New York State Teachers Retirement System Sells 50,223 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

New York State Teachers Retirement System decreased its stake in shares of United Dominion Realty Trust, Inc. (NYSE:UDR) by 16.7% during the first quarter, HoldingsChannel.com reports. The firm owned 250,934 shares of the real estate investment trust’s stock after selling 50,223 shares during the period. New York State Teachers Retirement System’s holdings in United Dominion Realty Trust were worth $11,335,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of United Dominion Realty Trust during the fourth quarter valued at about $1,273,442,000. Capital Research Global Investors grew its stake in United Dominion Realty Trust by 64.1% during the fourth quarter. Capital Research Global Investors now owns 13,060,120 shares of the real estate investment trust’s stock valued at $566,940,000 after acquiring an additional 5,101,668 shares in the last quarter. Invesco Ltd. increased its holdings in United Dominion Realty Trust by 92.0% during the 4th quarter. Invesco Ltd. now owns 7,535,234 shares of the real estate investment trust’s stock worth $327,104,000 after acquiring an additional 3,609,925 shares during the period. Northern Trust Corp lifted its stake in United Dominion Realty Trust by 54.2% in the 4th quarter. Northern Trust Corp now owns 4,853,979 shares of the real estate investment trust’s stock worth $210,711,000 after purchasing an additional 1,706,037 shares in the last quarter. Finally, FMR LLC boosted its holdings in United Dominion Realty Trust by 10.5% in the 4th quarter. FMR LLC now owns 12,592,458 shares of the real estate investment trust’s stock valued at $546,639,000 after purchasing an additional 1,191,432 shares during the period. Institutional investors own 97.84% of the company’s stock.

United Dominion Realty Trust Stock Performance

Shares of NYSE UDR opened at $40.80 on Friday. The stock’s 50-day moving average is $41.37 and its 200 day moving average is $42.12. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 116.57, a P/E/G ratio of 13.51 and a beta of 0.82. United Dominion Realty Trust, Inc. has a 1-year low of $36.61 and a 1-year high of $47.55. The company has a current ratio of 8.35, a quick ratio of 8.35 and a debt-to-equity ratio of 1.77.

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

United Dominion Realty Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend is Thursday, July 10th. United Dominion Realty Trust’s dividend payout ratio is currently 491.43%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank Of Canada boosted 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. Mizuho reduced their target price on United Dominion Realty Trust from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Scotiabank decreased their target price on 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. Truist Financial cut United Dominion Realty Trust from a “buy” rating to a “hold” rating and raised their price target for the company from $45.00 to $46.00 in a report on Monday, March 10th. Finally, Barclays boosted their price objective on 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 analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, United Dominion Realty Trust has a consensus rating of “Hold” and a consensus target price of $46.38.

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.