Credit Suisse upgraded UDR, Inc. (NYSE: UDR) from Underperform to Neutral with a price target of $38.00 (from $36.50).

Analyst I. Weissman commented, "Against the backdrop of continued outperformance across its core markets, and a stock that is virtually flat since its August '15 equity offering, (a slight underperformer), we are upgrading UDR to Neutral from Underperform, while our PT increases $1.50 to $38. Our PT is a blend of our $38 forward NAV (75%) and our $38 DCF (25%)-implying an 10% total return."

The firm also raised FFO estimates.

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 $35.66 yesterday.