Evercore ISI Upgrades UDR, Inc. (UDR) to Outperform

Evercore ISI analyst Steve Sakwa upgraded UDR, Inc. (NYSE: UDR) from In Line to Outperform with a price target of $46.00 (from $45.00).

The analyst comments "UDR: Our $0.62 estimate is equal to the midpoint of UDR’s range and consensus while our FY25 FFOA estimate of $2.51 is also in line with the street and a penny above the midpoint of the guidance range. While the company didn’t guide to SS rev, exp or NOI growth in the quarter, our estimates are below the street to the tune of 10bp for revenue (2.6% vs. 2.7%) while our NOI growth rate in the quarter sits at 2.6% which is 60bp above consensus. For the year, our SS rev growth rate of 2.8% is also 10bp below consensus and our NOI growth rate of 2.8% is 30bp above the street and near the top end of the company’s guidance range of 0.5% to 3.0%."

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 $40.80 yesterday.

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