Centersquare Investment Management LLC Reduces Stake in United Dominion Realty Trust, Inc. (NYSE:UDR)

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 decreased its holdings in United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure 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 accounts for approximately 3.9% of Centersquare Investment Management LLC's holdings, making the stock its 7th largest position. Centersquare Investment Management LLC owned approximately 2.54% of United Dominion Realty Trust worth $380,477,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of UDR. Spire Wealth Management boosted 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 valued at $34,000 after buying an additional 739 shares in the last quarter. Sentry Investment Management LLC bought a new position in United Dominion Realty Trust during the first quarter valued at about $47,000. Horizon Financial Services LLC bought a new position in United Dominion Realty Trust during the first quarter valued at about $51,000. Continuum Advisory LLC boosted its stake in United Dominion Realty Trust by 38.0% during the fourth 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. boosted 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 purchasing an additional 503 shares during the period. Institutional investors own 97.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Evercore ISI decreased their price target on United Dominion Realty Trust from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, August 4th. Scotiabank decreased their price target 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. Barclays increased their price target on United Dominion Realty Trust from $48.00 to $51.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. UBS Group decreased their price target on United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Finally, 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $45.57.

United Dominion Realty Trust Stock Down 1.7%

Shares of United Dominion Realty Trust stock traded down $0.66 during trading on Friday, hitting $38.14. 1,680,038 shares of the stock traded hands, compared to its average volume of 2,487,717. The stock has a market cap of $12.64 billion, a P/E ratio of 100.36, a PEG ratio of 9.54 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. United Dominion Realty Trust, Inc. has a twelve month low of $36.61 and a twelve month high of $47.55. The company has a fifty day moving average price of $40.54 and a two-hundred day moving average price of $41.71.

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, beating the consensus estimate of $0.62 by $0.02. The business had revenue of $423.00 million during the quarter, compared to analyst estimates 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 revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. Equities research analysts predict that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current fiscal year.

United Dominion Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Thursday, July 10th. United Dominion Realty Trust's payout ratio is currently 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.