UDR price target lowered to $43 from $46 at Truist

Truist analyst Michael Lewis lowered the firm’s price target on UDR (UDR) to $43 from $46 and keeps a Hold rating on the shares. The REIT owns a diversified multifamily portfolio as the pace of new supply slows in Sunbelt markets and remains low in coastal ones, even though the national job growth is also slowing, the analyst tells investors in a research note. Lower short-term rates would be a good outcome for the next 12 months, but the firm still like a few apartment REIT stocks a little better at current pricing, Truist added.