UDR price target lowered to $41 from $43 at Truist

Truist lowered the firm’s price target on UDR (UDR) to $41 from $43 and keeps a Hold rating on the shares. UDR is down 17% YTD vs. +2% for the VNQ and appears inexpensive at a 6.2% implied cap rate, though several apartment REITs are also trading well below private market values as slowing employment growth threatens to offset declining new supply, the analyst tells investors in a research note.