Ritholtz Wealth Management Takes $274,000 Position in United Dominion Realty Trust, Inc. (NYSE:UDR)

Ritholtz Wealth Management acquired a new position in United Dominion Realty Trust, Inc. (NYSE:UDR) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,056 shares of the real estate investment trust’s stock, valued at approximately $274,000.

Several other hedge funds also recently added to or reduced their stakes in UDR. Sentry Investment Management LLC purchased a new position in United Dominion Realty Trust in the first quarter worth approximately $47,000. Smartleaf Asset Management LLC boosted its position in shares of United Dominion Realty Trust by 68.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 491 shares during the period. Continuum Advisory LLC boosted its position in shares of United Dominion Realty Trust by 38.0% during the fourth quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 351 shares during the period. UMB Bank n.a. boosted its position in shares of United Dominion Realty Trust by 47.8% during the first quarter. UMB Bank n.a. now owns 1,342 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 434 shares during the period. Finally, Atlas Capital Advisors Inc. purchased a new position in shares of United Dominion Realty Trust during the fourth quarter worth $114,000. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UDR. Mizuho lowered their price target on United Dominion Realty Trust from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Truist Financial cut United Dominion Realty Trust from a “buy” rating to a “hold” rating and increased their price objective for the company from $45.00 to $46.00 in a research note on Monday, March 10th. Scotiabank reduced their price objective on United Dominion Realty Trust from $51.00 to $48.00 and set a “sector perform” rating on the stock in a research note on Friday, June 13th. Royal Bank Of Canada increased their price objective on United Dominion Realty Trust from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Thursday, May 8th. Finally, Barclays increased their price objective on United Dominion Realty Trust from $48.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.38.

United Dominion Realty Trust Stock Down 0.2%

UDR opened at $41.06 on Friday. The business’s 50-day simple moving average is $41.45 and its 200-day simple moving average is $42.36. The company has a debt-to-equity ratio of 1.77, a quick ratio of 8.35 and a current ratio of 8.35. United Dominion Realty Trust, Inc. has a one year low of $36.61 and a one year high of $47.55. The stock has a market capitalization of $13.60 billion, a P/E ratio of 117.30, a price-to-earnings-growth ratio of 13.70 and a beta of 0.83.

United Dominion Realty Trust (NYSE:UDR) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $419.84 million for the quarter, compared to analysts’ expectations of $421.23 million. United Dominion Realty Trust had a return on equity of 3.73% and a net margin of 7.33%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. Analysts anticipate that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current year.

United Dominion Realty Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend is Thursday, July 10th. United Dominion Realty Trust’s dividend payout ratio (DPR) is presently 491.43%.

United Dominion Realty Trust Company Profile

UDR, Inc (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate communities in targeted U.S.