UDR downgraded to Hold from Buy at Jefferies

Jefferies downgraded UDR (UDR) to Hold from Buy with a price target of $45, down from $50 as part of a 2025 outlook for residential real estate investment trusts. Continued supply will likely slow the company’s sales growth, the analyst tells investors in a research note. Supply pressures in UDR’s Sunbelt markets are still weighing on new lease rate growth, limiting funds from operations growth relative to coastal REITs in 2025, contends Jefferies.