US Bancorp DE Raises Stock Holdings in United Dominion Realty Trust, Inc. (NYSE:UDR)

US Bancorp DE raised its position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR) by 21.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,695 shares of the real estate investment trust’s stock after acquiring an additional 1,202 shares during the period. US Bancorp DE’s holdings in United Dominion Realty Trust were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of United Dominion Realty Trust during the 1st quarter worth approximately $301,000. Natixis Advisors LLC raised its holdings in shares of United Dominion Realty Trust by 15.1% during the 1st quarter. Natixis Advisors LLC now owns 200,060 shares of the real estate investment trust’s stock worth $9,037,000 after acquiring an additional 26,234 shares in the last quarter. Bayforest Capital Ltd raised its holdings in shares of United Dominion Realty Trust by 325.9% during the 1st quarter. Bayforest Capital Ltd now owns 5,413 shares of the real estate investment trust’s stock worth $245,000 after acquiring an additional 4,142 shares in the last quarter. Vestcor Inc raised its holdings in shares of United Dominion Realty Trust by 819.5% during the 1st quarter. Vestcor Inc now owns 48,817 shares of the real estate investment trust’s stock worth $2,205,000 after acquiring an additional 43,508 shares in the last quarter. Finally, Nan Fung Trinity HK Ltd. raised its holdings in shares of United Dominion Realty Trust by 4.1% during the 1st quarter. Nan Fung Trinity HK Ltd. now owns 94,800 shares of the real estate investment trust’s stock worth $4,282,000 after acquiring an additional 3,700 shares in the last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.

United Dominion Realty Trust Stock Performance

Shares of United Dominion Realty Trust stock opened at $38.51 on Thursday. United Dominion Realty Trust, Inc. has a one year low of $36.61 and a one year high of $47.55. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 101.34, a PEG ratio of 9.48 and a beta of 0.84. The company has a debt-to-equity ratio of 1.76, a quick ratio of 5.22 and a current ratio of 5.22. The business’s 50 day moving average price is $40.35 and its 200 day moving average price is $41.65.

United Dominion Realty Trust (NYSE:UDR) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The company had revenue of $423.00 million during the quarter, compared to analysts’ expectations of $422.64 million. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. On average, research analysts predict that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current year.

United Dominion Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were paid a $0.43 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.5%. United Dominion Realty Trust’s payout ratio is presently 452.63%.

Analyst Ratings Changes

UDR has been the topic of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $43.00 price objective (down from $48.00) on shares of United Dominion Realty Trust in a report on Monday, August 4th. UBS Group cut their target price on United Dominion Realty Trust from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, July 15th. Evercore ISI cut their target price on United Dominion Realty Trust from $45.00 to $44.00 and set an “outperform” rating on the stock in a research report on Tuesday. Scotiabank cut their target price on United Dominion Realty Trust from $51.00 to $48.00 and set a “sector perform” rating on the stock in a research report on Friday, June 13th. Finally, Wall Street Zen downgraded United Dominion Realty Trust from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, United Dominion Realty Trust currently has a consensus rating of “Hold” and a consensus price target of $45.23.

About United Dominion Realty Trust

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.