CPA Asset Management LLC Trims Stock Holdings in United Dominion Realty Trust, Inc. (NYSE:UDR)

CPA Asset Management LLC cut its stake in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 19.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,962 shares of the real estate investment trust's stock after selling 6,690 shares during the period. United Dominion Realty Trust accounts for about 0.6% of CPA Asset Management LLC's portfolio, making the stock its 27th biggest position. CPA Asset Management LLC's holdings in United Dominion Realty Trust were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of United Dominion Realty Trust in the fourth quarter worth approximately $1,273,442,000. Capital Research Global Investors raised its holdings in shares of United Dominion Realty Trust by 64.1% in 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 buying an additional 5,101,668 shares during the period. Invesco Ltd. raised its holdings in shares of United Dominion Realty Trust by 92.0% in 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 period. Northern Trust Corp raised its holdings in shares of United Dominion Realty Trust by 54.2% in 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 buying an additional 1,706,037 shares during the period. Finally, FMR LLC raised its holdings in shares of United Dominion Realty Trust by 10.5% in the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock worth $546,639,000 after buying an additional 1,191,432 shares during the period. 97.84% of the stock is currently owned by hedge funds and other institutional investors.

United Dominion Realty Trust Stock Up 0.9%

NYSE UDR traded up $0.36 during midday trading on Monday, hitting $41.40. 2,723,396 shares of the company traded hands, compared to its average volume of 2,168,053. United Dominion Realty Trust, Inc. has a 52 week low of $36.61 and a 52 week high of $47.55. The company's 50-day simple moving average is $41.46 and its 200-day simple moving average is $42.30. The company has a debt-to-equity ratio of 1.77, a current ratio of 8.35 and a quick ratio of 8.35. The company has a market cap of $13.72 billion, a PE ratio of 118.29, a price-to-earnings-growth ratio of 13.67 and a beta of 0.83.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. United Dominion Realty Trust had a return on equity of 3.73% and a net margin of 7.33%. The firm had revenue of $419.84 million during the quarter, compared to analyst estimates of $421.23 million. During the same quarter in the prior year, the business posted $0.61 EPS. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts forecast that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current year.

United Dominion Realty Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.15%. United Dominion Realty Trust's dividend payout ratio is presently 491.43%.

Analyst Ratings Changes

UDR has been the topic of several recent analyst reports. Barclays increased their price target 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. Mizuho dropped their price objective on United Dominion Realty Trust from $45.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Truist Financial cut United Dominion Realty Trust from a "buy" rating to a "hold" rating and increased their price objective for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. Scotiabank dropped their price objective on United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Friday, June 13th. Finally, Royal Bank Of Canada increased 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 note on Thursday, May 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $46.38.

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.