Key Points
- UDR COO Michael Lacy sold 10,000 shares at an average of $36.48, worth $364,800. After the sale, he directly owned 783 shares—a 92.74% reduction in his holdings.
- UDR reported quarterly earnings of $0.67 per share on revenue of $428.08 million. It also announced a monthly dividend of $0.145 per share, equivalent to an annualized yield of 4.7% at the article’s cited share price.
- Analysts’ consensus rating was Hold, with an average price target of $40.10; ratings ranged from Strong Buy to Sell.
United Dominion Realty Trust, Inc. (NYSE:UDR - Get Free Report) COO Michael Lacy sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $36.48, for a total value of $364,800.00. Following the completion of the transaction, the chief operating officer directly owned 783 shares of the company's stock, valued at $28,563.84. This trade represents a 92.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
United Dominion Realty Trust Stock Performance
Shares of United Dominion Realty Trust stock opened at $37.00 on Friday. The company has a quick ratio of 4.22, a current ratio of 3.44 and a debt-to-equity ratio of 1.87. United Dominion Realty Trust, Inc. has a 52 week low of $33.10 and a 52 week high of $42.00. The firm's 50 day moving average is $34.94 and its two-hundred day moving average is $36.80. The firm has a market capitalization of $11.89 billion, a P/E ratio of 17.45, a P/E/G ratio of 8.14 and a beta of 0.70.
United Dominion Realty Trust (NYSE:UDR - Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share for the quarter. The business had revenue of $428.08 million during the quarter. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.39%. Research analysts forecast that United Dominion Realty Trust, Inc. will post 2.54 EPS for the current fiscal year.
United Dominion Realty Trust Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be given a $0.1450 dividend. This represents a $1.74 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, December 15th. United Dominion Realty Trust's dividend payout ratio (DPR) is 82.08%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on UDR. Morgan Stanley cut their price target on shares of United Dominion Realty Trust from $44.50 to $42.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 12th. Barclays decreased their price objective on shares of United Dominion Realty Trust from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Wednesday, October 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of United Dominion Realty Trust in a report on Monday, September 21st. The Goldman Sachs Group reaffirmed a "sell" rating and set a $38.00 price objective on shares of United Dominion Realty Trust in a report on Thursday, July 30th. Finally, Jefferies Financial Group upgraded United Dominion Realty Trust to a "strong-buy" rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, United Dominion Realty Trust presently has an average rating of "Hold" and a consensus target price of $40.10.
View Our Latest Report on United Dominion Realty Trust
Institutional Investors Weigh In On United Dominion Realty Trust
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board boosted its holdings in shares of United Dominion Realty Trust by 7.2% in the second quarter. New Mexico Educational Retirement Board now owns 14,900 shares of the real estate investment trust's stock valued at $595,000 after acquiring an additional 1,000 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of United Dominion Realty Trust during the second quarter worth approximately $1,258,000. Empowered Funds LLC purchased a new position in shares of United Dominion Realty Trust during the second quarter worth approximately $253,000. United Capital Financial Advisors LLC purchased a new position in shares of United Dominion Realty Trust during the second quarter worth approximately $366,000. Finally, Pacific Heights Asset Management LLC acquired a new position in shares of United Dominion Realty Trust in the 2nd quarter valued at $15,968,000. Hedge funds and other institutional investors own 97.82% of the company's stock.
United Dominion Realty Trust Company Profile
(
Get Free Report)
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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