Davis Selected Advisers Has $7.16 Million Stock Position in United Dominion Realty Trust, Inc. (NYSE:UDR)

Key Points

• Davis Selected Advisers cut its stake in United Dominion Realty Trust by 19.0%, bringing its total holdings to 158,610 shares valued at approximately $7.16 million.
• Multiple institutional investors have increased their positions in UDR, with Invesco Ltd. notably raising its stake by 92.0%.
• United Dominion Realty Trust announced a quarterly dividend of $0.43 per share, translating to an annualized dividend of $1.72 and a yield of 4.4%.

Davis Selected Advisers lessened its holdings in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 19.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,610 shares of the real estate investment trust's stock after selling 37,300 shares during the period. Davis Selected Advisers' holdings in United Dominion Realty Trust were worth $7,164,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of UDR. Capital Research Global Investors grew its position in shares of United Dominion Realty Trust by 64.1% during the 4th quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust's stock valued at $566,940,000 after buying an additional 5,101,668 shares during the last quarter. Invesco Ltd. boosted 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 valued at $327,104,000 after acquiring an additional 3,609,925 shares in the last quarter. Northern Trust Corp boosted 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 valued at $210,711,000 after acquiring an additional 1,706,037 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in United Dominion Realty Trust during the fourth quarter worth approximately $42,073,000. Finally, Waterfront Capital Partners LLC bought a new stake in United Dominion Realty Trust during the fourth quarter worth approximately $26,742,000. Institutional investors own 97.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on UDR. Wall Street Zen cut shares of United Dominion Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday. Barclays upped their price target on shares of 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. 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. Piper Sandler restated a "neutral" rating and issued a $43.00 price target (down previously from $48.00) on shares of United Dominion Realty Trust in a research report on Monday, August 4th. Finally, Evercore ISI reduced 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 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, United Dominion Realty Trust has a consensus rating of "Hold" and a consensus price target of $45.57.

United Dominion Realty Trust Stock Down 1.7%

UDR stock traded down $0.66 during midday trading on Friday, reaching $38.14. The company had a trading volume of 1,680,038 shares, compared to its average volume of 2,487,717. United Dominion Realty Trust, Inc. has a 1 year low of $36.61 and a 1 year high of $47.55. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 1.76. The company has a market capitalization 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 50 day moving average of $40.54 and a two-hundred day moving average of $41.71.

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 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 the consensus estimate of $422.64 million. During the same quarter in the prior year, the firm earned $0.62 EPS. The company's revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current fiscal year.

United Dominion Realty Trust Dividend Announcement

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