Udr Inc Stock Price, News & Analysis

UDR, Inc. (NYSE: UDR) reported its first quarter 2023 results, demonstrating strong financial performance. Net income per diluted share stood at $0.09, just below guidance. Funds from Operations (FFO) per diluted share was $0.59, matching expectations with a 9% year-over-year increase. Adjusted Funds from Operations (AFFO) grew 12% year-over-year to $0.57. The company completed The MO, a $145 million apartment community, and stabilized two others in Dallas and Philadelphia. Revenue increased 11.8% to $399.5 million, mainly due to same-store growth and prior investments. The company reaffirmed its full-year guidance, projecting FFOA per share between $2.45 and $2.53. Positive outlook on growth was expressed by management, supported by stable demand and robust liquidity of $957.4 million.

UDR, Inc. (NYSE: UDR) will announce its first quarter 2023 financial results on April 26, 2023, after market close, followed by a conference call on April 27, 2023, at 12:00 p.m. ET. The call will be accessible to the public, with a question-and-answer session exclusively for registered financial analysts. Interested participants can listen to the webcast via UDR's investor relations website. UDR owns or holds an interest in 58,390 apartment homes, including 554 under development, and is recognized for its sustainability with a GRESB 5 Star rating. The playback of the conference call will be available for 30 days, ensuring stakeholders can review key discussions regarding the company's performance and future outlook.

UDR, Inc. has declared a quarterly dividend of $0.42 per share for Q1 2023, payable on May 1, 2023, to shareholders of record as of April 10, 2023. This marks the 202nd consecutive dividend payment. Additionally, a preferred stock dividend of $0.4548 per share will also be paid on the same date. The company’s annualized common dividend for 2023, at $1.68 per share, reflects a 10.5% increase from $1.52 per share in 2022. UDR, a leading multifamily REIT, manages over 58,000 apartment homes across the U.S.

UDR, Inc. (NYSE: UDR), a prominent multifamily real estate investment trust, announced that Chairman and CEO Thomas W. Toomey and the executive team will participate in a roundtable discussion at the 2023 Citi Global Property CEO Conference. This event is scheduled for March 6, 2023, at 3:40 p.m. Eastern Time in Hollywood, Florida. The discussion will be available as a webcast at https://kvgo.com/citi/udr-march-2023 and accessible on the Investor Relations section of the UDR website. A replay will be available for 30 days. UDR remains committed to sustainable practices, evidenced by its GRESB 5 Star rating.

UDR reported its Q4 and FY 2022 results, with notable metrics reflecting mixed performance. Q4 2022 net income per diluted share reached $0.13, a 65% decrease from the previous year. Funds from Operations (FFO) per share was $0.56, an 11% decline. However, Adjusted FFO (AFFO) per diluted share rose 13% to $0.53. Total revenue for Q4 2022 increased by 14.8% YOY to $399.7 million. The Board approved a 10.5% dividend increase, raising the annualized amount to $1.68. Proceeds from equity sales reduced debt-to-EBITDA to 5.6x. Looking ahead, UDR anticipates mid-single digit NOI growth for 2023.