Headlands Technologies LLC Sells 10,931 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

Key Points

• Headlands Technologies LLC significantly reduced its stake in United Dominion Realty Trust by 60.7%, owning 7,063 shares valued at $319,000 after selling 10,931 shares.
• United Dominion Realty Trust's stock has a debt-to-equity ratio of 1.76 and reported earnings of $0.64 per share for the last quarter, exceeding estimates by $0.02.
• The company announced a quarterly dividend of $0.43 per share, reflecting an annualized yield of 4.5%, despite a high dividend payout ratio of 452.63%.

Headlands Technologies LLC cut its holdings in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 60.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,063 shares of the real estate investment trust's stock after selling 10,931 shares during the period. Headlands Technologies LLC's holdings in United Dominion Realty Trust were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management raised its stake in shares of United Dominion Realty Trust by 3,079.2% in the 1st quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 739 shares during the period. Sentry Investment Management LLC acquired a new stake in shares of United Dominion Realty Trust in the 1st quarter valued at about $47,000. Horizon Financial Services LLC acquired a new stake in shares of United Dominion Realty Trust in the 1st quarter valued at about $51,000. Continuum Advisory LLC raised its stake in shares of United Dominion Realty Trust by 38.0% in the 4th quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock valued at $55,000 after purchasing an additional 351 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of United Dominion Realty Trust by 61.3% in the 1st quarter. Federated Hermes Inc. now owns 1,323 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 503 shares during the period. Institutional investors and hedge funds own 97.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on UDR. Morgan Stanley set a $44.50 price target on United Dominion Realty Trust and gave the company an "equal weight" rating in a research note on Wednesday. Scotiabank lowered their price target on United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. Mizuho lowered their price target on United Dominion Realty Trust from $45.00 to $41.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Evercore ISI lowered their price target on United Dominion Realty Trust from $45.00 to $44.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Piper Sandler reissued a "neutral" rating and set 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $45.23.

United Dominion Realty Trust Price Performance

NYSE UDR traded up $0.68 on Wednesday, hitting $38.51. 1,684,024 shares of the company's stock were exchanged, compared to its average volume of 2,247,119. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 101.34, a P/E/G ratio of 9.40 and a beta of 0.84. United Dominion Realty Trust, Inc. has a 52 week low of $36.61 and a 52 week high of $47.55. The stock has a 50-day moving average of $40.40 and a 200-day moving average of $41.67. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 1.76.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last posted 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. 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 the consensus estimate of $422.64 million. During the same period in the prior year, the business posted $0.62 earnings per share. United Dominion Realty Trust's quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current year.

United Dominion Realty Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Thursday, July 10th. United Dominion Realty Trust's dividend payout ratio is 452.63%.

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.