Scotiabank lowered the firm’s price target on UDR (UDR) to $48 from $49 and keeps a Sector Perform rating on the shares. Rental demand remains robust, which should persist into 2025 due to affordability issues for homeownership and a prospect for stable-to-improving employment growth, the analyst tells investors. Elevated supply pressures across various Top 25 markets, however, should temper rent growth for at least another year, the firm adds.
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Read More on UDR:
- UDR price target raised to $48 from $46 at Piper Sandler
- UDR Reports Solid Q3 2024 Results and Raises Guidance
- UDR raises FY24 AFFO view to $2.21-$2.23 from $2.16-$2.24
- UDR sees Q4 AFFO 56c-58c, consensus 62c
- UDR reports Q3 AFFO 54c, consensus 62c
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