Invesco Ltd. Buys 1,619,997 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

Key Points

• Invesco Ltd. increased its stake in United Dominion Realty Trust by 21.5%, acquiring nearly 1.62 million more shares, bringing its total holdings to over 9 million shares valued at approximately $414 million.
• Despite the recent purchase, UDR stock experienced a drop of 1.7%, with a current price around $38.14 and a market cap of $12.64 billion.
• United Dominion Realty Trust announced a quarterly dividend of $0.43, representing a 4.5% yield, although its dividend payout ratio is notably high at 452.63%.

Invesco Ltd. boosted its position in United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 21.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,155,231 shares of the real estate investment trust's stock after purchasing an additional 1,619,997 shares during the quarter. Invesco Ltd. owned about 2.76% of United Dominion Realty Trust worth $413,542,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN lifted its position in shares of United Dominion Realty Trust by 3.5% during the 4th quarter. Wells Fargo & Company MN now owns 81,458 shares of the real estate investment trust's stock valued at $3,536,000 after acquiring an additional 2,737 shares during the period. Bank of Nova Scotia lifted its position in shares of United Dominion Realty Trust by 3.9% during the 4th quarter. Bank of Nova Scotia now owns 40,529 shares of the real estate investment trust's stock valued at $1,759,000 after acquiring an additional 1,507 shares during the period. Raymond James Financial Inc. bought a new stake in shares of United Dominion Realty Trust during the 4th quarter valued at $22,662,000. Capital Fund Management S.A. bought a new stake in shares of United Dominion Realty Trust during the 4th quarter valued at $3,794,000. Finally, Treasurer of the State of North Carolina lifted its position in shares of United Dominion Realty Trust by 3.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 147,817 shares of the real estate investment trust's stock valued at $6,417,000 after acquiring an additional 4,370 shares during the period. 97.82% of the stock is currently owned by institutional investors.

United Dominion Realty Trust Price Performance

UDR stock traded up $0.68 during mid-day trading on Wednesday, hitting $38.51. 1,684,057 shares of the stock were exchanged, compared to its average volume of 2,485,770. The company has a debt-to-equity ratio of 1.76, a current ratio of 5.22 and a quick ratio of 5.22. The business has a fifty day moving average price of $40.35 and a 200 day moving average price of $41.65. United Dominion Realty Trust, Inc. has a 12 month low of $36.61 and a 12 month high of $47.55. The stock has a market capitalization of $12.76 billion, a price-to-earnings ratio of 101.34, a PEG ratio of 9.48 and a beta of 0.84.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $423.00 million for the quarter, compared to the consensus estimate of $422.64 million. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The company's quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 earnings per share. On average, sell-side analysts anticipate that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current year.

United Dominion Realty Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given a $0.43 dividend. 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 payout ratio is currently 452.63%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays cut their target price on United Dominion Realty Trust from $51.00 to $48.00 and set an "overweight" rating for the company in a research report on Tuesday. Wall Street Zen downgraded United Dominion Realty Trust from a "hold" rating to a "sell" rating in a research report on Saturday. Royal Bank Of Canada upped their target price on United Dominion Realty Trust from $43.00 to $44.00 and gave the company a "sector perform" rating in a research report on Thursday, May 8th. Morgan Stanley set a $44.50 target price on United Dominion Realty Trust and gave the company an "equal weight" rating in a research report on Wednesday. Finally, Evercore ISI dropped their price objective on United Dominion Realty Trust from $45.00 to $44.00 and set an "outperform" rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $45.23.

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.