UDR, Inc. (NYSE:UDR) Shares Bought by Allstate Corp

Allstate Corp raised its stake in shares of UDR, Inc. (NYSE:UDR - Free Report) by 184.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,157 shares of the real estate investment trust's stock after purchasing an additional 45,499 shares during the quarter. Allstate Corp's holdings in UDR were worth $3,046,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new stake in UDR during the third quarter worth about $33,000. Continuum Advisory LLC boosted its stake in UDR by 5,335.3% during the 3rd quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 907 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of UDR by 68.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,206 shares of the real estate investment trust's stock worth $52,000 after purchasing an additional 491 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of UDR by 62.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,349 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 520 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new stake in UDR in the 4th quarter worth about $63,000. 97.84% of the stock is owned by institutional investors.

UDR Stock Down 2.7 %

UDR stock traded down $1.23 during midday trading on Thursday, reaching $44.13. The company's stock had a trading volume of 1,057,187 shares, compared to its average volume of 2,171,362. The stock has a market capitalization of $14.61 billion, a P/E ratio of 176.52, a PEG ratio of 8.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.71, a current ratio of 5.61 and a quick ratio of 5.91. UDR, Inc. has a 52-week low of $35.14 and a 52-week high of $47.55. The stock's 50-day simple moving average is $43.32 and its 200-day simple moving average is $43.73.

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UDR (NYSE:UDR - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.53. UDR had a return on equity of 2.65% and a net margin of 5.36%. On average, 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 given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from UDR's previous quarterly dividend of $0.43. This represents a $1.72 dividend on an annualized basis and a yield of 3.90%. UDR's dividend payout ratio is currently 688.00%.

Insider Buying and Selling

In related news, CEO Thomas W. Toomey sold 25,000 shares of the business's 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 transaction, the chief executive officer now directly owns 824,716 shares in the company, valued at approximately $35,256,609. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on UDR. Wells Fargo & Company dropped their target price on shares of UDR from $48.00 to $45.00 and set an "overweight" rating on the stock in a report on Friday, January 24th. Mizuho reduced their price target on shares of UDR from $47.00 to $45.00 and set a "neutral" rating for the company in a research report on Monday, January 6th. Zelman & Associates restated a "neutral" rating on shares of UDR in a research report on Thursday, February 13th. Evercore ISI increased their price objective on shares of UDR from $43.00 to $45.00 and gave the stock an "in-line" rating in a research note on Monday, February 10th. Finally, Truist Financial cut shares of UDR from a "buy" rating to a "hold" rating and boosted their price target for the stock from $45.00 to $46.00 in a research note on Monday, March 10th. One 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price 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.