United Dominion Realty Trust, Inc. (NYSE:UDR) Shares Bought by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in United Dominion Realty Trust by 819.5% in the first quarter, now holding 48,817 shares valued at approximately $2,205,000.
• United Dominion Realty Trust's quarterly earnings exceeded analyst expectations, reporting $0.64 EPS compared to a consensus estimate of $0.62.
• The company recently announced a quarterly dividend of $0.43, representing an annualized yield of 4.4% and a high dividend payout ratio of 491.43%.

Vestcor Inc lifted its holdings in shares of United Dominion Realty Trust, Inc. (NYSE:UDR - Free Report) by 819.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,817 shares of the real estate investment trust's stock after acquiring an additional 43,508 shares during the quarter. Vestcor Inc's holdings in United Dominion Realty Trust were worth $2,205,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in United Dominion Realty Trust by 4.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 23,191 shares of the real estate investment trust's stock worth $1,048,000 after buying an additional 989 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in United Dominion Realty Trust by 35.1% during the 1st 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 last quarter. Amalgamated Bank lifted its holdings in United Dominion Realty Trust by 1.6% during the 1st 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 last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in United Dominion Realty Trust during the 1st quarter worth approximately $431,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in United Dominion Realty Trust by 7.8% during the 1st 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 last quarter. 97.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Evercore ISI set a $46.00 target price on United Dominion Realty Trust and gave the company an "outperform" rating in a report on Monday, July 7th. UBS Group lowered their target price on United Dominion Realty Trust from $50.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Scotiabank lowered their target price on United Dominion Realty Trust from $51.00 to $48.00 and set a "sector perform" rating for the company in a report on Friday, June 13th. Royal Bank Of Canada upped their target price on United Dominion Realty Trust from $43.00 to $44.00 and gave the company a "sector perform" rating in a report on Thursday, May 8th. Finally, Mizuho lowered their target price on 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. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $46.07.

United Dominion Realty Trust Stock Performance

Shares of NYSE UDR traded down $0.59 during midday trading on Friday, hitting $38.70. 4,145,087 shares of the company's stock were exchanged, compared to its average volume of 2,169,282. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.88 and a quick ratio of 8.35. The stock's 50 day moving average price is $40.78 and its 200-day moving average price is $41.82. The firm has a market cap of $12.82 billion, a P/E ratio of 101.84, a PEG ratio of 13.07 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.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. The business had revenue of $423.00 million during the quarter, compared to the consensus estimate of $422.64 million. United Dominion Realty Trust had a return on equity of 4.11% and a net margin of 7.81%. The business's revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. Equities research 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Thursday, July 10th. United Dominion Realty Trust's dividend payout ratio is 452.63%.

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.