UDR Inc

Latest Results (09.02.2026):

UDR, Inc. reported third quarter 2025 results: Net income per diluted share of $0.12 (vs. $0.06 in 3Q 2024), FFO per diluted share of $0.62 (up 3% YoY) and FFO as Adjusted per diluted share of $0.65 (up 5% YoY). Same‑store revenue grew 2.6% year‑over‑year, NOI grew 2.3% YoY, and weighted average same‑store occupancy remained strong at ~96.6% for Q3 2025.

Quarterly earnings

3Q 2025 net income per diluted share $0.12 (100% increase YoY), FFO $0.62, FFOA $0.65 — all above prior-year levels and slightly ahead of the Company’s guidance ranges for the quarter.

Top-line and operating performance

Total revenue for Q3 2025 was $431.9 million (up $11.7 million, +2.8% YoY). Same‑store revenue +2.6% YoY, same‑store expense +3.1% YoY and same‑store NOI +2.3% YoY; occupancy remained in the mid‑96% range (weighted 96.6%).

Balance sheet and liquidity

Total consolidated indebtedness was ~$5.8 billion at Sept. 30, 2025; only ~$485.9 million maturing through 2026. UDR reported approximately $1.0 billion of liquidity (cash + undrawn capacity) at quarter end.

Capital allocation

During Q3 2025 UDR repurchased ~651,000 common shares for ~$25.0 million (avg. $38.37); subsequent to quarter‑end repurchased ~277,000 shares for ~$10.0 million (avg. $36.14). Board declared a quarterly dividend of $0.43 per share (1.2% increase YoY).

Debt actions and hedging

Extended a $350.0 million senior unsecured term loan maturity to Jan. 31, 2029 (two 1‑year extension options) with a 10 bps lower spread; entered a $175.0 million swap under the term loan fixing rate at 4.0% through Oct. 1, 2027.

Transactional activity

Q3 activity included repayment of a ~$32.2 million preferred equity investment and funding of two preferred equity investments (~$23.8M in Orlando at 11.25% and ~$35.8M in Orange County at 10.0%). Subsequent to quarter‑end UDR agreed to acquire a 406‑unit community near Washington, D.C. for ~ $147.0 million (expected Q4 close, to be funded with planned dispositions).

Guidance update

UDR raised full‑year 2025 Net Income and FFOA guidance midpoints by $0.02 per share (Net Income midpoint to $0.58; FFOA midpoint to $2.54). Full‑year FFO midpoint remains $2.45 per diluted share. Q4 2025 outlook: Net income $0.13–$0.15, FFO $0.63–$0.65, FFOA $0.63–$0.65.

Governance and corporate note

Subsequent to quarter‑end UDR appointed Richard B. Clark to the Board and published its seventh annual Corporate Responsibility Report; the company was also named a National Top Workplaces winner in the Real Estate Industry for the second consecutive year.