BUZZ-UDR shares surge due to upgraded fiscal year performance forecast and deal with Apollo

October 21 - ** Real estate investment trust UDR (UDR.N) saw its share price rise 1.6% to $35

** UDR raised its full-year diluted earnings per share forecast from $1.03-$1.11 to $1.58-$1.60

** UDR announced the establishment of a $2 billion joint venture with alternative asset manager Apollo Global Management (APO.N)

** Apollo Global Management (APO) will invest $1.34 billion to acquire about two-thirds equity, while UDR will retain management control and hold one-third equity

** The average analyst rating is "hold," with 9 rating it "strong buy" or "buy," 12 rating it "hold," and 2 rating it "sell"; the median target price is $40—data compiled by LSEG

** Including intraday swings, the stock has fallen about 6% so far this year

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