UDR (UDR) Company Report

Net income per diluted share of $0.67 and FFO of $0.62 in Q4 2025, up 29% YoY; FFOA per share of $0.64, up 2%.
Full-year 2025 net income per share of $1.13, FFO of $2.43, and FFOA of $2.54, a 335% and 6% YoY increase respectively.
Dividend declared at $0.43 per share for Q4 2025 (1.2% increase) and 2026 annualized dividend set at $1.74 per share (1.2% increase).
2026 guidance: FFO per share of $2.47–$2.57, net income per share of $0.45–$0.55, and same-store revenue growth of 0.25–2.25%.

5 days ago

Presentation

UDR reports Q4 2025 earnings and provides 2026 guidance

UDR

Earnings

Guidance Update

Share Buyback

UDR delivered Q4 FFOA per share of $0.64 and full-year 2025 FFOA of $2.54, meeting guidance midpoints and outperforming on same-store expense and NOI growth.
For 2026, UDR guides FFOA per share of $2.47–$2.57, same-store revenue growth of 0.25%–2.25%, and anticipates 0.125% NOI growth at the midpoint; the $2.52 midpoint represents <1% decline from 2025.
Operating momentum carried into 2026 with accelerating blended lease rate growth and occupancy in the mid–high 96% range, driven by data-driven leasing tactics and innovation initiatives.
Capital allocation included $120 million of share repurchases in 2025; UDR plans to be net sellers in 2026, marketing approximately $700 million of assets for disposition.
The board was refreshed with the appointment of Ellen Goitia, enhancing accounting and governance expertise.

5 days ago

Transcript

UDR reports Q4 2025 earnings and provides 2026 guidance

UDR

Earnings

Guidance Update

Share Buyback

Reported Q4 2025 FFOA per share of $0.64 and FY 2025 FFOA per share of $2.54, meeting guidance midpoints; same-store NOI and expense growth beat expectations, while revenue growth met guidance.
Provided 2026 guidance of FFOA per share $2.47–$2.57 (midpoint $2.52) and same-store revenue growth of 0.25%–2.25% and expense growth of 3.75%, implying 0.125% NOI growth at the midpoint.
Completed the $147 million acquisition of Enclave at Potomac Club and expanded the LaSalle JV by $230 million, using proceeds to repay $128 million of debt and repurchase $93 million of shares at an average price of $35.56.
Highlighted strong operating momentum with blended lease rate growth improving from –3% in October to +1% in January and occupancy remaining in the mid- to high-96% range.
Maintained a solid balance sheet with 12% of consolidated debt maturing through 2027 and approximately $1 billion of liquidity at year-end.

5 days ago

Transcript

UDR reports Q4 2025 results and 2026 guidance

UDR

Earnings

Guidance Update

Share Buyback

UDR reported Q4 2025 FFOA per share of $0.64 and full-year $2.54, meeting prior guidance midpoints; same-store NOI and expense growth beat expectations, and revenue growth met guidance.
For 2026, UDR guided FFOA per share of $2.47–$2.57 (midpoint $2.52), projecting same-store revenue growth of 0.25%–2.25% (midpoint 1.25%) and expense growth of 3.75%, translating to 0.125% NOI growth at the midpoint.
In Q4, UDR acquired the Enclave at Potomac Club for $147 million, expanded its LaSalle JV by $230 million, repaid $128 million of secured debt, and repurchased $93 million of stock at an average $35.56 per share.
Positive momentum from late 2025 continued into 2026, with accelerating lease rate growth, high occupancy (mid-96% range), easing concessions, and mid-single-digit other income growth.

5 days ago

Transcript

UDR announces Q4 and full-year 2025 results

UDR

Earnings

Guidance Update

Dividends

Reported Q4 2025 net income per diluted share of $0.67, FFO per share of $0.62 (up 29% YoY), and FY 2025 FFO of $2.43 per share (up 6% YoY).
Established 2026 guidance for Q1 net income per share of $0.11–$0.13, full-year net income $0.45–$0.55 per share, and FFO of $2.47–$2.57 per share.
Declared a 1.2% quarterly dividend increase to $0.43 per share, representing the 213th consecutive quarterly dividend.
Completed a $231.6 M expansion of its joint venture with LaSalle (receiving $202.8 M in proceeds), acquired a 406-unit community for $147.7 M, and repurchased 2.6 M shares for $92.8 M at an average price of $35.56.
Appointed Richard B. Clark and Ellen M. Goitia to its Board of Directors.

6 days ago

8-K

UDR announces Q4 and FY 2025 results and 2026 guidance

UDR

Earnings

Guidance Update

Dividends

UDR reported Q4 2025 FFO per diluted share of $0.62, FFOA per share of $0.64, and net income per share of $0.67, with full-year FFO of $2.43 and FFOA of $2.54 per share.
For 2026, the company expects Q1 net income per diluted share of $0.11–$0.13, Q1 FFO of $0.61–$0.63, and full-year FFO guidance of $2.47–$2.57 per share.
The board increased the Q4 2025 dividend to $0.43 per share (up 1.2% YoY) and set the 2026 annualized dividend at $1.74 per share (also +1.2%).
During Q4, UDR expanded its JV with LaSalle by $231.6 million, acquired a 406-unit community for $147.7 million, and repurchased 2.6 million shares for $92.8 million.

6 days ago

Press Release

UDR reports profitable Q4 and strong full-year 2025 results

UDR

Earnings

Revenue Acceleration/Inflection

UDR posted Q4 revenues of $433.1 million and full-year revenues of $1.71 billion driven by higher rental income and property sale gains.
Net income for Q4 was $221.7 million (EPS $0.67) following a $195 million gain on real estate sales.
Q4 funds from operations (FFO) were $0.64 per share, in line with consensus and marking a +0.02% surprise.
Management emphasized high occupancy and accelerated blended lease-rate growth, positioning the company to benefit from limited new supply.

6 days ago

Morningstar

UDR expands joint venture with LaSalle via $230M investment

UDR

New Projects/Investments

UDR closed a $230 million expansion of its joint venture with LaSalle Investment Management, increasing the JV’s capital base to $850 million.
The company contributed four communities totaling 974 apartment homes—bringing the venture to 2,564 homes—retaining a 51% stake and setting JV‐level leverage at 33%.
UDR received $200 million in cash proceeds to fund share repurchases, debt repayment, and general corporate purposes.
UDR and LaSalle will explore incremental growth opportunities in 2026 for the expanded venture.

Dec 18, 2025, 9:16 PM

Press Release

UDR expands joint venture with LaSalle

UDR

New Projects/Investments

UDR and LaSalle closed on $230 million expansion of their joint venture, bringing the total venture size to approximately $850 million.
The expansion adds four apartment communities totaling 974 homes in Portland, Orlando, and Richmond, boosting the portfolio to 2,564 homes.
Under the agreement, LaSalle holds a 49% stake while UDR retains 51% ownership of the newly contributed assets.
LaSalle and UDR will explore additional growth opportunities for the joint venture in 2026.

Dec 18, 2025, 9:15 PM

Press Release

UDR reports Q3 2025 results

UDR

Earnings

Guidance Update

Share Buyback

UDR’s Q3 same-store revenue grew 2.6% and NOI grew 2.3% year-over-year, driven by 0.8% blended lease rate growth, 96.6% average occupancy, and controlled expense growth of 3.1%.
Full-year 2025 guidance was updated: same-store revenue growth midpoint raised to 2.4%, expense growth to 2.75%, FFOA per share now expected at $2.53–$2.55, and Q4 FFOA guidance set at $0.63–$0.65.
Capital deployment includes agreement to acquire a 406-unit Northern Virginia community for $147 M , repurchase of 930 k shares at $37.70 per share, and extension of a $350 M senior unsecured term loan to January 2029.
Balance sheet remains robust with > $1 B of liquidity, debt to enterprise value at 30%, net debt to EBITDA at 5.5×, and only 6% of consolidated debt maturing in 2026.

Oct 30, 2025, 4:00 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for UDR.

Q4 2025

Feb 10, 2026

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Q3 2025

Oct 30, 2025

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Q2 2025

Jul 31, 2025

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View All Transcripts

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UDR (UDR)

Analyst Earnings Quarterly Reports

Q3 2025

Q2 2025

Q1 2025

Q4 2024

Q4 2025

Executives

Thomas W. Toomey

David D. Bragg

Mike Lacy

Keith Benson

Board Members

Clint D. McDonnough

Diane M. Morefield

Jon A. Grove

Kevin C. Nickelberry

Mark R. Patterson

Mary Ann King

Richard B. Clark

Robert A. McNamara

Analyst Coverage

Alexander Goldfarb

Austin Wurschmidt

John Kim

Haendel St. Juste

Linda Tsai

Eric Wolfe

Jana Galan

Michael Goldsmith

Richard Anderson

Adam Kramer

Alexander Kim

Jamie Feldman

Steve Sakwa

Alex Kalmus

Ami Probandt

Anthony Paolone

James Feldman

John Pawlowski

John Pawlowski

Julien Blouin

Nicholas Yulico

Richard Hightower

Wesley Golladay

Alex Kim

Ann Chan

Brad Heffern

Cooper Clark

Jeffrey Spector

Joshua Dennerlein

Mason P. Guell

Nicholas Joseph

Nick Joseph

Omotayo Okusanya

Rich Hightower

Sanket Agrawal

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