United Dominion Realty Trust, Inc. (NYSE:UDR) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 495,133 shares of the real estate investment trust's stock after selling 17,407 shares during the period. Principal Financial Group Inc. owned about 0.15% of United Dominion Realty Trust worth $22,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in UDR. Yousif Capital Management LLC increased its position in United Dominion Realty Trust by 35.1% in the first quarter. Yousif Capital Management LLC now owns 65,707 shares of the real estate investment trust's stock worth $2,968,000 after buying an additional 17,061 shares during the period. Amalgamated Bank increased its position in United Dominion Realty Trust by 1.6% in the first quarter. Amalgamated Bank now owns 59,947 shares of the real estate investment trust's stock worth $2,708,000 after buying an additional 936 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in United Dominion Realty Trust in the first quarter worth $431,000. Wealth Enhancement Advisory Services LLC increased its position in United Dominion Realty Trust by 7.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,581 shares of the real estate investment trust's stock worth $523,000 after buying an additional 842 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in United Dominion Realty Trust by 25.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 27,882 shares of the real estate investment trust's stock worth $1,259,000 after buying an additional 5,634 shares during the period. 97.84% of the stock is owned by institutional investors and hedge funds.

United Dominion Realty Trust Price Performance

NYSE UDR traded down $0.12 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. United Dominion Realty Trust, Inc. has a twelve month low of $36.61 and a twelve month high of $47.55. The company has a debt-to-equity ratio of 1.77, a quick ratio of 8.35 and a current ratio of 8.35. The stock has a market cap of $13.37 billion, a PE ratio of 115.34, a PEG ratio of 13.47 and a beta of 0.82. The firm's 50 day moving average is $41.21 and its two-hundred day moving average is $41.99.

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

United Dominion Realty Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Thursday, July 10th. United Dominion Realty Trust's dividend payout ratio is presently 491.43%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on UDR shares. Evercore ISI set a $46.00 target price on United Dominion Realty Trust and gave the stock an "outperform" rating in a research report on Monday, July 7th. Royal Bank Of Canada increased their target price 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. Scotiabank cut their price objective on shares of United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating on the stock in a research note on Friday, June 13th. Mizuho reduced 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. Finally, Barclays upped their price objective on shares of United Dominion Realty Trust from $48.00 to $51.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus 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.