9,544 Shares in United Dominion Realty Trust, Inc. (NYSE:UDR) Bought by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in United Dominion Realty Trust, Inc. (NYSE:UDR) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,544 shares of the real estate investment trust’s stock, valued at approximately $431,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Townsquare Capital LLC raised its position in shares of United Dominion Realty Trust by 4.8% in the 4th quarter. Townsquare Capital LLC now owns 5,173 shares of the real estate investment trust’s stock worth $225,000 after acquiring an additional 237 shares in the last quarter. Continuum Advisory LLC grew its position 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 buying an additional 351 shares during the period. UMB Bank n.a. increased its stake in United Dominion Realty Trust by 47.8% in 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 purchasing an additional 434 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in United Dominion Realty Trust by 68.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 491 shares during the period. Finally, Spirit of America Management Corp NY increased its holdings in United Dominion Realty Trust by 1.1% during the 1st quarter. Spirit of America Management Corp NY now owns 46,100 shares of the real estate investment trust’s stock worth $2,082,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UDR has been the subject of several research reports. Royal Bank Of Canada increased their price target on shares of United Dominion Realty Trust from $43.00 to $44.00 and gave the company a “sector perform” rating in a research report on Thursday, May 8th. Scotiabank dropped their price target on United Dominion Realty Trust from $51.00 to $48.00 and set a “sector perform” rating for the company in a research report on Friday, June 13th. Barclays raised their price objective on shares of United Dominion Realty Trust from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Mizuho reduced their price objective on 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. Finally, Truist Financial downgraded United Dominion Realty Trust from a “buy” rating to a “hold” rating and boosted their price target for the company from $45.00 to $46.00 in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.38.

United Dominion Realty Trust Trading Down 2.0%

United Dominion Realty Trust stock opened at $40.16 on Thursday. The business has a 50-day simple moving average of $41.45 and a two-hundred day simple moving average of $42.28. The company has a market cap of $13.31 billion, a P/E ratio of 114.74, a P/E/G ratio of 13.65 and a beta of 0.83. United Dominion Realty Trust, Inc. has a 52-week low of $36.61 and a 52-week high of $47.55. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.77.

United Dominion Realty Trust (NYSE:UDR) last issued its 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 company had revenue of $419.84 million for 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 quarter last year, the company earned $0.61 EPS. Analysts predict that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current year.

United Dominion Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid 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 4.28%. United Dominion Realty Trust’s dividend payout ratio is 491.43%.

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.