UDR, Inc. (NYSE: UDR), a distinguished S&P 500 company, stands as a premier multifamily real estate investment trust. The company boasts a ...
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$1.73 per share
$1.73 per share
Est. EPS $0.14 · Revenue $428.72M · 8 analysts
Est. EPS $0.15 · Revenue $429.88M · 3 analysts
EPS $0.23 · Revenue $421.95M
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $1.7B | +2.4% | -0.1% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $377.7M | +321.6% | -63.6% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +25.6% | +2.6% | +7.9% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +18.8% | +10.6% | -59.7% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +22.1% | +311.6% | -63.6% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $613.9M | +1.5% | +138.6% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +35.9% | -0.9% | +138.9% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 188.2% | +7.8% | +14.7% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 3.31x | +749.9% | -69.1% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $10.6B | -2.7% | -0.7% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 1.13 vs 0.58 | +94.6% | 0.22 vs 0.14 | +51.7% |
| Revenue Surprise | $1.7B vs $1.7B | +0.5% | $425.4M vs $428.7M | -0.8% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Jul 23, 2026 | Bragg David D. | officer: SVP - Chief Financial Officer | Common Stock | D | 2,134 | $39.48 |
| Jun 5, 2026 | TOOMEY THOMAS W | director, officer: Chairman, President and CEO | Common Stock | D | 80,000 | $39.25 |
| Feb 12, 2026 | BENSON KEITH | officer: SVP-Chief Legal Officer | Common Stock | A | 12,330 | — |
| Feb 12, 2026 | BENSON KEITH | officer: SVP-Chief Legal Officer | Common Stock | D | 2,845 | $38.17 |
| Feb 12, 2026 | Lacy Michael D | officer: SVP-COO | Class 2 LTIP Units | D | 49,091 | — |
Operator : Greetings. Welcome to UDR's Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Vice President of Investor Relations, Trent Trujillo. Thank you, Mr. Trujillo. You may begin. Trent Trujillo : Thank you, and welcome to UDR's quarterly financial results conference call. Our press release and supplemental disclosure package were distributed yesterday afternoon and posted to the Investor Relations section of our website, ir.udr.com. In the supplement, we have reconciled all non-GAAP financial measures to the most directly comparable GAAP measure in accordance with Reg G requirements. Statements made during this call, which are not historical, may constitute forward-looking statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be met. A discussion of risks and risk factors are detailed in our press release and included in our filings with the SEC. We do not undertake a duty to update any forward-looking statements. When we get to the question-and-answer portion, to be respectful of everyone's time and in an attempt to complete our call within 1 hour, we will limit questions to 1 per analyst. We kindly ask that you rejoin the queue if you have a follow-up question or additional items to discuss. Management will be available after the call to address any questions that did not get answered during the Q&A session today. I will now turn over the call to UDR's Chairman, President and CEO, Tom Toomey. Tom Toomey : Thank you, Trent, and welcome to UDR's Second Quarter 2026 Conference Call. Presenting on the call with me today are Chief Operating Officer, Mike Lacy; Chief Financial Officer, Dave Bragg; and Senior Officer, Chris Van Ens, who will be available during the Q&A portion of the call. To begin, the fundamentals of the apartment industry have been favorable in 2026, specifically employment growth has exceeded consensus expectations. Housing affordability remains in favor of renting relative to homeownership and new supply of apartment homes continues to abate. This backdrop, combined with our execution across operations and capital allocation, produced second quarter results that exceeded our expectations. In turn, this led us to raise our full year same-store growth and FFOA per share guidance. Operationally, we performed exceptionally well. The apartment industry is strengthening, but what differentiates UDR is our data-driven capabilities, continuous innovation and disciplined execution. Mike will elaborate on our operating strategies and tactics employed to generate results that delivered more cash to our bottom line. As it relates to capital allocation, we follow a data-driven approach to risk-adjusted returns when determining sources and uses of capital, which we visualize through a heat map. This …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Keith Benson | Senior VP & Chief Legal Officer | USD 2,025,063 | Male | 1973 | Active |
David Dooley Bragg | Senior Vice President & Chief Financial Officer | USD 1,133,621 | Male | 1980 | Active |
Thomas W. Toomey | Chairman, President & Chief Executive Officer | USD 923,318 | Male | 1961 | Active |
Michael D. Lacy | Senior Vice President & Chief Operating Officer | USD 893,123 | Male | 1982 | Active |
Joshua A. Gampp | Senior Vice President & Chief Technology Officer | — | Male | 1977 | Active |
Trent Nathan Trujillo | Vice President of Investor Relations | — | Male | — | Active |
Tracy L. Hofmeister | Senior Vice President & Chief Accounting Officer | — | Male | 1971 | Active |
Philip J. Curry | Vice President of Information & Security | — | — | — | Active |
Shane Summers | Vice President of Operations, Sourcing & Administration | — | — | — | Active |
H. Andrew Cantor | Senior Vice President of Investments | — | Male | 1970 | Active |
UDR is rated an uneven 'Hold' due to a strong balance sheet but significant refinancing risk from a short maturity wall. UDR's diversified portfolio is now 81.3% coastal, positioning it to benefit from coastal market recovery, with Q2 SS NOI up 1.4%. Operational efficiency is supported by AI-driven retention, but future AFFO and dividend safety are pressured by higher refinancing costs.
UDR, Inc. (UDR) Q2 2026 Earnings Call Transcript
United Dominion Realty Trust NYSE: UDR raised its full-year outlook after reporting second-quarter results that exceeded its expectations, supported by stronger apartment operating trends, higher retention and expense controls.
UDR outpaces Q2 FFO estimates, delivers stronger leasing and same-store growth, and raises its 2026 FFO outlook as occupancy and resident retention remain strong.
UDR remains a "Hold" as muted rental markets and supply overhangs limit near-term upside despite recent 8% share price appreciation. Legacy market focus has insulated UDR from Sun Belt weakness, but slow rent recovery means FFO and dividend growth will likely remain subdued through 2027. Balance sheet leverage at 5.6x EBITDA is manageable; capital allocation prioritizes buybacks and selective asset sales over new developments.
