Teacher Retirement System of Texas Cuts Stock Position in United Dominion Realty Trust, Inc. (NYSE:UDR)

Teacher Retirement System of Texas cut its position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 74.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,826 shares of the real estate investment trust's stock after selling 134,235 shares during the period. Teacher Retirement System of Texas' holdings in United Dominion Realty Trust were worth $2,070,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in UDR. Townsquare Capital LLC grew its stake in United Dominion Realty Trust by 4.8% in the fourth quarter. Townsquare Capital LLC now owns 5,173 shares of the real estate investment trust's stock valued at $225,000 after purchasing an additional 237 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of 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 worth $55,000 after acquiring an additional 351 shares in the last quarter. Integrity Wealth Solutions LLC lifted its position in United Dominion Realty Trust by 5.6% during the first quarter. Integrity Wealth Solutions LLC now owns 6,766 shares of the real estate investment trust's stock valued at $306,000 after acquiring an additional 357 shares during the last quarter. UMB Bank n.a. lifted its position in United Dominion Realty Trust by 47.8% during 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 last quarter. Finally, Spirit of America Management Corp NY boosted its stake in United Dominion Realty Trust by 1.1% in the first quarter. Spirit of America Management Corp NY now owns 46,100 shares of the real estate investment trust's stock valued at $2,082,000 after acquiring an additional 500 shares in the last quarter. 97.84% of the stock is owned by hedge funds and other institutional investors.

United Dominion Realty Trust Price Performance

UDR stock traded down $0.12 during mid-day trading on Friday, reaching $40.37. The company's stock had a trading volume of 1,193,921 shares, compared to its average volume of 2,178,706. The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 1.77. The company's 50 day moving average is $41.21 and its two-hundred day moving average is $41.99. United Dominion Realty Trust, Inc. has a fifty-two week low of $36.61 and a fifty-two week high of $47.55. The stock has a market cap of $13.37 billion, a PE ratio of 115.34, a P/E/G ratio of 13.47 and a beta of 0.82.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $419.84 million for the quarter, compared to analyst estimates of $421.23 million. United Dominion Realty Trust had a return on equity of 3.73% and a net margin of 7.33%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 EPS. Equities research analysts expect 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 disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.26%. United Dominion Realty Trust's payout ratio is currently 491.43%.

Analyst Ratings Changes

Several brokerages have weighed in on UDR. Barclays raised their price target on United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Evercore ISI set a $46.00 target price on shares of United Dominion Realty Trust and gave the stock an "outperform" rating in a research report on Monday, July 7th. Mizuho cut 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 note on Friday, May 23rd. Royal Bank Of Canada raised 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 report on Thursday, May 8th. Finally, 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 note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, United Dominion Realty Trust presently has an average rating of "Hold" and an average price target of $46.44.

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.