United Dominion Realty Trust, Inc. (NYSE:UDR) is Centersquare Investment Management LLC's 7th Largest Position

Key Points

• Centersquare Investment Management LLC reduced its position in United Dominion Realty Trust (UDR) by 6.3%, selling 569,988 shares during the first quarter, which now constitutes 3.9% of its investment portfolio.
• Several institutional investors have made significant adjustments to their stakes in UDR, with Spire Wealth Management notably increasing its stake by 3,079.2% in the same period.
• The company's quarterly earnings report showed a net margin of 7.81% and a revenue increase of 2.4% year-over-year, along with a recently declared dividend of $0.43 per share.

Centersquare Investment Management LLC reduced its holdings in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,423,229 shares of the real estate investment trust's stock after selling 569,988 shares during the quarter. United Dominion Realty Trust makes up 3.9% of Centersquare Investment Management LLC's investment portfolio, making the stock its 7th biggest holding. Centersquare Investment Management LLC owned about 2.54% of United Dominion Realty Trust worth $380,477,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in UDR. Spire Wealth Management lifted its stake in United Dominion Realty Trust by 3,079.2% during the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 739 shares during the last quarter. Sentry Investment Management LLC acquired a new stake in United Dominion Realty Trust during the first quarter worth approximately $47,000. Horizon Financial Services LLC purchased a new stake in shares of United Dominion Realty Trust during the 1st quarter worth approximately $51,000. Continuum Advisory LLC boosted its holdings in shares of United Dominion Realty Trust by 38.0% in the 4th quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 351 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in shares of United Dominion Realty Trust by 61.3% in the 1st quarter. Federated Hermes Inc. now owns 1,323 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 503 shares during the last quarter. Hedge funds and other institutional investors own 97.82% of the company's stock.

United Dominion Realty Trust Stock Performance

NYSE UDR traded up $0.48 on Thursday, hitting $38.81. 2,133,344 shares of the company's stock were exchanged, compared to its average volume of 2,482,451. United Dominion Realty Trust, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $47.55. 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 firm's 50-day moving average price is $40.61 and its two-hundred day moving average price is $41.73. The firm has a market cap of $12.86 billion, a price-to-earnings ratio of 102.12, a P/E/G ratio of 9.60 and a beta of 0.84.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its 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 net margin of 7.81% and a return on equity of 4.11%. The company had revenue of $423.00 million during the quarter, compared to analysts' expectations of $422.64 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts expect that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current year.

United Dominion Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were given 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 452.63%.

Wall Street Analyst Weigh In

UDR has been the subject of a number of research reports. Mizuho reduced their price target on shares of 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. Evercore ISI cut their target price on United Dominion Realty Trust from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Monday. Scotiabank reduced their target price 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. 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 note on Tuesday, July 15th. Finally, Barclays boosted 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 equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $45.57.

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.