KBW Maintains UDR Estimates

UDR, Inc.'s UDR 1Q FFO/sh “met expectations, as pricing / demand trends continued recent improvement (NOI +3.0%),” KBW reports. “FY11 rev/NOI and FFO/sh outlook unchanged for now ($1.23 midpt; KBW $1.26), but trending to upper end of range; we anticipate midyear increase,” KBW writes. “ATM funding acquisitions and lower leverage, as expected; further equity issuance expected.” UDR closed Monday at $25.85.