BMO Capital analyst John Kim maintained a Buy rating on UDR (UDR – Research Report) today and set a price target of $48.00.
John Kim has given his Buy rating due to a combination of factors that highlight UDR’s strong performance and potential for growth. The company reported a solid first quarter of 2025, with a notable increase in occupancy rates to 97.2% and a significant improvement in new lease spreads, which were among the best in the Apartment sector. Additionally, UDR’s same-store revenue growth exceeded the midpoint of their full-year guidance, indicating robust operational performance.
Despite maintaining its 2025 guidance amid macroeconomic uncertainties, UDR’s commencement of a new development project in Riverside, CA, suggests future growth prospects. The positive momentum in the Mid-Atlantic and West Coast regions, driven by increased leasing traffic and strong rate accelerations, further supports the Buy rating. While there are some concerns regarding the Southwest region’s performance, the overall outlook remains positive, justifying the Buy recommendation.
According to TipRanks, Kim is a 2-star analyst with an average return of 0.0% and a 46.41% success rate. Kim covers the Real Estate sector, focusing on stocks such as Eastgroup Properties, Vornado Realty, and Easterly Government Properties.
In another report released on April 17, Wells Fargo also maintained a Buy rating on the stock with a $48.00 price target.