UDR, Inc. (NYSE:UDR) Stake Raised by Allstate Corp

Allstate Corp raised its holdings in shares of UDR, Inc. (NYSE:UDR) by 184.5% during the 4th quarter, HoldingsChannel reports. The fund owned 70,157 shares of the real estate investment trust’s stock after purchasing an additional 45,499 shares during the period. Allstate Corp’s holdings in UDR were worth $3,046,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in UDR by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 50,809,731 shares of the real estate investment trust’s stock valued at $2,205,650,000 after purchasing an additional 180,551 shares during the last quarter. Norges Bank acquired a new stake in UDR in the fourth quarter valued at approximately $1,273,442,000. FMR LLC grew its position in UDR by 14.8% in the third quarter. FMR LLC now owns 11,401,026 shares of the real estate investment trust’s stock worth $516,923,000 after acquiring an additional 1,471,855 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of UDR by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,774,541 shares of the real estate investment trust’s stock worth $352,498,000 after purchasing an additional 368,087 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of UDR by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,367,054 shares of the real estate investment trust’s stock valued at $189,574,000 after purchasing an additional 95,022 shares in the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

Insider Buying and Selling at UDR

In related news, CEO Thomas W. Toomey sold 25,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $42.75, for a total transaction of $1,068,750.00. Following the completion of the sale, the chief executive officer now owns 824,716 shares in the company, valued at $35,256,609. This trade represents a 2.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.73% of the company’s stock.

UDR Stock Performance

Shares of NYSE UDR opened at $44.56 on Friday. UDR, Inc. has a one year low of $35.14 and a one year high of $47.55. The company has a current ratio of 5.61, a quick ratio of 5.91 and a debt-to-equity ratio of 1.71. The business has a fifty day simple moving average of $43.06 and a 200 day simple moving average of $43.76. The firm has a market capitalization of $14.75 billion, a price-to-earnings ratio of 178.22, a PEG ratio of 8.67 and a beta of 0.88.

UDR (NYSE:UDR) last posted its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. Sell-side analysts expect that UDR, Inc. will post 2.51 EPS for the current year.

UDR Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.43 per share. This is a positive change from UDR’s previous quarterly dividend of $0.43. This represents a $1.72 annualized dividend and a yield of 3.86%. The ex-dividend date of this dividend is Thursday, April 10th. UDR’s dividend payout ratio is currently 688.00%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial cut shares of UDR from a “buy” rating to a “hold” rating and upped their price objective for the stock from $45.00 to $46.00 in a report on Monday, March 10th. Evercore ISI upped their target price on UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a research report on Monday, February 10th. Royal Bank of Canada increased their price target on UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. StockNews.com upgraded shares of UDR from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Mizuho lowered their price target on UDR from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $46.12.

About UDR

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.