Yield & Valuation Keep UDR a Buy

Tags: udr
7 Feb 12:41am
Posted by ZacksResearch
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Operationally, real estate equity trust UDR, Inc.'s (UDR) 4th quarter results were good, with solid increases in revenue, net operating income, and income per occupied home. 4th quarter FFO [funds from operations] came in line with our estimates.

The company is under contract to sell nearly 40% of its portfolio located in slower growth Midwestern and Southern markets. We like this sale, and the company now has a vast majority of its assets on the West Coast, Florida and in the D.C. area.

UDR's valuation remains attractive compared to peers. The yield, nearly 6%, is one of the most attractive payouts in the sector. We maintain our Buy rating, and persistent problems in the for sale housing markets will continue to benefit apartment owners.

Read the full analyst report on UDR




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