KeyBanc analyst Jordan Sadler upgraded UDR, Inc. to Overweight from Sector Weight with a $50 price target as part of a broader research note on the REIT sector. The analyst says he expects UDR to deliver an above-average ~8% AFFO growth in 2020 driven by 3.5% SSNOI growth, accretion from external investments in 2019, DCP investment activity, a ramping development pipeline, and recent refinancing activity. The stock's underperformance has also likely now priced in some deceleration following negative blended lease rates reported in October, the analyst adds.