Insider Selling: United Dominion Realty Trust (NYSE:UDR) COO Sells $364,800.00 in Stock

United Dominion Realty Trust, Inc. (NYSE:UDR) COO Michael Lacy sold 10,000 shares of United Dominion Realty Trust stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $36.48, for a total transaction of $364,800.00. Following the completion of the sale, the chief operating officer owned 783 shares in the company, valued at approximately $28,563.84. This trade represents a 92.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

United Dominion Realty Trust Stock Down 1.1%

Shares of NYSE UDR opened at $36.59 on Friday. The company has a current ratio of 3.44, a quick ratio of 4.22 and a debt-to-equity ratio of 1.87. United Dominion Realty Trust, Inc. has a 12 month low of $33.10 and a 12 month high of $42.00. The firm has a market capitalization of $11.60 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 8.00 and a beta of 0.70. The firm has a fifty day simple moving average of $34.93 and a two-hundred day simple moving average of $36.80.

United Dominion Realty Trust (NYSE:UDR) last announced its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share for the quarter. The firm 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%. Equities analysts expect that United Dominion Realty Trust, Inc. will post 2.54 earnings per share for the current year.

United Dominion Realty Trust Dividend Announcement

The company also recently disclosed 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. This represents a $1.74 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 15th. United Dominion Realty Trust’s payout ratio is presently 82.08%.

Hedge Funds Weigh In On United Dominion Realty Trust

Several large investors have recently made changes to their positions in UDR. New Mexico Educational Retirement Board grew its stake in shares of United Dominion Realty Trust by 7.2% in the 2nd quarter. New Mexico Educational Retirement Board now owns 14,900 shares of the real estate investment trust’s stock worth $595,000 after buying an additional 1,000 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in United Dominion Realty Trust during the 2nd quarter valued at approximately $1,258,000. Empowered Funds LLC purchased a new position in United Dominion Realty Trust during the second quarter valued at $253,000. United Capital Financial Advisors LLC purchased a new position in United Dominion Realty Trust during the second quarter valued at $366,000. Finally, Pacific Heights Asset Management LLC bought a new stake in United Dominion Realty Trust in the second quarter worth $15,968,000. 97.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UDR has been the subject of a number of research analyst reports. Mizuho lowered their target price on United Dominion Realty Trust from $41.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, September 8th. Barclays reduced their price target on United Dominion Realty Trust from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 14th. JPMorgan Chase & Co. increased their price objective on United Dominion Realty Trust from $39.00 to $41.00 and gave the stock an “underweight” rating in a report on Tuesday, August 4th. Cantor Fitzgerald raised their price objective on United Dominion Realty Trust from $39.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Piper Sandler dropped their target price on shares of United Dominion Realty Trust from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.10.

About United Dominion Realty Trust

UDR, Inc, formerly known as United Dominion Realty Trust, is a real estate investment trust focused on the ownership, development, acquisition and management of apartment communities in the United States. The company traces its history to 1972 and provides rental housing across a range of markets and communities.

UDR’s portfolio is concentrated in major coastal and Sun Belt markets, including areas such as New York, Boston, Washington, DC, Southern California, Seattle, Denver, Dallas, Austin, Nashville and South Florida.