Allstate Corp Increases Stock Position in UDR, Inc. (NYSE:UDR)

Allstate Corp increased its position in shares of UDR, Inc. (NYSE:UDR) by 184.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,157 shares of the real estate investment trust’s stock after buying an additional 45,499 shares during the period. 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 have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of UDR during the third quarter worth approximately $33,000. Continuum Advisory LLC grew its stake in UDR by 5,335.3% in the third quarter. Continuum Advisory LLC now owns 924 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 907 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in 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 valued at $52,000 after buying an additional 491 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in 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 buying an additional 520 shares in the last quarter. Finally, Catalyst Capital Advisors LLC bought a new position in UDR during the 4th quarter worth approximately $63,000. Institutional investors and hedge funds own 97.84% of the company’s stock.

Wall Street Analysts Forecast Growth

UDR has been the topic of a number of research reports. Evercore ISI increased their target price on shares of UDR from $43.00 to $45.00 and gave the stock an “in-line” rating in a report on Monday, February 10th. StockNews.com upgraded UDR from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Scotiabank boosted their price objective on UDR from $48.00 to $49.00 and gave the company a “sector perform” rating in a research report on Friday, February 14th. Barclays dropped their target price on UDR from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on shares of UDR from $43.00 to $44.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.12.

UDR Stock Up 0.8 %

UDR opened at $44.56 on Friday. The stock’s fifty day moving average is $43.06 and its 200-day moving average is $43.76. UDR, Inc. has a one year low of $35.14 and a one year high of $47.55. The company has a market capitalization of $14.75 billion, a PE ratio of 178.22, a P/E/G ratio of 8.67 and a beta of 0.88. The company has a debt-to-equity ratio of 1.71, a quick ratio of 5.91 and a current ratio of 5.61.

UDR (NYSE:UDR) last issued its quarterly earnings results on Wednesday, February 5th. The real estate investment trust reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.53. UDR had a net margin of 5.36% and a return on equity of 2.65%. On average, equities analysts predict that UDR, Inc. will post 2.51 EPS for the current fiscal year.

UDR Increases Dividend

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

Insider Transactions at UDR

In other news, CEO Thomas W. Toomey sold 25,000 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 824,716 shares of the company’s stock, valued at $35,256,609. This represents a 2.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 3.73% of the company’s stock.

UDR Profile

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.