United Dominion Realty Trust, Inc. (NYSE:UDR) Shares Sold by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia reduced its stake in United Dominion Realty Trust, Inc. by 21.4%, holding 31,866 shares valued at approximately $1,439,000 after selling 8,663 shares.
• United Dominion Realty Trust's shares fell 1.7% during trading, reaching $38.14, with a market cap of $12.64 billion and a P/E ratio of 100.36.
• The company has announced a quarterly dividend of $0.43 per share, reflecting a yield of 4.5%, with a remarkably high dividend payout ratio of 452.63%.

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

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Spire Wealth Management boosted its position in shares of United Dominion Realty Trust by 3,079.2% in the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 739 shares during the period. Sentry Investment Management LLC acquired a new stake in United Dominion Realty Trust in the first quarter worth about $47,000. Horizon Financial Services LLC bought a new stake in United Dominion Realty Trust in the 1st quarter valued at approximately $51,000. Continuum Advisory LLC increased its position in shares of United Dominion Realty Trust by 38.0% during the 4th quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock worth $55,000 after purchasing an additional 351 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of United Dominion Realty Trust by 61.3% during the 1st quarter. Federated Hermes Inc. now owns 1,323 shares of the real estate investment trust's stock worth $60,000 after acquiring an additional 503 shares during the last quarter. 97.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UDR shares. Evercore ISI cut their target price on United Dominion Realty Trust from $45.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday. Wall Street Zen downgraded United Dominion Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Piper Sandler restated a "neutral" rating and set a $43.00 price objective (down from $48.00) on shares of United Dominion Realty Trust in a research report on Monday, August 4th. Scotiabank dropped 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 research report on Friday, June 13th. Finally, Royal Bank Of Canada upped their price objective on United Dominion Realty Trust from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, United Dominion Realty Trust has a consensus rating of "Hold" and a consensus price target of $45.29.

United Dominion Realty Trust Price Performance

Shares of NYSE:UDR traded up $0.10 during midday trading on Tuesday, hitting $37.60. The company had a trading volume of 286,746 shares, compared to its average volume of 2,243,607. The business's 50-day simple moving average is $40.46 and its 200-day simple moving average is $41.70. 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 cap of $12.46 billion, a price-to-earnings ratio of 99.00, a price-to-earnings-growth ratio of 9.54 and a beta of 0.84. United Dominion Realty Trust, Inc. has a twelve month low of $36.61 and a twelve month high of $47.55.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $422.64 million. During the same period in the previous year, the business earned $0.62 EPS. United Dominion Realty Trust's revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts predict that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current year.

United Dominion Realty Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were paid a $0.43 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.6%. United Dominion Realty Trust's dividend payout ratio (DPR) is 452.63%.

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.