Downgrade Alert for UDR (UDR)
UDR (NYSE:UDR) was downgraded from Outperform to Market Perform at BMO Capital today. The stock closed yesterday at $33.54 on volume of 2.4 million shares, above average daily volume of 1.7 million.
In the past 52 weeks, UDR share prices have been bracketed by a low of $30.03 and a high of $38.61 and closed yesterday at $33.54, 12% above that low price. The 200-day and 50-day moving averages have moved 0.14% higher and 0.38% higher over the past week, respectively.
UDR, Inc. is a self-administered real estate investment trust. The Company owns, operates, and develops apartment communities located nationwide.
There is potential upside of 10.5% for shares of UDR based on a current price of $33.54 and an average consensus analyst price target of $37.07. The stock should run into initial resistance at its 200-day moving average (MA) of $35.30 and subsequent resistance at its 50-day MA of $36.52.
SmarTrend recommended that its subscribers protect gains by selling shares of UDR on October 4th, 2016 by issuing a Downtrend alert when the shares were trading at $34.76. Since that call, shares of UDR have fallen 3.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades