State of Alaska Department of Revenue Buys 3,027 Shares of United Dominion Realty Trust, Inc. (NYSE:UDR)

State of Alaska Department of Revenue increased its stake in United Dominion Realty Trust, Inc. (NYSE:UDR) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 195,631 shares of the real estate investment trust’s stock after purchasing an additional 3,027 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of United Dominion Realty Trust worth $8,835,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC acquired a new stake in shares of United Dominion Realty Trust in the first quarter worth $47,000. Smartleaf Asset Management LLC raised its holdings in United Dominion Realty Trust by 68.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust’s stock worth $52,000 after acquiring an additional 491 shares during the period. Continuum Advisory LLC lifted its position in 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 acquiring an additional 351 shares during the last quarter. UMB Bank n.a. boosted its holdings in United Dominion Realty Trust by 47.8% during 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 acquiring an additional 434 shares during the period. Finally, Catalyst Capital Advisors LLC bought a new stake in United Dominion Realty Trust during the fourth quarter valued at about $63,000. Institutional investors own 97.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

United Dominion Realty Trust Stock Up 0.4%

Shares of UDR opened at $41.13 on Thursday. The company has a quick ratio of 8.35, a current ratio of 8.35 and a debt-to-equity ratio of 1.77. The company has a 50-day moving average price of $41.38 and a two-hundred day moving average price of $42.41. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 117.50, a P/E/G ratio of 13.65 and a beta of 0.83. United Dominion Realty Trust, Inc. has a 12 month low of $36.61 and a 12 month high of $47.55.

United Dominion Realty Trust (NYSE:UDR) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $419.84 million during 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%. United Dominion Realty Trust’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. Equities analysts predict that United Dominion Realty Trust, Inc. will post 2.51 EPS for the current fiscal year.

United Dominion Realty Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Thursday, July 10th. United Dominion Realty Trust’s payout ratio is 491.43%.

United Dominion Realty Trust Profile

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.