Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases New Shares in United Dominion Realty Trust, Inc. (NYSE:UDR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 6,658 shares of the real estate investment trust's stock, valued at approximately $301,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky raised its holdings in 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 worth $1,048,000 after purchasing an additional 989 shares during the last quarter. Yousif Capital Management LLC raised its holdings in 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 worth $2,968,000 after purchasing an additional 17,061 shares during the last quarter. Amalgamated Bank raised its holdings in 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 worth $2,708,000 after purchasing an additional 936 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in United Dominion Realty Trust during the 1st quarter worth about $431,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in 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 worth $523,000 after purchasing an additional 842 shares during the last quarter. 97.82% of the stock is owned by institutional investors.

United Dominion Realty Trust Price Performance

Shares of UDR opened at $38.70 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 5.22 and a current ratio of 5.22. The stock has a 50 day simple moving average of $40.76 and a 200 day simple moving average of $41.81. United Dominion Realty Trust, Inc. has a 52-week low of $36.61 and a 52-week high of $47.55. The firm has a market capitalization of $12.82 billion, a PE ratio of 101.84, a P/E/G ratio of 12.87 and a beta of 0.84.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last issued its quarterly earnings data 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. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The business had revenue of $423.00 million during the quarter, compared to analyst estimates of $422.64 million. During the same period in the previous year, the firm earned $0.62 EPS. United Dominion Realty Trust's quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were given a $0.43 dividend. The ex-dividend date was Thursday, July 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.4%. United Dominion Realty Trust's payout ratio is currently 452.63%.

Analyst Ratings Changes

Several analysts have weighed in on UDR shares. Barclays boosted their price objective 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. UBS Group dropped their price objective on United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Royal Bank Of Canada boosted their target price on United Dominion Realty Trust from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. Mizuho decreased 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 report on Friday, May 23rd. Finally, Scotiabank decreased their target price 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. 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 company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $46.07.

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.

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