United Dominion Realty Trust, Inc. (NYSE:UDR) Position Cut by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its holdings in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 48.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,937 shares of the real estate investment trust's stock after selling 85,159 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in United Dominion Realty Trust were worth $4,153,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Spire Wealth Management increased 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 worth $34,000 after purchasing an additional 739 shares in the last quarter. Sentry Investment Management LLC acquired a new stake in United Dominion Realty Trust in the first quarter valued at approximately $47,000. Horizon Financial Services LLC acquired a new stake in United Dominion Realty Trust in the first quarter valued at approximately $51,000. Continuum Advisory LLC grew its position in 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 in the last quarter. Finally, UMB Bank n.a. grew its position in 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 in the last quarter. Institutional investors and hedge funds own 97.84% of the company's stock.

United Dominion Realty Trust Stock Performance

UDR traded up $0.11 during trading hours on Friday, hitting $40.75. 1,040,992 shares of the stock were exchanged, compared to its average volume of 2,156,652. The stock has a 50-day simple moving average of $41.03 and a 200-day simple moving average of $41.92. 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 cap of $13.50 billion, a price-to-earnings ratio of 116.50, a price-to-earnings-growth ratio of 13.56 and a beta of 0.82. The company has a debt-to-equity ratio of 1.77, a current ratio of 8.35 and a quick ratio of 8.35.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. United Dominion Realty Trust had a return on equity of 3.73% and a net margin of 7.33%. The firm had revenue of $419.84 million for the quarter, compared to analysts' expectations of $421.23 million. During the same period last year, the business posted $0.61 earnings per share. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. Analysts anticipate that United Dominion Realty Trust, Inc. will post 2.51 earnings per share for the current year.

United Dominion Realty Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 4.22%. The ex-dividend date of this dividend is Thursday, July 10th. United Dominion Realty Trust's dividend payout ratio (DPR) is presently 491.43%.

Analyst Upgrades and Downgrades

UDR has been the subject of several recent research reports. 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 research report on Friday, May 23rd. UBS Group lowered their price objective on shares of United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday. Royal Bank Of Canada increased their price objective on shares of 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. 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 research report on Friday, June 13th. Finally, Barclays increased their price objective 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.07.

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.