UDR price target lowered to $45 from $52 at Truist

Truist analyst Michael Lewis lowered the firm’s price target on UDR to $45 from $52 and keeps a Hold rating on the shares. The analyst notes that he continues to view the REIT as a "strong operator with a diversified portfolio", but he is reducing his price target to reflect the impact of higher interest rates. UDR’s growth, stock valuation and financial leverage all appear close to average within his apartment REIT coverage universe, Lewis tells investors in a research note.