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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 declared a regular quarterly dividend of $0.425 per share on its common stock for Q2 2024, payable on July 31, 2024, to shareholders of record as of July 10, 2024. This marks the 207th consecutive quarterly dividend by UDR. Additionally, UDR announced a quarterly dividend of $0.4602 per share on its Series E preferred stock, also payable on July 31, 2024, to shareholders of record as of July 10, 2024. UDR manages, buys, sells, develops, and redevelops real estate properties, owning 60,124 apartment homes as of March 31, 2024.
UDR, Inc. (NYSE: UDR) announced its first quarter 2024 results, showing growth in Net Income, FFO, FFOA, and AFFO per diluted share. Same-store revenue increased by 3.1% year-over-year. The Company sold Crescent Falls Church for $100.0 million, completed development at Villas at Fiori, and refinanced a senior construction loan. CEO Tom Toomey highlighted strong leasing conditions and strategic value. Full-year 2024 guidance ranges were raised for FFOA and AFFO per diluted share.
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