BMO Capital Adjusts Price Target on UDR to $38 From $42, Maintains Outperform Rating

Multifamily REIT executives said renter demand is holding up as new apartment supply begins to peak, citing stronger absorption and moderating deliveries on Q2 earnings calls. MAA highlighted resilient demand and declining deliveries. AvalonBay and Equity Residential proposed a merger. Camden sold a 11-community California portfolio for about $1.62B. Q2 core FFO per share: AVB $2.86, CPT $1.68, ELS $1.00, MAA $2.08, UDR $0.60, ES $4.08, UDR $0.60, CPC $1.27.

UDR Inc’s Q2 2026 earnings call covered strategy and leasing trends. Management said occupancy is in the mid-96% range, blended lease growth is at the top end of 1.5% to 2%, renewals are expected near 4%, and new lease growth may be flat. CFO discussed winding down its DPE book, expecting short-term dilution but higher long-term earnings. Sunbelt updates included Dallas at 97% occupancy.

UDR reported Q2 2026 adjusted FFOA of 64 cents per share, above the Zacks estimate of 63 cents. Rental income was $422.93 million, slightly below the prior year but marginally above consensus. Leasing metrics showed blended lease rate growth of 2.1%, occupancy of 96.6%, and same-store NOI up. UDR raised 2026 FFOA guidance to $2.49-$2.57 and expanded buybacks.

UDR, Inc. (UDR) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.2 3 udr-20260727xex99d2.htm EX-99.2 Exhibit 99.2 Financial Highlights ​ UDR, Inc. As of End of Second Quarter 2026 (Unaudited) (1) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Actual Results ​ Actual Results ​ Guidance for Dollars in thousands, except per share and unit ​ ​ ​ 2Q 2026 ​ YT

Scotiabank cut UDR’s price target to $38 from $39 and kept a Sector Perform rating, citing a slower U.S. Sunbelt apartment recovery due to excess supply. Barclays lowered its target to $41 from $42, maintaining Overweight, and said REIT earnings growth may bottom in 2026. UDR reported Q1 adjusted FFO of 62c/share and revenue of $425.85M.

United Dominion Realty Trust (NYSE: UDR) saw multiple analyst rating and price-target changes in May 2026. Wall Street Zen upgraded it to “hold” (5/16) after a downgrade to “sell” (5/2). Targets were lowered by Scotiabank ($39→$38), Barclays ($42→$41), Citigroup ($42→$40.50), and Cantor Fitzgerald ($42→$39), while RBC raised its target ($37→$38). UDR also announced a $0.145 monthly dividend, payable Sept. 30 to holders of record Sept. 15 (ex-dividend Sept. 15).