $41.00 target price on the real estate investment trust’s stock. Robert W. Baird’s price target indicates a potential upside of 6.36% from the company’s current price.

Several other brokerages have also recently commented on UDR. Zacks Investment Research cut shares of United Dominion Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, July 14th. Morgan Stanley raised shares of United Dominion Realty Trust from an “underweight” rating to an “equal weight” rating in a research report on Wednesday, August 16th. They noted that the move was a valuation call. BidaskClub lowered shares of United Dominion Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. KeyCorp reissued a “hold” rating on shares of United Dominion Realty Trust in a research report on Friday, August 25th. Finally, Evercore ISI lowered shares of United Dominion Realty Trust from an “in-line” rating to an “underperform” rating and set a $38.00 price target for the company. in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. United Dominion Realty Trust currently has a consensus rating of “Hold” and an average target price of $39.67.

United Dominion Realty Trust (NYSE:UDR) traded up 0.42% during trading on Thursday, hitting $38.55. 1,330,769 shares of the stock were exchanged. The firm has a market cap of $10.31 billion, a PE ratio of 34.86 and a beta of 0.40. United Dominion Realty Trust has a 12-month low of $32.79 and a 12-month high of $40.71. The stock’s 50-day moving average price is $38.75 and its 200-day moving average price is $38.26.

United Dominion Realty Trust (NYSE:UDR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.47 EPS for the quarter, hitting the consensus estimate of $0.47. United Dominion Realty Trust had a net margin of 30.74% and a return on equity of 10.40%. The company had revenue of $247.97 million during the quarter, compared to analysts’ expectations of $244.17 million. During the same period last year, the company posted $0.45 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, equities analysts expect that United Dominion Realty Trust will post $0.25 EPS for the current year.

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In related news, Director Jon A. Grove sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $37.74, for a total transaction of $283,050.00. Following the transaction, the director now owns 452,808 shares of the company’s stock, valued at $17,088,973.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas W. Toomey sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $38.86, for a total transaction of $1,165,800.00. Following the transaction, the chief executive officer now directly owns 1,106,295 shares in the company, valued at approximately $42,990,623.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 67,500 shares of company stock worth $2,586,750. Insiders own 3.07% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. raised its position in United Dominion Realty Trust by 2,403.2% during the first quarter. BlackRock Inc. now owns 29,154,927 shares of the real estate investment trust’s stock valued at $1,057,156,000 after acquiring an additional 27,990,211 shares in the last quarter. Renaissance Technologies LLC raised its position in United Dominion Realty Trust by 28.3% during the first quarter. Renaissance Technologies LLC now owns 4,205,000 shares of the real estate investment trust’s stock valued at $152,473,000 after acquiring an additional 927,200 shares in the last quarter. Dimensional Fund Advisors LP raised its position in United Dominion Realty Trust by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,653,806 shares of the real estate investment trust’s stock valued at $132,486,000 after acquiring an additional 62,984 shares in the last quarter. Geode Capital Management LLC raised its position in United Dominion Realty Trust by 6.9% during the first quarter. Geode Capital Management LLC now owns 3,098,189 shares of the real estate investment trust’s stock valued at $112,206,000 after acquiring an additional 199,849 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in United Dominion Realty Trust by 4.3% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,501,640 shares of the real estate investment trust’s stock valued at $90,710,000 after acquiring an additional 102,317 shares in the last quarter. 97.62% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for United Dominion Realty Trust (NYSE:UDR)

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