United Dominion Realty Trust (NYSE:UDR) Stock Crosses Below Two Hundred Day Moving Average Following Insider Selling

Key Points

• UDR shares fell below their 200-day moving average, trading as low as $36.10 versus the $36.80 average, and last changed hands at $36.594.
• COO Michael Lacy sold 10,000 shares for $364,800, reducing his direct holding by 92.74% to 783 shares.
• Analysts have a consensus Hold rating and an average $40.10 price target. UDR also announced a monthly dividend of $0.145 per share, equivalent to a 4.8% annualized yield.

United Dominion Realty Trust, Inc. (NYSE:UDR - Get Free Report) passed below its 200-day moving average during trading on Friday after an insider sold shares in the company. The stock has a 200-day moving average of $36.80 and traded as low as $36.10. United Dominion Realty Trust shares last traded at $36.5940, with a volume of 4,790,736 shares changing hands.

Specifically, COO Michael Lacy sold 10,000 shares of the company's stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $36.48, for a total value of $364,800.00. Following the completion of the sale, the chief operating officer directly owned 783 shares of the company's stock, valued at $28,563.84. This represents a 92.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Jefferies Financial Group upgraded shares of United Dominion Realty Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. Scotiabank lowered their price target on shares of United Dominion Realty Trust from $41.00 to $38.00 and set a "sector perform" rating on the stock in a research report on Thursday, September 17th. Evercore set a $41.00 target price on shares of United Dominion Realty Trust in a research report on Monday, September 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $44.00 target price on shares of United Dominion Realty Trust in a report on Friday, August 14th. Finally, Piper Sandler reduced their price target on shares of United Dominion Realty Trust from $41.00 to $36.00 and set a "neutral" rating on the stock in a research report on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $40.10.

United Dominion Realty Trust Stock Performance

The company has a current ratio of 4.22, a quick ratio of 4.22 and a debt-to-equity ratio of 2.01. The company has a market cap of $11.76 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 7.85 and a beta of 0.70. The company's 50-day moving average price is $34.93 and its two-hundred day moving average price is $36.80.

United Dominion Realty Trust (NYSE:UDR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share for the quarter. The company had revenue of $428.08 million during the quarter. United Dominion Realty Trust had a return on equity of 22.31% and a net margin of 40.75%. As a group, equities analysts forecast that United Dominion Realty Trust, Inc. will post 2.54 earnings per share for the current year.

United Dominion Realty Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be paid a $0.1450 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.74 annualized dividend and a yield of 4.8%. United Dominion Realty Trust's payout ratio is presently 82.08%.

Institutional Trading of United Dominion Realty Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Addison Advisors LLC purchased a new stake in United Dominion Realty Trust in the 2nd quarter worth about $58,000. Northwestern Mutual Wealth Management Co. bought a new position in United Dominion Realty Trust in the 2nd quarter worth about $75,000. Allworth Financial LP purchased a new stake in United Dominion Realty Trust in the second quarter valued at approximately $106,000. Westpac Banking Corp purchased a new position in United Dominion Realty Trust in the second quarter worth $114,000. Finally, Global Retirement Partners LLC bought a new position in shares of United Dominion Realty Trust during the 2nd quarter valued at $187,000. Institutional investors and hedge funds own 97.82% of the company's stock.

United Dominion Realty Trust Company Profile

United Dominion Realty Trust, Inc NYSE: UDR is a real estate investment trust that owns, operates, acquires and develops multifamily apartment communities. The company generates revenue primarily by leasing apartments and related residential units to individuals and households.

UDR's portfolio includes conventional apartment communities as well as residential properties with amenities and services designed to support renter convenience and engagement. Its operations encompass property management, resident services, renovations, development and strategic acquisitions.

Founded in 1972, UDR has grown into a multifamily housing owner and operator serving selected markets across the United States.

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