Neuberger Berman Group LLC Lowers Stake in United Dominion Realty Trust, Inc. (NYSE:UDR)

Key Points

• Neuberger Berman Group LLC reduced its stake in United Dominion Realty Trust by 1.9% after selling 16,300 shares, bringing its total ownership to 851,625 shares valued at approximately $38.47 million.
• The company reported $423 million in revenue for the latest quarter, with earnings per share of $0.64, exceeding the consensus estimate of $0.62.
• United Dominion Realty Trust has a current market capitalization of $12.76 billion and recently declared a quarterly dividend of $0.43 per share, yielding 4.5%.

Neuberger Berman Group LLC lowered its position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 851,625 shares of the real estate investment trust's stock after selling 16,300 shares during the period. Neuberger Berman Group LLC owned about 0.26% of United Dominion Realty Trust worth $38,468,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in UDR. Spire Wealth Management boosted its position in United Dominion Realty Trust by 3,079.2% during the 1st quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 739 shares during the period. Sentry Investment Management LLC purchased a new stake in United Dominion Realty Trust during the 1st quarter valued at $47,000. Horizon Financial Services LLC purchased a new stake in United Dominion Realty Trust during the 1st quarter valued at $51,000. National Pension Service boosted its position in United Dominion Realty Trust by 2,553.5% during the 1st quarter. National Pension Service now owns 1,141 shares of the real estate investment trust's stock valued at $52,000 after buying an additional 1,098 shares during the period. Finally, Continuum Advisory LLC boosted its position in United Dominion Realty Trust by 38.0% during the 4th quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock valued at $55,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 97.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on UDR shares. Barclays decreased their price objective on shares of United Dominion Realty Trust from $51.00 to $48.00 and set an "overweight" rating for the company in a report on Tuesday. Mizuho decreased their price objective on shares of United Dominion Realty Trust from $45.00 to $41.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Piper Sandler restated a "neutral" rating and issued a $43.00 price objective (down from $48.00) on shares of United Dominion Realty Trust in a report on Monday, August 4th. Royal Bank Of Canada increased their price target 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. Finally, Wall Street Zen lowered shares of United Dominion Realty Trust from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $45.23.

United Dominion Realty Trust Stock Performance

Shares of UDR traded up $0.43 on Friday, reaching $38.50. The company's stock had a trading volume of 2,043,362 shares, compared to its average volume of 2,455,724. 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 stock has a market capitalization of $12.76 billion, a P/E ratio of 101.32, a PEG ratio of 9.64 and a beta of 0.84. The stock's 50 day simple moving average is $40.24 and its two-hundred day simple moving average is $41.61. United Dominion Realty Trust, Inc. has a 12-month low of $36.61 and a 12-month high of $47.55.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. United Dominion Realty Trust had a net margin of 7.81% and a return on equity of 4.11%. The business had revenue of $423.00 million for the quarter, compared to the consensus estimate of $422.64 million. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The company's revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts forecast that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current fiscal 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. The ex-dividend date was Thursday, July 10th. This represents a $1.72 annualized dividend and a dividend yield of 4.5%. United Dominion Realty Trust's dividend payout ratio (DPR) is presently 452.63%.

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.