UDR, Inc.

UDR 10-Q · Q2 2025

UDR Q2 2025 request

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Income Statement

Income Statement
Metric Q2 2025 Q2 2024 YoY
Operating Lease Lease Income (Q) — — —
Show Business Segments breakouts
Non-Mature communities/Other 12,483 12,813 -2.6%
Same Communities · Same Store Communities Mid-Atlantic Region 86,461 82,662 +4.6%
Same Communities · Same Store Communities Northeast Region 82,974 80,103 +3.6%
Same Communities · Same Store Communities Southeastern Region 59,560 59,648 -0.1%
Same Communities · Same Store Communities Southwestern Region 52,251 52,513 -0.5%
Same Communities · Same Store Communities Western Region 129,272 125,589 +2.9%
Show Subsegments breakouts
Total Communities 423,001 413,328 +2.3%
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Operating Lease Lease Income 423,001 413,328 +2.3%
Revenue (Q) — — —
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Revenue 2,398 1,992 +20.4%
Revenue (Q) — — —
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Revenue 425,399 415,320 +2.4%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 93,206 78,013 +19.5%
Direct Costs Of Leased And Rented Property Or Equipment (Q) — — —
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Direct Costs Of Leased And Rented Property Or Equipment 75,613 70,443 +7.3%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 42,260 35,793 +18.1%
Real Estate Taxes And Insurance (Q) — — —
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Real Estate Taxes And Insurance 57,008 58,884 -3.2%
Property Management Costs Operating (Q) — — —
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Property Management Costs Operating 13,747 13,433 +2.3%
Other Cost And Expense Operating (Q) — — —
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Other Cost And Expense Operating 7,753 7,593 +2.1%
Depreciation Nonproduction (Q) — — —
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Depreciation Nonproduction 163,191 170,488 -4.3%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 40,099 38,091 +5.3%
General & Administrative (Q) — — —
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General & Administrative 19,929 20,136 -1.0%
Casualty Related Recoveries Charges Net (Q) — — —
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Casualty Related Recoveries Charges Net 3,382 998 +238.9%
Other Depreciation And Amortization (Q) — — —
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Other Depreciation And Amortization 7,387 4,679 +57.9%
Total Costs & Expenses (Q) — — —
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Total Costs & Expenses 348,010 346,654 +0.4%
Operating Income (Q) — — —
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Operating Income 77,389 68,666 +12.7%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 10,847 4,129 +162.7%
Income Loss From Equity Method Investments (Q) — — —
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Income Loss From Equity Method Investments 3,629 4,046 -10.3%
Interest Expense Debt (Q) — — —
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Interest Expense Debt -48,665 -47,811 -1.8%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships -36,017 -25,571 -40.9%
Other Non-Operating Income (Expense) (Q) — — —
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Other Non-Operating Income (Expense) 8,134 6,498 +25.2%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 344 -1,520 +122.6%
Income Before Taxes (Q) — — —
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Income Before Taxes 40,487 31,399 +28.9%
Income Tax Expense (Benefit) (Q) — — —
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Income Tax Expense (Benefit) -258 -386 +33.2%
Net Income (Q) — — —
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Net Income 40,229 31,013 +29.7%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships -23,808 -17,613 -35.2%
Net Income Loss Attributable To Redeemable Noncontrolling Interest (Q) — — —
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Net Income Loss Attributable To Redeemable Noncontrolling Interest -2,545 -2,013 -26.4%
Net Income Loss Attributable To Nonredeemable Noncontrolling Interest (Q) — — —
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Net Income Loss Attributable To Nonredeemable Noncontrolling Interest -11 -117 +90.6%
Show Range breakouts
Maximum -0.1 -0.1 0.0%
Net Income (Q) — — —
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income 37,673 28,883 +30.4%
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Net Income 37,673 28,883 +30.4%
Dividends Preferred Stock (Q) — — —
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Dividends Preferred Stock -1,211 -1,210 -0.1%
Net Income Loss Available To Common Stockholders Basic (Q) — — —
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Net Income Loss Available To Common Stockholders Basic 36,462 27,673 +31.8%
EPS (Basic) (Q) — — —
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EPS (Basic) 0.11 0.08 +37.5%
EPS (Diluted) (Q) — — —
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EPS (Diluted) 0.11 0.08 +37.5%
Wtd Avg Shares (Basic) (Q) — — —
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Wtd Avg Shares (Basic) 330,778 329,056 +0.5%
Wtd Avg Shares (Diluted) (Q) — — —
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Wtd Avg Shares (Diluted) 331,715 329,572 +0.7%
Selling, General & Administrative (Q) — — —
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Selling, General & Administrative 10,006 8,974 +11.5%
Interest Expense (Q) — — —
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Interest Expense -48,665 -47,811 -1.8%
Comprehensive Income (Q) — — —
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Comprehensive Income 36,361 27,557 +31.9%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax (Q) — — —
Show Derivative Risk breakouts
Interest Rate Contract · Cash Flow Hedging -27 567 -104.8%
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Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax -27 567 -104.8%
Net Income Loss Attributable To Noncontrolling Interest (Q) — — —
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Net Income Loss Attributable To Noncontrolling Interest -11 -117 +90.6%
Gain Loss On Investments (Q) — — —
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 1,018 5,349 -81.0%
Depreciation And Amortization (Q) — — —
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Depreciation And Amortization -7,387 -4,679 -57.9%
Labor And Related Expense (Q) — — —
Show Business Segments breakouts
Same Communities 18,902 17,685 +6.9%
Interest Income Operating (Q) — — —
Show Related Party Transactions By Related Party breakouts
Nonrelated Party 8.1 6.5 +24.6%

Balance Sheet

Balance Sheet
Metric Q2 2025 Q2 2024 YoY
Current Assets
Cash & Cash Equivalents (Q) — — —
Show — breakouts
Cash & Cash Equivalents 1,532 2,770 -44.7%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 74,800 69,423 +7.7%
Non-Current Assets
Operating Lease Right-of-Use Assets (Q) — — —
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Operating Lease Right-of-Use Assets 185,125 188,828 -2.0%
Total Assets (Q) — — —
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Total Assets 10,647,085 — —
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 3,658,241 — —
Other Assets
Real Estate Investment Property At Cost (Q) — — —
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Real Estate Investment Property At Cost 16,270,190 16,070,591 +1.2%
Real Estate Investment Property Accumulated Depreciation (Q) — — —
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Real Estate Investment Property Accumulated Depreciation -7,157,371 -6,572,743 -8.9%
Real Estate Held For Investment Net Excluding Real Estate Under Development Or Held For Disposition (Q) — — —
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Real Estate Held For Investment Net Excluding Real Estate Under Development Or Held For Disposition 9,112,819 9,497,848 -4.1%
Real Estate Investment Property Net (Q) — — —
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Real Estate Investment Property Net 9,153,927 — —
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 3,045,542 — —
Restricted Cash And Cash Equivalents (Q) — — —
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Restricted Cash And Cash Equivalents 33,577 31,616 +6.2%
Notes Receivable Net (Q) — — —
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Notes Receivable Net 143,492 241,842 -40.7%
Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure (Q) — — —
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Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure 879,781 958,943 -8.3%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 408,920 305,418 +33.9%
Other Assets (Q) — — —
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Other Assets 249,651 195,958 +27.4%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 128,979 134,973 -4.4%
Non-Current Liabilities
Accrual For Taxes Other Than Income Taxes Current And Noncurrent (Q) — — —
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Accrual For Taxes Other Than Income Taxes Current And Noncurrent 42,507 44,333 -4.1%
Interest Payable Current And Noncurrent (Q) — — —
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Interest Payable Current And Noncurrent 51,718 47,289 +9.4%
Dividends Payable Current And Noncurrent (Q) — — —
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Dividends Payable Current And Noncurrent 153,662 151,518 +1.4%
Accounts Payable And Accrued Liabilities Current And Noncurrent (Q) — — —
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Accounts Payable And Accrued Liabilities Current And Noncurrent 108,353 120,784 -10.3%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 164,118 169,254 -3.0%
Total Liabilities (Q) — — —
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Total Liabilities 6,363,954 — —
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 2,195,211 — —
Long-Term Debt (Q) — — —
Show Debt Instrument breakouts
1.90% Medium-Term Notes due March 2033 · Fixed Rate Debt 349,071 — —
2.10% Medium Term Note Due August 2032 · Fixed Rate Debt 399,750 — —
2.10% Medium-Term Note due June 2033 · Fixed Rate Debt 299,208 — —
3.00% Medium-Term Notes due August 2031 · Fixed Rate Debt 607,317 — —
3.10% Medium-Term Notes due November 2034 · Fixed Rate Debt 299,176 — —
3.20% Medium-Term Notes due January 2030 · Fixed Rate Debt 606,235 — —
3.50 Medium-Term Note due July 2027 · Fixed Rate Debt 299,859 — —
3.50% Medium-Term Notes Due January 2028 · Fixed Rate Debt 299,698 — —
4.40% Medium-Term Notes due January 2029 · Fixed Rate Debt 299,998 — —
5.125% Medium-Term Note due September 2034 · Fixed Rate Debt 297,199 — —
Show Financial Instrument breakouts
Fixed Rate Debt · Secured Debt 1,109,093 — —
Variable Rate Debt · Secured Debt 26,953 — —
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Long-Term Debt 5,775,583 — —
Show Long-Term Debt Type breakouts
Secured Debt 1,136,046 — —
Unsecured Debt 4,639,537 — —
Other Liabilities
Secured Debt (Q) — — —
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Secured Debt 1,136,046 1,235,748 -8.1%
Unsecured Debt (Q) — — —
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Unsecured Debt 4,639,537 4,540,388 +2.2%
Operating Lease Liability (Q) — — —
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Operating Lease Liability 180,433 184,076 -2.0%
Show Property Plant And Equipment By Type breakouts
Land 180,433 184,076 -2.0%
Advance Rent (Q) — — —
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Advance Rent 51,698 49,168 +5.1%
Redeemable Noncontrolling Interest Equity Common Carrying Amount (Q) — — —
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level2 · Estimate Of Fair Value Fair Value Disclosure 957,980 1,021,782 -6.2%
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Redeemable Noncontrolling Interest Equity Common Carrying Amount 957,980 1,021,782 -6.2%
Show Fair Value By Measurement Basis breakouts
Carrying Reported Amount Fair Value Disclosure · Fair Value Measurements Recurring 957,980 1,021,782 -6.2%
Estimate Of Fair Value Fair Value Disclosure · Fair Value Measurements Recurring 957,980 1,021,782 -6.2%
Stockholders' Equity
Preferred Stock Value (Q) — — —
Show Statement Class Of Stock breakouts
Series E Preferred Stock 43,192 43,192 0.0%
Series F Preferred Stock 1 1 0.0%
Common Stock (Q) — — —
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Common Stock 3,313 3,295 +0.5%
Additional Paid-In Capital (Q) — — —
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Additional Paid-In Capital 7,582,852 7,508,794 +1.0%
Accumulated Distributions In Excess Of Net Income (Q) — — —
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Accumulated Distributions In Excess Of Net Income -4,305,702 -3,840,808 -12.1%
Accumulated Other Comprehensive Income (Q) — — —
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Accumulated Other Comprehensive Income 1,160 7,910 -85.3%
Total Stockholders' Equity (Q) — — —
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Total Stockholders' Equity 3,324,816 3,722,384 -10.7%
Minority Interest (Q) — — —
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Minority Interest 335 335 0.0%
Stockholders Equity Including Portion Attributable To Noncontrolling Interest (Q) — — —
Show Equity Components breakouts
Accumulated Distributions In Excess Of Net Income -4,305,702 -3,840,808 -12.1%
Accumulated Other Comprehensive Income 1,160 7,910 -85.3%
Additional Paid In Capital 7,582,852 7,508,794 +1.0%
Common Stock 3,313 3,295 +0.5%
Noncontrolling Interest 335 335 0.0%
Preferred Stock 43,193 43,193 0.0%
Show — breakouts
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 3,325,151 3,722,719 -10.7%
Show Equity Method Investment Nonconsolidated Investee breakouts
Unconsolidated Joint Ventures and Partnerships 1,463,030 1,465,869 -0.2%
Total Liabilities & Equity (Q) — — —
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Total Liabilities & Equity 10,647,085 11,117,805 -4.2%
Development In Process (Q) — — —
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Development In Process 41,108 — —
Show Property Plant And Equipment By Type breakouts
Building, improvements and furniture, fixtures and equipment 27,640 — —
Land Buildings And Improvements 13,468 — —

Cash Flow Statement

Cash Flow Statement
Metric YTD Q2 2025 YTD Q2 2024 YoY
Operating Activities
Depreciation & Amortization (YTD) — — —
Show — breakouts
Depreciation & Amortization 339,039 349,341 -2.9%
Return On Investment In Equity Method Investments (YTD) — — —
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Return On Investment In Equity Method Investments 23,486 7,565 +210.5%
Stock-Based Compensation (YTD) — — —
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Stock-Based Compensation 16,260 16,681 -2.5%
Other Operating Activities Cash Flow Statement (YTD) — — —
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Other Operating Activities Cash Flow Statement 17,541 15,455 +13.5%
Increase Decrease In Operating Assets (YTD) — — —
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Increase Decrease In Operating Assets -9,223 -12,923 +28.6%
Increase Decrease In Operating Liabilities (YTD) — — —
Show — breakouts
Increase Decrease In Operating Liabilities -45,476 -17,383 -161.6%
Net Cash from Operations (YTD) — — —
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Net Cash from Operations 406,545 406,061 +0.1%
Investing Activities
Proceeds From Sale Of Real Estate Heldforinvestment (YTD) — — —
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Proceeds From Sale Of Real Estate Heldforinvestment 203,565 98,650 +106.4%
Payments To Develop Real Estate Assets (YTD) — — —
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Payments To Develop Real Estate Assets -15,265 -51,104 +70.1%
Payments For Capital Improvements (YTD) — — —
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Payments For Capital Improvements -113,247 -119,880 +5.5%
Payments To Acquire Furniture And Fixtures (YTD) — — —
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Payments To Acquire Furniture And Fixtures -28,628 -10,909 -162.4%
Payments To Acquire Interest In Subsidiaries And Affiliates (YTD) — — —
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Payments To Acquire Interest In Subsidiaries And Affiliates -21,490 -9,189 -133.9%
Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital (YTD) — — —
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Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital 46,127 8,743 +427.6%
Payments For Proceeds From Loans Receivable (YTD) — — —
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Payments For Proceeds From Loans Receivable -112,000 -270 -41381.5%
Net Cash from Investing (YTD) — — —
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Net Cash from Investing -40,938 -79,335 +48.4%
Financing Activities
Repayments Of Secured Debt (YTD) — — —
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Repayments Of Secured Debt -3,231 -41,596 +92.2%
Proceeds From Repayments Of Commercial Paper (YTD) — — —
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Proceeds From Repayments Of Commercial Paper -69,900 21,925 -418.8%
Proceeds From Repayments Of Lines Of Credit (YTD) — — —
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Proceeds From Repayments Of Lines Of Credit 20,854 -3,036 +786.9%
Payments Of Dividends Minority Interest (YTD) — — —
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Payments Of Dividends Minority Interest -19,801 -20,956 +5.5%
Payments Of Dividends Preferred Stock And Preference Stock (YTD) — — —
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Payments Of Dividends Preferred Stock And Preference Stock -2,408 -2,457 +2.0%
Payments Of Dividends Common Stock (YTD) — — —
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Payments Of Dividends Common Stock -283,174 -278,209 -1.8%
Proceeds From Payments For Other Financing Activities (YTD) — — —
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Proceeds From Payments For Other Financing Activities -8,265 -2,877 -187.3%
Net Cash from Financing (YTD) — — —
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Net Cash from Financing -365,925 -327,206 -11.8%
Amortization of Financing Costs (YTD) — — —
Show Income Statement Location breakouts
Interest Expense 2.5 2.5 0.0%
Supplemental
Interest Paid (YTD) — — —
Show — breakouts
Interest Paid 96,670 97,636 -1.0%
Proceeds From Lease Payments (YTD) — — —
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Proceeds From Lease Payments 6,251 6,251 0.0%
Income Taxes Paid (YTD) — — —
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Income Taxes Paid 1,274 898 +41.9%
Notes Receivables Settled In Exchange For Real Estate Owned (YTD) — — —
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Notes Receivables Settled In Exchange For Real Estate Owned 180,700 — —
Conversion Of Notes Receivable To Equity Securities Upon Sale Of Borrower Assets To Unaffiliated Third Party (YTD) — — —
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Conversion Of Notes Receivable To Equity Securities Upon Sale Of Borrower Assets To Unaffiliated Third Party 42,807 — —
Unpaid Capital Expenditures (YTD) — — —
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Unpaid Capital Expenditures 23,433 27,881 -16.0%
Conversion Of Stock Amount Converted1 (YTD) — — —
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Conversion Of Stock Amount Converted1 6,933 12,476 -44.4%
Other Cash Flow
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents (Q) — — —
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Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 35,109 34,386 +2.1%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect (YTD) — — —
Show — breakouts
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect -318 -480 +33.8%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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