UDR jumps on FY forecast lift, Apollo deal

** Shares of real estate investment trust UDR UDR.N rise 1.6% to $35

** UDR lifts its FY net income forecast to $1.58 - $1.60 per diluted share, from $1.03 - $1.11

** DR announces a $2 billion joint venture with alternative asset manager Apollo Global Management APO.N

** APO will invest $1.34 billion for about a two-thirds stake, with UDR retaining management control and a one-third interest

** Average analyst rating is "hold", with 9 "strong buy" or "buy", 12 "hold" and 2 "sell"; median PT is $40 - data compiled by LSEG

** Including session moves, stock had fallen about 6% YTD