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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, Inc. (NYSE: UDR), a leading multifamily real estate investment trust, will release its second quarter 2022 financial results on July 26, 2022, after market close. A conference call will be held on July 27, 2022, at 1:00 p.m. Eastern Time to discuss results and recent events, with a Q&A session for financial analysts. UDR owns or has an ownership stake in 57,904 apartment homes, including 1,564 under development, demonstrating a commitment to delivering reliable returns and quality service to residents and shareholders.
UDR, Inc. (NYSE: UDR) announced a quarterly dividend of $0.38 per share on its common stock for Q2 2022, payable on August 1, 2022. This marks the 199th consecutive quarterly dividend. Shareholders on record as of July 11, 2022 will receive the payment. Additionally, a dividend of $0.4114 per share on its Series E preferred stock has also been declared, with the same payment date and record date. UDR continues to showcase its commitment to returning value to shareholders through consistent dividend payments.
UDR, Inc. has appointed Joseph D. Fisher, previously CFO, as the new President, expanding his responsibilities to include company-wide innovation, ESG oversight, and human capital management. Fisher has been a part of UDR since January 2017 and is recognized as a talented leader in the multifamily industry. UDR's Chairman and CEO, Tom Toomey, highlighted the strategic milestones achieved under Fisher's tenure. This leadership change aims to strengthen UDR's executive team and enhance performance and value creation opportunities.
UDR reported strong first-quarter 2022 results, with net income per diluted share rising to $0.04, a 300% increase year-over-year. Funds from Operations (FFO) per diluted share increased 69% to $0.54. Same-store revenue grew 10.8% year-over-year, while occupancy reached 97.3%. The company has raised its full-year 2022 guidance, anticipating net income per share between $0.24 and $0.30. UDR's balance sheet remains solid with $1.7 billion in liquidity and an improved net debt-to-EBITDA ratio of 6.4x.
UDR, Inc. will announce its first quarter 2022 financial results on April 26, 2022, after market close. A conference call for analysts will take place on April 27, 2022, at 1:00 p.m. ET, available to the public via webcast. UDR, recognized as the GRESB Global Sector Leader, manages over 57,000 apartment homes across the U.S., with a strong focus on delivering returns through strategic property management and development.
UDR, Inc. has announced a public offering of 7,000,000 shares of common stock, aiming for gross proceeds of approximately $406 million. Morgan Stanley and Citigroup are the joint book-running managers. The offering involves forward sale agreements, with the company not initially receiving proceeds but intending to use future funds for land acquisitions, capital investments, and working capital. The expected closing date is April 1, 2022. This offering is made under the existing shelf registration with the SEC, and no immediate sales will occur until specified conditions are met.
UDR, Inc. (NYSE: UDR) has announced an underwritten public offering of 7,000,000 shares of common stock as part of forward sale agreements with Morgan Stanley and Citigroup. The company will not receive immediate proceeds from this offering, which is structured to enable them to set future share prices while delaying issuance. Net proceeds, when received, are intended for land acquisitions, capital investments, and general corporate purposes, including debt repayment. The offering is conducted under a currently effective shelf registration statement.
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