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UDR, Inc. (NYSE: UDR) is a prominent multifamily real estate investment trust (REIT) and a constituent of the S&P 500 index. With a proven track record, UDR excels in managing, acquiring, selling, developing, and redeveloping high-quality real estate properties in strategically targeted U.S. markets. As of December 31, 2016, the company boasted ownership or partial ownership of 49,907 apartment homes, including 3,604 homes either under development or involved in preferred equity investments. For more than 45 years, UDR has consistently delivered significant long-term value to its shareholders, provided top-notch service to its residents, and ensured a superior experience for its associates.
UDR operates through two main segments: Same-Store Communities and Non-Mature Communities/Other. The Same-Store Communities segment includes communities that were acquired, developed, and stabilized before January 1, 2021, and held as of December 31, 2022. This segment is the primary source of UDR's revenue. The Non-Mature Communities/Other segment comprises recently acquired, developed, and redeveloped communities, as well as the non-apartment components of mixed-use properties.
Recent achievements highlight UDR's commitment to growth and excellence. The company has actively engaged in several high-profile development and redevelopment projects, fostering partnerships aimed at enhancing its portfolio's value. UDR's strategic focus on targeted U.S. markets ensures that its properties are in prime locations, contributing to higher occupancy rates and rental income. Additionally, UDR places a strong emphasis on sustainability and innovation, integrating advanced technologies and environmentally friendly practices into their operations.
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.
UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust, has announced the release date for its third quarter 2024 financial results. The company will publish its earnings report on Wednesday, October 30, 2024 after market close. A conference call is scheduled for Thursday, October 31, 2024 at 1:00 p.m. Eastern Time to discuss the results.
The call will be open to the public, with company officers reviewing Q3 results and recent events. A Q&A session will be to registered financial analysts. Participants can join the webcast via UDR's website at ir.udr.com, while the live telephone conference can be accessed using provided domestic and international numbers. A replay will be available until December 1, 2024.
UDR, an S&P 500 company, owns or has an ownership position in 60,126 apartment homes as of June 30, 2024, and has a 52-year history of delivering value to shareholders.
UDR, a leading multifamily real estate investment trust, has announced its quarterly dividends for the third quarter of 2024. The company's Board of Directors declared a regular quarterly dividend of $0.425 per share on its common stock, payable on October 31, 2024 to shareholders of record as of October 10, 2024. This marks UDR's 208th consecutive quarterly dividend on common stock.
Additionally, UDR declared a quarterly dividend of $0.4602 per share on its Series E preferred stock, also payable on October 31, 2024 to shareholders of record as of October 10, 2024. UDR, an S&P 500 company, owns or has an ownership position in 60,126 apartment homes as of June 30, 2024, and has a 52-year history of delivering value to shareholders, service to residents, and quality experiences for associates.
UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust, announced its participation in the Bank of America Securities 2024 Global Real Estate Conference from September 10-12, 2024, in New York City. The UDR Executive Team will host a roundtable discussion on September 10 at 3:45 p.m. Eastern Time. The discussion will be available via webcast on the Bank of America platform and UDR's Investor Relations website.
UDR, an S&P 500 company, has a 52-year history of delivering superior returns through managing, buying, selling, developing, and redeveloping attractive real estate properties in targeted U.S. markets. As of June 30, 2024, UDR owned or had an ownership position in 60,126 apartment homes.
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