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Fly News Breaks for November 20, 2018
UDR
Nov 20, 2018 | 08:23 EDT
As reported previously, Baird analyst Drew Babin downgraded UDR, Inc. to Neutral from Outperform. The analyst believes its AFFO multiple is fair given that he expects AFFO growth to decelerate in 2020. Although he expects 2019 to outpace the group due to internal growth and stabilization of development deliveries, he believes it is already reflected in the stock. Babin raised his price target to $42 from $40 on UDR, Inc. shares.