United Dominion Realty Trust, Inc. (NYSE:UDR) Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. reduced its position in United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 46.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 679,400 shares of the real estate investment trust's stock after selling 583,901 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.21% of United Dominion Realty Trust worth $30,688,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of United Dominion Realty Trust in the 4th quarter worth $1,273,442,000. Capital Research Global Investors boosted its holdings in 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 acquiring an additional 5,101,668 shares in the last quarter. Invesco Ltd. grew its stake in shares of United Dominion Realty Trust by 92.0% during the fourth quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust's stock worth $327,104,000 after acquiring an additional 3,609,925 shares during the last quarter. Northern Trust Corp grew its stake in shares of United Dominion Realty Trust by 54.2% during 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 acquiring an additional 1,706,037 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of United Dominion Realty Trust by 10.5% during the fourth quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust's stock valued at $546,639,000 after acquiring an additional 1,191,432 shares in the last quarter. 97.82% of the stock is owned by institutional investors and hedge funds.

United Dominion Realty Trust Stock Performance

NYSE:UDR traded down $0.49 during trading hours on Thursday, reaching $40.52. The company had a trading volume of 2,005,861 shares, compared to its average volume of 1,836,786. United Dominion Realty Trust, Inc. has a 1-year low of $36.61 and a 1-year high of $47.55. The firm has a market cap of $13.43 billion, a PE ratio of 115.78, a price-to-earnings-growth ratio of 13.67 and a beta of 0.82. The business's 50 day moving average price is $40.93 and its 200-day moving average price is $41.85. The company has a debt-to-equity ratio of 1.77, a current ratio of 8.35 and a quick ratio of 8.35.

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

United Dominion Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be issued a $0.43 dividend. The ex-dividend date is Thursday, July 10th. This represents a $1.72 dividend on an annualized basis and a yield of 4.24%. United Dominion Realty Trust's payout ratio is 491.43%.

Wall Street Analysts Forecast Growth

UDR has been the topic of several research analyst reports. UBS Group dropped their target price on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their price objective on shares of 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. Barclays upped their target price 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. Mizuho reduced their target price on United Dominion Realty Trust from $45.00 to $41.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Evercore ISI set a $46.00 price target on United Dominion Realty Trust and gave the stock an "outperform" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $46.07.

United Dominion Realty Trust 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.