Udr Inc Stock Price, News & Analysis

UDR announced its Q4 and full-year 2024 results, showing mixed performance. Q4 Net Income per share declined 120% YOY to $(0.02), while FFO decreased 21% to $0.48. Same-Store NOI grew 2.1% YOY in Q4, with revenue up 2.5% and expenses increasing 3.4%.

For full-year 2024, Net Income per share fell 81% to $0.26, while FFOA showed a modest 1% increase to $2.48. The company recorded a non-cash loan reserve of $37.3 million related to its 1300 Fairmount investment.

Post quarter-end, UDR completed the sales of two properties: Leonard Pointe for $127.5 million and One William for $84.0 million. The company established its 2025 guidance with FFOA projected at $2.45-$2.55 per share and Same-Store NOI growth of 0.50%-3.00%. The Board announced a 1.2% increase in the annual dividend to $1.72 per share for 2025.

Funnel, an AI-powered multifamily CRM provider, announced a partnership with UDR (NYSE: UDR), the 14th-largest multifamily owner-operator in the United States. UDR will implement Funnel's complete product suite across its nearly 60,000-unit national portfolio, including renter-centric® CRM, AI solution, fraud prevention, ResApp, and syndication services.

As an early pioneer in multifamily centralization, UDR is transitioning to Funnel's unified, omnichannel communication platform to streamline operations and enhance efficiency. The partnership aims to simplify team member workflows through transparent communication routing and AI-assisted task management for activities like tour scheduling, application screening, and inquiry handling.

Funnel currently serves 9 of the top 25 NMHC owners and operators, and UDR becomes the 4th of 6 largest REITs to adopt their technology solutions.

UDR, a leading multifamily real estate investment trust, has released its 2024 tax distribution report for shareholders. The company paid quarterly distributions totaling $1.695 per common share and $1.835400 per Series E preferred share throughout 2024. The distributions were split across different tax categories, including ordinary dividends, qualified dividends, capital gain distributions, and section 199A dividends.

For common shares, out of the total $1.695 distribution, $1.593551 was classified as ordinary dividends, with $0.101449 as capital gain distributions. For Series E preferred shares, from the total $1.835400, $1.725551 was ordinary dividends, with $0.109849 as capital gain distributions.

Shareholders will receive IRS Form 1099-DIV from EQ Shareowner Services detailing these distributions. As of September 30, 2024, UDR owned or had ownership positions in 60,123 apartment homes.

UDR, a leading S&P 500 multifamily real estate investment trust, has announced the release of its fourth quarter and full-year 2024 financial results, scheduled for February 5, 2025 after market close. The company will host a conference call on February 6, 2025 at 12:00 p.m. Eastern Time.

The conference call will be open to the public, with a Q&A session to registered financial analysts. Other participants will have listen-only access. UDR owns or has ownership positions in 60,123 apartment homes as of September 30, 2024, and has been delivering value to shareholders for over 52 years.

UDR Inc. (NYSE: UDR) announced preliminary Q4 2024 financial results. The company expects Funds From Operations as Adjusted (FFOA) per diluted share of $0.63 for Q4 2024 and $2.48 for full-year 2024, aligning with previous guidance.

Same-Store performance showed revenue growth of 2.5% in Q4 2024, with Net Operating Income (NOI) increasing by 2.1%. Physical occupancy improved to 96.8% in Q4 from 96.3% in Q3, though blended lease rate growth declined to -0.6%.

In investment activity, UDR entered agreements to sell two properties: Leonard Pointe for $127.5M and One William for $84.0M, with closings expected in Q1 2025. The company received a $38.5M paydown on its Upton Place investment and expects to record a non-cash loan reserve of approximately $37M related to its 1300 Fairmount investment.

UDR Inc. (NYSE: UDR), a leading multifamily real estate investment trust, has announced key executive management changes effective January 1, 2025. Mike Lacy, who has been with the company since 2006, has been promoted to Chief Operating Officer (COO) from his current position as Senior Vice President – Operations. Additionally, Joe Fisher has been appointed Chief Investment Officer (CIO) while maintaining his role as President and CFO.

The company will initiate an executive search for a new Chief Financial Officer, after which Fisher will continue as President and CIO. UDR currently owns or has ownership positions in 60,123 apartment homes and has a 52-year track record of delivering value to shareholders.

UDR, a leading S&P 500 multifamily real estate investment trust, has declared its 209th consecutive quarterly dividend. The company announced a Q4 2024 common stock dividend of $0.425 per share, payable on January 31, 2025, to shareholders of record as of January 9, 2025. Additionally, UDR declared a quarterly dividend on Series E preferred stock of $0.4602 per share with the same payment and record dates.

As of September 30, 2024, UDR owned or had ownership positions in 60,123 apartment homes across targeted U.S. markets, maintaining a 52-year track record of delivering value to shareholders.

UDR announced its third quarter 2024 results, reporting a net income of $0.06 per diluted share, down 40% year-over-year. The company's Same-Store portfolio showed revenue growth of 1.2% YOY, with expense growth of 2.0% and NOI growth of 0.8%. During Q3, UDR issued $300 million in 10-year senior unsecured debt and extended its $1.3 billion credit facility maturity to August 2028. Based on solid performance, UDR raised its full-year 2024 guidance, with Same-Store revenue growth now expected at 2.00-2.40% and NOI growth at 1.00-1.40%. The company maintained strong occupancy levels in the mid-96% range with renewal rate growth around 4%.

UDR has published its sixth annual ESG Report, highlighting significant achievements in environmental, social, and governance initiatives for 2023. Environmental achievements include a 20% reduction in Scope 1 and 2 emissions intensity since 2020, 30% renewable energy procurement, and certification of seven additional sustainable properties. Social accomplishments feature a low 22% associate turnover rate and enhanced talent development strategies. Governance improvements include expanding social governance framework and aligning compensation with ESG priorities.

The company has committed an additional $10 million to ESG and Climate Technology Funds, bringing total commitment to $30 million. UDR now has 36 sustainably certified properties, representing nearly 20% of its portfolio.