Deutsche Bank AG Sells 276,405 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

Key Points

• Deutsche Bank AG sold 276,405 shares of United Dominion Realty Trust, reducing its holdings by 19%, and now owns approximately 1,174,717 shares valued at $53,062,000.
• United Dominion Realty Trust recently declared a quarterly dividend of $0.43 per share, resulting in a 4.6% yield and a significant dividend payout ratio of 452.63%.
• Analysts have downgraded UDR’s price targets, with the average rating now at "Hold" and a price target of $45.57, indicating a cautious outlook amidst recent performance changes.

Deutsche Bank AG lessened its position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,174,717 shares of the real estate investment trust's stock after selling 276,405 shares during the period. Deutsche Bank AG owned 0.35% of United Dominion Realty Trust worth $53,062,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its position in shares of United Dominion Realty Trust by 4.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 23,191 shares of the real estate investment trust's stock valued at $1,048,000 after buying an additional 989 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of United Dominion Realty Trust by 35.1% during the 1st quarter. Yousif Capital Management LLC now owns 65,707 shares of the real estate investment trust's stock valued at $2,968,000 after buying an additional 17,061 shares during the last quarter. Amalgamated Bank lifted its position in shares of United Dominion Realty Trust by 1.6% during the 1st quarter. Amalgamated Bank now owns 59,947 shares of the real estate investment trust's stock valued at $2,708,000 after buying an additional 936 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of United Dominion Realty Trust during the 1st quarter valued at $431,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of United Dominion Realty Trust by 7.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 11,581 shares of the real estate investment trust's stock valued at $523,000 after buying an additional 842 shares during the last quarter. Hedge funds and other institutional investors own 97.82% of the company's stock.

United Dominion Realty Trust Price Performance

Shares of NYSE UDR opened at $37.52 on Tuesday. The firm has a market capitalization of $12.43 billion, a P/E ratio of 98.73, a P/E/G ratio of 9.54 and a beta of 0.84. The company has a quick ratio of 5.22, a current ratio of 5.22 and a debt-to-equity ratio of 1.76. United Dominion Realty Trust, Inc. has a twelve month low of $36.61 and a twelve month high of $47.55. The stock's 50-day simple moving average is $40.46 and its two-hundred day simple moving average is $41.70.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.62 by $0.02. The company had revenue of $423.00 million for the quarter, compared to analysts' expectations of $422.64 million. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. United Dominion Realty Trust's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. As a group, equities analysts anticipate that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current fiscal year.

United Dominion Realty Trust Announces Dividend

The business also recently declared 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. This represents a $1.72 annualized dividend and a yield of 4.6%. The ex-dividend date was Thursday, July 10th. United Dominion Realty Trust's dividend payout ratio (DPR) is presently 452.63%.

Analyst Upgrades and Downgrades

UDR has been the topic of a number of recent research reports. Evercore ISI dropped their price target 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, August 4th. 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 report on Friday, May 23rd. 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 report on Friday, June 13th. Piper Sandler reissued a "neutral" rating and set a $43.00 price objective (down previously from $48.00) on shares of United Dominion Realty Trust in a report on Monday, August 4th. Finally, Wall Street Zen cut United Dominion Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, United Dominion Realty Trust presently has an average rating of "Hold" and an average price target of $45.57.

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.

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