UDR shares rise after earnings forecast increase and $2 billion Apollo deal
- UDR (NYSE:UDR) shares rose 1.6% to $35 in the reported trading session, following an increase in the company's full-year earnings forecast and news of a joint venture.
- The apartment real estate investment trust raised its 2026 net income guidance to $1.58–$1.60 per diluted share, from its previous range of $1.03–$1.11.
- Apollo Global Management (NYSE:APO) is set to invest $1.34 billion in a $2 billion joint venture, acquiring approximately two-thirds ownership while UDR retains one-third ownership and management control.
UDR (NYSE:UDR) shares rose 1.6% to $35 in Wednesday trading after the apartment real estate investment trust raised its annual earnings forecast and announced an Apollo partnership.
The company increased its full-year 2026 net income guidance to $1.58–$1.60 per diluted share from the previous forecast of $1.03–$1.11.
UDR also announced a $2 billion joint venture with Apollo Global Management (NYSE:APO), expanding its access to institutional capital for residential real estate investments.
Under the agreement, Apollo will invest approximately $1.34 billion for a two-thirds ownership interest, while UDR retains a one-third stake and management control.
The joint venture establishes a partnership between the residential property operator and the alternative asset manager, with the financial implications dependent on transaction terms and future performance.
According to LSEG data cited in the market report, nine analysts rated UDR shares buy or strong buy, 12 recommended hold and two assigned sell ratings.
The stock's median analyst price target stood at $40, while shares remained approximately 6% lower year to date despite the reported 1.6% session gain.
