Compass Point Maintains a 'Neutral' on UDR, Inc. (UDR); Raising PT, But Lowering Estimates
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Price: $37.77 +0.21%
Rating Summary:
14 Buy, 17 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
14 Buy, 17 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Compass Point maintains a 'Neutral' on UDR, Inc. (NYSE: UDR) price target raised from $24 to $25.
Analyst, Wilkes Graham, said, "While we continue to view the majority of the apartment REIT space as fairly valued relative to continued strong fundamentals, we do like UDR's portfolio exposure to strong rental markets and the company's recent success at selling off noncore assets. Our price target is based on a 5.75% cap rate on 2012 NOI and $1/share of value in the development pipeline via a 110 bps spread between development yields and stabilized cap rates."
"...we are lowering our 2012 FFO estimate to $1.37 (compared to guidance of $1.37-$1.43) from $1.43 and lowering next year's estimate to $1.47 from $1.55 (current consensus is $1.51)."
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 $26.35 yesterday.
Analyst, Wilkes Graham, said, "While we continue to view the majority of the apartment REIT space as fairly valued relative to continued strong fundamentals, we do like UDR's portfolio exposure to strong rental markets and the company's recent success at selling off noncore assets. Our price target is based on a 5.75% cap rate on 2012 NOI and $1/share of value in the development pipeline via a 110 bps spread between development yields and stabilized cap rates."
"...we are lowering our 2012 FFO estimate to $1.37 (compared to guidance of $1.37-$1.43) from $1.43 and lowering next year's estimate to $1.47 from $1.55 (current consensus is $1.51)."
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 $26.35 yesterday.
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