Barclays Maintains an 'Equalweight' on UDR, Inc. (UDR); Repositioning Into Core Coastal Markets

August 29, 2012 1:32 PM EDT Send to a Friend
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Price: $28.15 +0.04%

Rating Summary:
    5 Buy, 11 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 42
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Barclays maintains an 'Equalweight' on UDR, Inc. (NYSE: UDR) price target of $29.00 (from $30.00).

Analyst, Ross L. Smotrich, said, "UDR continues to execute its repositioning strategy into core coastal markets and disposing of assets in non-core suburban markets; this quarter was more focused on dispositions."

"In the near-term, we think UDR is paying for this portfolio improvement with
cash-flow dilution. Longer-term, however, we think the company's strategy will
provide better results and NOI growth over time as it increases its concentration in
high-barrier urban markets."

FY12/13 EPS estimate reduced by $0.02 each to $1.37/1.45.

For an analyst ratings summary and ratings history on UDR, Inc. click here. For more ratings news on UDR, Inc. click here.

Shares of UDR, Inc. closed at $25.62 yesterday.

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