Allianz Asset Management GmbH Sells 564,633 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

Allianz Asset Management GmbH lessened its position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 54.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,166 shares of the real estate investment trust's stock after selling 564,633 shares during the quarter. Allianz Asset Management GmbH owned about 0.14% of United Dominion Realty Trust worth $21,147,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in UDR. Norges Bank acquired a new position in shares of United Dominion Realty Trust during the fourth quarter valued at $1,273,442,000. Capital Research Global Investors raised its position in shares of United Dominion Realty Trust by 64.1% during the fourth quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust's stock worth $566,940,000 after purchasing an additional 5,101,668 shares during the period. Invesco Ltd. raised its position in shares of United Dominion Realty Trust by 92.0% during the fourth quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust's stock worth $327,104,000 after purchasing an additional 3,609,925 shares during the period. Northern Trust Corp raised its position in shares of United Dominion Realty Trust by 54.2% during the fourth quarter. Northern Trust Corp now owns 4,853,979 shares of the real estate investment trust's stock worth $210,711,000 after purchasing an additional 1,706,037 shares during the period. Finally, FMR LLC raised its position in shares of United Dominion Realty Trust by 10.5% during the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock worth $546,639,000 after purchasing an additional 1,191,432 shares during the period. Institutional investors and hedge funds own 97.82% of the company's stock.

United Dominion Realty Trust Stock Performance

NYSE:UDR traded down $0.09 during mid-day trading on Friday, hitting $40.43. 1,397,251 shares of the stock were exchanged, compared to its average volume of 1,824,013. The stock has a market capitalization of $13.39 billion, a price-to-earnings ratio of 115.50, a price-to-earnings-growth ratio of 13.51 and a beta of 0.82. The company has a debt-to-equity ratio of 1.77, a quick ratio of 8.35 and a current ratio of 8.35. The firm's 50-day simple moving average is $40.89 and its 200 day simple moving average is $41.85. United Dominion Realty Trust, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $47.55.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $419.84 million during 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 company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. As a group, equities analysts anticipate that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current fiscal year.

United Dominion Realty Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.25%. United Dominion Realty Trust's payout ratio is 491.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group dropped their price target 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. Scotiabank decreased their price objective on United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Evercore ISI set a $46.00 price objective on United Dominion Realty Trust and gave the stock an "outperform" rating in a report on Monday, July 7th. Barclays raised their price target 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. Finally, Mizuho decreased 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 note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.07.

United Dominion Realty Trust 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.