UDR price target lowered to $48 from $49 at Scotiabank

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.