Bank of New York Mellon Corp Sells 36,071 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

Bank of New York Mellon Corp lessened its position in United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 1.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,248,597 shares of the real estate investment trust's stock after selling 36,071 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.68% of United Dominion Realty Trust worth $101,569,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management raised its position in United Dominion Realty Trust by 3,079.2% in 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 last quarter. Sentry Investment Management LLC acquired a new stake in United Dominion Realty Trust in the 1st quarter valued at approximately $47,000. Horizon Financial Services LLC acquired a new stake in United Dominion Realty Trust in the 1st quarter valued at approximately $51,000. Continuum Advisory LLC raised its position in United Dominion Realty Trust by 38.0% in 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 last quarter. Finally, UMB Bank n.a. raised its position in United Dominion Realty Trust by 47.8% in the 1st quarter. UMB Bank n.a. now owns 1,342 shares of the real estate investment trust's stock valued at $61,000 after buying an additional 434 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on UDR shares. Barclays boosted their price target on United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Mizuho lowered their price target on 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. Scotiabank lowered their price target on United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating on the stock in a research report on Friday, June 13th. Evercore ISI set a $46.00 price target on United Dominion Realty Trust and gave the stock an "outperform" rating in a research report on Monday, July 7th. Finally, Royal Bank Of Canada boosted their price target on United Dominion Realty Trust from $43.00 to $44.00 and gave the stock a "sector perform" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, United Dominion Realty Trust has an average rating of "Hold" and a consensus price target of $46.44.

United Dominion Realty Trust Stock Performance

Shares of UDR stock traded down $0.12 during trading on Friday, reaching $40.37. 1,193,921 shares of the company's stock were exchanged, compared to its average volume of 2,178,706. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $13.37 billion, a PE ratio of 115.34, a PEG ratio of 13.47 and a beta of 0.82. United Dominion Realty Trust, Inc. has a twelve month low of $36.61 and a twelve month high of $47.55. The firm's fifty day moving average price is $41.21 and its 200-day moving average price is $41.99.

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

United Dominion Realty Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $1.72 annualized dividend and a yield of 4.26%. United Dominion Realty Trust's dividend payout ratio (DPR) 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.