New York State Teachers Retirement System Sells 50,223 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

New York State Teachers Retirement System lessened its stake in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 16.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 250,934 shares of the real estate investment trust's stock after selling 50,223 shares during the period. New York State Teachers Retirement System owned about 0.08% of United Dominion Realty Trust worth $11,335,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Spire Wealth Management increased its stake in shares of United Dominion Realty Trust by 3,079.2% in the first quarter. Spire Wealth Management now owns 763 shares of the real estate investment trust's stock worth $34,000 after purchasing an additional 739 shares in the last quarter. Sentry Investment Management LLC purchased a new position in shares of United Dominion Realty Trust in the first quarter worth about $47,000. Smartleaf Asset Management LLC increased its stake in shares of United Dominion Realty Trust by 68.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 491 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of United Dominion Realty Trust by 38.0% in the fourth quarter. Continuum Advisory LLC now owns 1,275 shares of the real estate investment trust's stock valued at $55,000 after acquiring an additional 351 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of United Dominion Realty Trust by 47.8% in the first quarter. UMB Bank n.a. now owns 1,342 shares of the real estate investment trust's stock valued at $61,000 after acquiring an additional 434 shares during the period. Hedge funds and other institutional investors own 97.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UDR. Barclays lifted their target price on shares of 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. Evercore ISI set a $46.00 target price on shares of United Dominion Realty Trust and gave the company an "outperform" rating in a research report on Monday. Royal Bank Of Canada boosted 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 report on Thursday, May 8th. Scotiabank lowered their price objective on shares of United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Finally, Mizuho lowered 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.44.

United Dominion Realty Trust Trading Up 0.3%

United Dominion Realty Trust stock traded up $0.11 during mid-day trading on Monday, reaching $40.91. 2,518,986 shares of the company traded hands, compared to its average volume of 2,183,179. The company has a debt-to-equity ratio of 1.77, a current ratio of 8.35 and a quick ratio of 8.35. The firm's 50 day moving average price is $41.35 and its 200 day moving average price is $42.06. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 116.89, a P/E/G ratio of 13.60 and a beta of 0.82. United Dominion Realty Trust, Inc. has a 52-week low of $36.61 and a 52-week high of $47.55.

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

United Dominion Realty Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Thursday, July 10th. United Dominion Realty Trust's dividend payout ratio is presently 491.43%.

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.