Nuveen LLC Takes Position in United Dominion Realty Trust, Inc. $UDR

Key Points

• Nuveen LLC acquired approximately $79 million worth of shares in United Dominion Realty Trust (UDR), making up 0.53% of the company's stock portfolio as of the latest SEC filing.
• United Dominion Realty Trust reported $0.64 earnings per share for the last quarter, surpassing analyst estimates, along with a 2.4% increase in quarterly revenue compared to the same period last year.
• The company declared a $0.43 quarterly dividend, representing an annualized yield of 4.5%, but currently carries a high dividend payout ratio of 452.63%.

Nuveen LLC bought a new stake in United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,759,719 shares of the real estate investment trust's stock, valued at approximately $79,487,000. Nuveen LLC owned 0.53% of United Dominion Realty Trust as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Spire Wealth Management grew its stake in 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 valued at $34,000 after acquiring an additional 739 shares during the period. Sentry Investment Management LLC bought a new stake in United Dominion Realty Trust during the 1st quarter valued at $47,000. Horizon Financial Services LLC acquired a new position in United Dominion Realty Trust during the first quarter worth $51,000. Continuum Advisory LLC lifted its stake 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 buying an additional 351 shares in the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of United Dominion Realty Trust by 61.3% during the first quarter. Federated Hermes Inc. now owns 1,323 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 503 shares during the last quarter. Institutional investors own 97.82% of the company's stock.

United Dominion Realty Trust Stock Performance

Shares of UDR traded down $0.14 during trading hours on Monday, hitting $38.38. The company's stock had a trading volume of 422,218 shares, compared to its average volume of 2,228,246. The business has a 50 day simple moving average of $40.24 and a two-hundred day simple moving average of $41.62. United Dominion Realty Trust, Inc. has a 52-week low of $36.61 and a 52-week high of $47.55. 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 company has a market cap of $12.72 billion, a price-to-earnings ratio of 101.01, a PEG ratio of 9.64 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. United Dominion Realty Trust had a net margin of 7.81% and a return on equity of 4.11%. The company had revenue of $423.00 million during the quarter, compared to the consensus estimate of $422.64 million. During the same period last year, the firm earned $0.62 EPS. United Dominion Realty Trust's revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts expect 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $1.72 dividend on an annualized basis and a yield of 4.5%. United Dominion Realty Trust's dividend payout ratio is 452.63%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on UDR. Mizuho dropped their price target on shares of 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. UBS Group dropped their target price on United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen downgraded United Dominion Realty Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Piper Sandler restated a "neutral" rating and set a $43.00 price objective (down from $48.00) on shares of United Dominion Realty Trust in a research note on Monday, August 4th. Finally, Morgan Stanley set a $44.50 price objective on shares of United Dominion Realty Trust and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $45.23.

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.