United Dominion Realty Trust (NYSE:UDR) Stock: Insider Michael Lacy Sells 10,000 Shares

United Dominion Realty Trust, Inc. (NYSE:UDR) COO Michael Lacy sold 10,000 shares of the stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $36.48, for a total value of $364,800.00. Following the transaction, the chief operating officer owned 783 shares of the company’s stock, valued at $28,563.84. The trade was a 92.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

United Dominion Realty Trust Stock Performance

Shares of UDR traded down $0.22 during trading hours on Thursday, hitting $37.00. The company’s stock had a trading volume of 6,597,800 shares, compared to its average volume of 4,110,689. The company has a market cap of $11.89 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 7.85 and a beta of 0.70. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.44 and a quick ratio of 4.22. The business has a 50 day simple moving average of $34.96 and a two-hundred day simple moving average of $36.80. United Dominion Realty Trust, Inc. has a 52-week low of $33.10 and a 52-week high of $42.00.

United Dominion Realty Trust (NYSE:UDR) last posted its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter. The company had revenue of $428.08 million for the quarter. United Dominion Realty Trust had a net margin of 40.75% and a return on equity of 22.39%. On average, equities analysts expect that United Dominion Realty Trust, Inc. will post 2.54 earnings per share for the current fiscal year.

United Dominion Realty Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be given a dividend of $0.1450 per share. The ex-dividend date is Tuesday, December 15th. This represents a $1.74 annualized dividend and a dividend yield of 4.7%. United Dominion Realty Trust’s dividend payout ratio is currently 110.83%.

Institutional Trading of United Dominion Realty Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in United Dominion Realty Trust in the 2nd quarter valued at $1,247,535,000. Canada Pension Plan Investment Board bought a new position in shares of United Dominion Realty Trust in the second quarter worth $219,560,000. Bank of New York Mellon Corp purchased a new stake in shares of United Dominion Realty Trust in the second quarter worth $89,660,000. Legal & General Group Plc purchased a new stake in shares of United Dominion Realty Trust in the second quarter worth $78,688,000. Finally, Bank of America Corp DE purchased a new stake in shares of United Dominion Realty Trust in the second quarter worth $56,374,000. 97.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on UDR shares. Evercore set a $41.00 price target on United Dominion Realty Trust in a research report on Monday, September 21st. Weiss Ratings reissued a “hold (c)” rating on shares of United Dominion Realty Trust in a report on Monday, September 21st. Cantor Fitzgerald raised their target price on United Dominion Realty Trust from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Truist Financial lowered United Dominion Realty Trust from a “buy” rating to a “hold” rating and set a $41.00 target price for the company. in a report on Wednesday, July 8th. Finally, Scotiabank decreased their price target on 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.10.

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.