UDR (UDR)

Real Estate · $11.5B market cap · SEC CIK 0000074208

Next reports on Feb 8, 2027, after the close, with analysts expecting $0.14 in earnings per share.

52-week range $33.10 to $42.00. 13% below its 52-week high and 11% above its low.

The case for UDR

• Generated $650M of free cash flow in FY2025, 38% of revenue.
• 41% of revenue drops through to net profit.
• Earnings per share up 371.8%.
• Pays a 5.0% dividend while you wait.
• Return on equity of 22%.
• Gross margin of 65% absorbs cost shocks.

The case against

• Long-term debt of $5.8B would take 6 years of operating cash flow to repay.
• Priced at 6.7× sales with revenue growing only 0.6%.
• Revenue was flat on the year (+0.6%).
• Current liabilities exceed current assets (ratio 0.00).
• Dividend takes 82% of earnings, leaving little cushion.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Real Estate companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• Each factor except momentum is half fixed thresholds, half rank among the 30 Real Estate companies.

The financials

The financials, five years deep

Pulled from UDR's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What UDR says it does

UDR is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities in targeted markets located in the United States. At December 31, 2025, our consolidated real estate portfolio consisted of 165 communities located in 21 markets, consisting of 55,240 completed apartment homes, which are held directly or through our subsidiaries, including the Operating Partnership and the DownREIT Partnership, and consolidated joint ventures. In addition, we have an ownership interest in 12,167 completed or to-be-completed apartment homes through unconsolidated joint ventures or partnerships, including 6,766 apartment homes owned by entities in which we hold preferred equity investments. At December 31, 2025, the Company was developing one wholly-owned community totaling 300 apartment homes, none of which have been completed . In…

Risk factors UDR lists in its 10-K

• Unfavorable Apartment Market and Economic Conditions Could Adversely Affect Occupancy Levels, Rental Revenues and the Value of Our Real Estate Assets
• The Geographic Concentration of Our Communities in Certain Markets Could Have an Adverse Effect on Our Operations if a Particular Market is Adversely Impacted by Economic or Other Conditions
• We May Be Unable to Renew Leases or Relet Apartment Units as Leases Expire, or the Terms of Renewals or New Leases May Be Less Favorable Than Current Leases
• We Face Certain Risks Related to Our Retail and Commercial Space
• We Face Risks Related to Inflation/Deflation
• We Are Subject to Certain Risks Associated with Selling Apartment Communities, Which Could Limit Our Operational and Financial Flexibility
• Competition Could Limit Our Ability to Lease Apartment Homes or Increase or Maintain Rents
• We May Not Realize the Anticipated Benefits of Past or Future Acquisitions, and the Failure to Integrate Acquired Communities and New Personnel Successfully Could Create Inefficiencies
• Competition Could Adversely Affect Our Ability to Acquire Properties
• Development and Construction Risks Could Impact Our Profitability
• An Epidemic, Pandemic or Other Health Crisis, and Measures Intended to Prevent the Spread of Such an Event, Could Have a Material Adverse Effect on our Business, Results of Operations, Cash Flows and Financial Condition
• Bankruptcy or Defaults of Our Counterparties Could Adversely Affect Our Performance
• Property Ownership Through Partnerships and Joint Ventures May Limit Our Ability to Act Exclusively in Our Interest
• We May Not be Permitted to Dispose of Certain Properties or Pay Down the Indebtedness Associated with Those Properties When We Might Otherwise Desire to Do so Without Incurring Additional Costs
• We Could Incur Significant Insurance Costs and Some Potential Losses May Not Be Adequately Covered by Insurance Reserves
• Failure to Succeed in New Markets May Limit Our Growth
• Failure to Succeed with New Initiatives May Limit Our Ability to Grow NOI
• Potential Liability for Environmental Contamination Could Result in Substantial Costs
• Our Properties May Contain or Develop Harmful Mold or Suffer from Other Indoor Air Quality Issues, Which Could Lead to Liability for Adverse Health Effects or Property Damage or Cost for Remediation
• Compliance or Failure to Comply with the Americans with Disabilities Act of 1990 or Other Safety Regulations and Requirements Could Result in Substantial Costs
• The Adoption of, or Changes to, Rent Control, Rent Stabilization, Eviction, Tenants’ Rights and Similar Laws and Regulations in Our Markets Could Have an Adverse Effect on Our Results of Operations and Property Values
• Compliance with or Changes in Real Estate Tax and Other Laws and Regulations Could Adversely Affect Our Funds from Operations and Our Ability to Make Distributions to Stockholders
• Risk of Damage from Catastrophic Weather and Natural Events
• Risk of Accidental Death or Injury Due to Fire, Natural Disasters or Other Hazards
• Actual or Threatened Terrorist Attacks and Other Acts of Violence, Destruction or War May Have an Adverse Effect on Our Business and Operating Results and Could Decrease the Value of Our Assets
• Mezzanine Loan or Other Loan Assets Involve Greater Risks of Loss than Senior Loans Secured by Income-Producing Properties
• Any Material Weaknesses Identified in Our Internal Control Over Financial Reporting Could Have an Adverse Effect on the Market Price of Our Common Stock
• A Breach of Information Technology Systems On Which We Rely Could Materially and Adversely Impact Our Business, Financial Condition, Results of Operations and Reputation
• Our Business and Operations Would Suffer in the Event of Information Technology System Failures
• A Failure to Keep Pace with Developments in Technology Could Impair our Operations or Competitive Position
• Our Success Depends on Our Senior Management
• Third-Party Expectations Relating to Environmental, Social and Governance Factors May Impose Additional Costs and Expose Us to New Risks
• Changing Interest Rates Could Increase Interest Costs and Adversely Affect Our Cash Flows and the Market Price of Our Common Stock
• Insufficient Cash Flow Could Affect Our Debt Financing and Create Refinancing Risk
• Failure to Generate Sufficient Income Could Impair Debt Service Payments and Distributions to Stockholders
• Financing May Not Be Available and Could Be Dilutive
• Failure To Maintain Our Current Credit Ratings Could Adversely Affect Our Cost of Funds, Related Margins, Liquidity, and Access to Capital Markets
• Disruptions in Financial Markets May Adversely Impact the Availability and Cost of Credit and Have Other Adverse Effects on Us and the Market Price of Our Common Stock
• A Change in U.S. Government Policy or Support Regarding Fannie Mae or Freddie Mac Could Have a Material Adverse Impact on Our Business
• The Soundness of Financial Institutions Could Adversely Affect Us
• Interest Rate Hedging Contracts May Be Ineffective and May Result in Material Charges
• We Would Incur Adverse Tax Consequences if We Failed to Qualify as a REIT
• Dividends Paid by REITs Generally Do Not Qualify for Reduced Tax Rates
• We Conduct a Portion of Our Business Through Taxable REIT Subsidiaries, Which Are Subject to Certain Tax Risks
• REIT Distribution Requirements Limit Our Available Cash
• Certain Property Transfers May Generate Prohibited Transaction Income, Resulting in a Penalty Tax on Gain Attributable to the Transaction
• Changes to the U.S. Federal Income Tax Laws, including the Enactment of Certain Tax Reform Measures, Could Have an Adverse Impact on Our Business and Financial Results
• We May Be Adversely Affected by Changes in State and Local Tax Laws and May Become Subject to Tax Audits from Time to Time
• The Operating Partnership and the DownREIT Partnership Intend to Qualify as Partnerships, but Cannot Guarantee That They Will Qualify
• Qualifying as a REIT Involves Highly Technical and Complex Provisions of the Code
• Changes in Market Conditions and Volatility of Stock Prices Could Adversely Affect the Market Price of Our Common Stock
• We May Change the Dividend Policy for Our Common Stock in the Future
• Maryland Law May Limit the Ability of a Third Party to Acquire Control of Us, Which May Not be in Our Stockholders

Filings

Other Real Estate companies