Bank of Nova Scotia Has $1.44 Million Stock Holdings in United Dominion Realty Trust, Inc. (NYSE:UDR)

Bank of Nova Scotia decreased its holdings in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 21.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 31,866 shares of the real estate investment trust's stock after selling 8,663 shares during the period. Bank of Nova Scotia's holdings in United Dominion Realty Trust were worth $1,439,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in UDR. Capital Research Global Investors grew its stake 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. boosted its holdings in 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 buying an additional 3,609,925 shares during the last quarter. Northern Trust Corp grew its position in shares of United Dominion Realty Trust by 54.2% during the 4th quarter. Northern Trust Corp now owns 4,853,979 shares of the real estate investment trust's stock worth $210,711,000 after buying an additional 1,706,037 shares during the period. Dimensional Fund Advisors LP grew its position in shares of United Dominion Realty Trust by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,757,032 shares of the real estate investment trust's stock worth $206,501,000 after buying an additional 44,599 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of United Dominion Realty Trust by 3.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,207,420 shares of the real estate investment trust's stock valued at $139,234,000 after acquiring an additional 120,456 shares during the last quarter. Institutional investors and hedge funds own 97.82% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on UDR shares. UBS Group reduced their price objective on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Piper Sandler reissued a "neutral" rating and set a $43.00 price target (down from $48.00) on shares of United Dominion Realty Trust in a research report on Monday. Evercore ISI decreased their price target on shares of United Dominion Realty Trust from $46.00 to $45.00 and set an "outperform" rating for the company in a report on Monday. Royal Bank Of Canada upped their price objective on shares of United Dominion Realty Trust from $43.00 to $44.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Finally, Barclays lifted their target price on United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.57.

United Dominion Realty Trust Stock Up 1.2%

UDR stock opened at $38.81 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 5.22 and a quick ratio of 5.22. The stock has a market capitalization of $12.86 billion, a P/E ratio of 102.12, a P/E/G ratio of 9.60 and a beta of 0.84. United Dominion Realty Trust, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $47.55. The business has a 50-day moving average of $40.61 and a 200-day moving average of $41.73.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last released its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The firm had revenue of $423.00 million for the quarter, compared to analysts' expectations of $422.64 million. During the same quarter in the previous year, the business posted $0.62 EPS. The business's quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current fiscal year.

United Dominion Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were issued a dividend of $0.43 per share. The ex-dividend date was Thursday, July 10th. This represents a $1.72 annualized dividend and a yield of 4.4%. United Dominion Realty Trust's dividend payout ratio is presently 452.63%.

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.

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