Lord Abbett & CO. LLC Has $90.17 Million Stake in United Dominion Realty Trust, Inc. (UDR)

Lord Abbett & CO. LLC lessened its stake in shares of United Dominion Realty Trust, Inc. (NYSE:UDR) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,313,882 shares of the real estate investment trust’s stock after selling 30,500 shares during the quarter. Lord Abbett & CO. LLC owned about 0.86% of United Dominion Realty Trust worth $90,172,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in shares of United Dominion Realty Trust by 0.7% during the first quarter. Oppenheimer & Co. Inc. now owns 52,756 shares of the real estate investment trust’s stock worth $1,913,000 after purchasing an additional 350 shares during the last quarter. Paloma Partners Management Co raised its stake in shares of United Dominion Realty Trust by 3.8% during the first quarter. Paloma Partners Management Co now owns 10,400 shares of the real estate investment trust’s stock worth $377,000 after purchasing an additional 379 shares during the last quarter. Amalgamated Bank raised its stake in shares of United Dominion Realty Trust by 6.1% during the first quarter. Amalgamated Bank now owns 18,642 shares of the real estate investment trust’s stock worth $676,000 after purchasing an additional 1,069 shares during the last quarter. Global X Management Co. LLC raised its stake in shares of United Dominion Realty Trust by 21.8% during the first quarter. Global X Management Co. LLC now owns 9,765 shares of the real estate investment trust’s stock worth $354,000 after purchasing an additional 1,746 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of United Dominion Realty Trust by 12.1% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 39,938 shares of the real estate investment trust’s stock worth $1,448,000 after purchasing an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 97.62% of the company’s stock.

UDR has been the subject of several analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $42.00 price target on shares of United Dominion Realty Trust in a research note on Wednesday, September 13th. Zacks Investment Research upgraded United Dominion Realty Trust from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research note on Thursday, July 13th. BMO Capital Markets restated a “hold” rating and set a $39.00 price target on shares of United Dominion Realty Trust in a research note on Tuesday, July 4th. Robert W. Baird upgraded United Dominion Realty Trust from a “neutral” rating to an “outperform” rating and set a $41.00 price target for the company in a research note on Thursday, October 5th. Finally, BTIG Research cut United Dominion Realty Trust from a “buy” rating to a “neutral” rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $39.67.

In other news, Director Jon A. Grove sold 7,500 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $37.74, for a total value of $283,050.00. Following the sale, the director now owns 452,808 shares of the company’s stock, valued at approximately $17,088,973.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas W. Toomey sold 30,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $38.86, for a total value of $1,165,800.00. Following the completion of the sale, the chief executive officer now directly owns 1,106,295 shares in the company, valued at approximately $42,990,623.70. The disclosure for this sale can be found here. Insiders have sold a total of 67,500 shares of company stock worth $2,586,750 in the last ninety days. 3.07% of the stock is owned by company insiders.

United Dominion Realty Trust, Inc. (UDR) traded down 0.13% on Tuesday, reaching $38.71. The company’s stock had a trading volume of 240,751 shares. United Dominion Realty Trust, Inc. has a 52-week low of $32.79 and a 52-week high of $40.71. The firm has a 50-day moving average price of $38.63 and a 200 day moving average price of $38.39. The firm has a market capitalization of $10.36 billion, a P/E ratio of 35.00 and a beta of 0.40.

United Dominion Realty Trust (NYSE:UDR) last announced its earnings results on Wednesday, July 26th. The real estate investment trust reported $0.47 earnings per share for the quarter, meeting the consensus estimate of $0.47. The firm had revenue of $247.97 million for the quarter, compared to the consensus estimate of $244.17 million. United Dominion Realty Trust had a return on equity of 10.40% and a net margin of 30.74%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.45 EPS. Equities analysts anticipate that United Dominion Realty Trust, Inc. will post $0.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Tuesday, October 10th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, October 6th. United Dominion Realty Trust’s payout ratio is currently 112.73%.

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United Dominion Realty Trust Profile

UDR, Inc is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company’s segments are Same-Store Communities and Non-Mature Communities/Other.

Institutional Ownership by Quarter for United Dominion Realty Trust (NYSE:UDR)

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