UDR Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), UDR Inc reported revenue of $1.7B (+2.4% year on year) and net income of $403.7M (+321.1% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental income | $1.7B | $1.7B | $1.6B | $1.5B |
| Joint venture management and other fees | $11.4M | $8.3M | $6.8M | $5.0M |
| Total revenues | $1.7B | $1.7B | $1.6B | $1.5B |
| Property operating and maintenance | $305.0M | $292.6M | $273.7M | $250.3M |
| Real estate taxes and insurance | $233.8M | $232.1M | $232.2M | $221.7M |
| Property management | $55.3M | $54.1M | $52.7M | $49.2M |
| Other operating expenses | $30.7M | $30.4M | $20.2M | $17.5M |
| Real estate depreciation and amortization | $654.1M | $676.1M | $676.4M | $665.2M |
| General and administrative | $85.1M | $84.3M | $69.9M | $64.1M |
| Casualty-related charges/(recoveries), net | $11.7M | $15.2M | $3.1M | $9.7M |
| Other depreciation and amortization | $25.9M | $19.4M | $15.4M | $14.3M |
| Total operating expenses | $1.4B | $1.4B | $1.3B | $1.3B |
| Gain/(loss) on sale of real estate owned | $242.9M | $16.9M | $351.2M | $25.5M |
| Operating income | $553.6M | $284.6M | $635.0M | $250.8M |
| Income/(loss) from unconsolidated entities | $28.4M | $20.2M | $4.7M | $4.9M |
| Interest expense | ($196.6M) | ($195.7M) | ($180.9M) | ($155.9M) |
| Interest income and other income/(expense), net | $19.2M | ($12.3M) | $17.8M | ($6.9M) |
| Income/(loss) before income taxes | $404.6M | $96.8M | $476.6M | $92.9M |
| Tax (provision)/benefit, net | ($835.0K) | ($879.0K) | ($2.1M) | ($349.0K) |
| Net income/(loss) | $403.7M | $95.9M | $474.5M | $92.6M |
| Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | ($26.0M) | ($6.2M) | ($30.1M) | ($5.6M) |
| Net (income)/loss attributable to noncontrolling interests | ($46.0K) | ($46.0K) | ($31.0K) | ($42.0K) |
| Net income/(loss) attributable to UDR, Inc. | $377.7M | $89.6M | $444.4M | $86.9M |
| Distributions to preferred stockholders - Series E (Convertible) | ($4.8M) | ($4.8M) | ($4.8M) | ($4.4M) |
| Net income/(loss) attributable to common stockholders | $372.9M | $84.8M | $439.5M | $82.5M |
| Income/(loss) per weighted average common share - basic | $1.13 | $0.26 | $1.34 | $0.26 |
| Income/(loss) per weighted average common share - diluted | $1.13 | $0.26 | $1.34 | $0.26 |
| Weighted average number of common shares outstanding - basic | 330.3M | 329.3M | 328.8M | 321.7M |
| Weighted average number of common shares outstanding - diluted | 331.1M | 330.1M | 329.1M | 322.7M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rental income | $422.9M | $423.3M | $429.3M | $423.0M |
| Joint venture management and other fees | $2.5M | $2.5M | $2.6M | $2.4M |
| Total revenues | $425.4M | $425.8M | $431.9M | $425.4M |
| Property operating and maintenance | $76.3M | $80.7M | $79.4M | $75.6M |
| Real estate taxes and insurance | $56.8M | $59.9M | $57.8M | $57.0M |
| Property management | $13.7M | $13.8M | $14.0M | $13.7M |
| Other operating expenses | $13.0M | $9.4M | $7.0M | $7.8M |
| Real estate depreciation and amortization | $160.1M | $161.3M | $165.9M | $163.2M |
| General and administrative | $18.7M | $19.4M | $22.7M | $19.9M |
| Casualty-related charges/(recoveries), net | $3.1M | $5.7M | $1.8M | $3.4M |
| Other depreciation and amortization | $3.5M | $3.3M | $7.0M | $7.4M |
| Total operating expenses | $345.2M | $353.5M | $355.5M | $348.0M |
| Gain/(loss) on sale of real estate owned | $35.7M | $157.4M | — | — |
| Operating income | $115.9M | $229.8M | $76.4M | $77.4M |
| Income/(loss) from unconsolidated entities | $3.3M | $19.7M | $14.0M | $3.6M |
| Interest expense | ($47.6M) | ($48.6M) | ($50.6M) | ($48.7M) |
| Interest income and other income/(expense), net | $2.6M | $2.4M | $3.7M | $8.1M |
| Income/(loss) before income taxes | $74.1M | $203.4M | $43.5M | $40.5M |
| Tax (provision)/benefit, net | ($429.0K) | ($455.0K) | ($382.0K) | ($258.0K) |
| Net income/(loss) | $73.7M | $202.9M | $43.1M | $40.2M |
| Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | ($4.6M) | ($13.1M) | ($2.7M) | ($2.5M) |
| Net (income)/loss attributable to noncontrolling interests | ($11.0K) | ($12.0K) | ($12.0K) | ($11.0K) |
| Net income/(loss) attributable to UDR, Inc. | $69.0M | $189.8M | $40.4M | $37.7M |
| Distributions to preferred stockholders - Series E (Convertible) | ($1.2M) | ($1.2M) | ($1.2M) | ($1.2M) |
| Net income/(loss) attributable to common stockholders | $67.8M | $188.6M | $39.2M | $36.5M |
| Income/(loss) per weighted average common share - basic | $0.21 | $0.58 | $0.12 | $0.11 |
| Income/(loss) per weighted average common share - diluted | $0.21 | $0.57 | $0.12 | $0.11 |
| Weighted average number of common shares outstanding - basic | 323.0M | 327.3M | 330.7M | 330.8M |
| Weighted average number of common shares outstanding - diluted | 323.3M | 330.3M | 331.2M | 331.7M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Real estate held for investment | $16.4B | $16.0B | $15.8B | $15.4B |
| Less: accumulated depreciation | ($7.4B) | ($6.8B) | ($6.2B) | ($5.8B) |
| Real estate held for investment, net | $9.0B | $9.2B | $9.5B | $9.6B |
| Real estate under development (net of accumulated depreciation of $0 and $0, respectively) | $72.9M | — | $160.2M | $189.8M |
| Total real estate owned, net of accumulated depreciation | $9.1B | $9.3B | $9.8B | $9.8B |
| Cash and cash equivalents | $1.2M | $1.3M | $2.9M | $1.2M |
| Restricted cash | $35.7M | $34.1M | $31.9M | $29.0M |
| Notes receivable, net | $150.0M | $247.8M | $228.8M | $54.7M |
| Investment in and advances to unconsolidated joint ventures, net | $886.5M | $917.5M | $952.9M | $754.4M |
| Operating lease right-of-use assets | $187.6M | $187.0M | $190.6M | $194.1M |
| Other assets | $231.3M | $197.5M | $210.0M | $197.5M |
| Total assets | $10.6B | $10.9B | $11.4B | $11.0B |
| Secured debt, net | $961.2M | $1.1B | $1.3B | $1.1B |
| Unsecured debt, net | $4.9B | $4.7B | $4.5B | $4.4B |
| Operating lease liabilities | $183.0M | $182.3M | $185.8M | $189.2M |
| Real estate taxes payable | $45.6M | $46.4M | $47.1M | $37.7M |
| Accrued interest payable | $51.7M | $52.6M | $47.7M | $46.7M |
| Security deposits and prepaid rent | $61.2M | $61.6M | $50.5M | $52.0M |
| Distributions payable | $151.9M | $151.7M | $149.6M | $134.2M |
| Accounts payable, accrued expenses, and other liabilities | $142.1M | $115.1M | $141.3M | $153.2M |
| Total liabilities | $6.5B | $6.4B | $6.4B | $6.1B |
| Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | $860.0M | $1.0B | $961.1M | $839.9M |
| Preferred stock, no par value; 50,000,000 shares authorized at December 31, 2025 and December 31, 2024: | 43.2M | 43.2M | 44.6M | 44.6M |
| Common stock, $0.01 par value; 450,000,000 shares authorized at December 31, 2025 and December 31, 2024: 328,273,044 and 330,858,719 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively | 3.3M | 3.3M | 3.3M | 3.3M |
| Additional paid-in capital | $7.5B | $7.6B | $7.5B | $7.5B |
| Distributions in excess of net income | ($4.2B) | ($4.2B) | ($3.6B) | ($3.5B) |
| Accumulated other comprehensive income/(loss), net | $1.7M | $3.6M | $4.9M | $8.3M |
| Total stockholders' equity | $3.3B | $3.4B | $4.0B | $4.1B |
| Noncontrolling interests | $335.0K | $335.0K | $210.0K | $210.0K |
| Total equity | $3.3B | $3.4B | $4.0B | $4.1B |
| Total liabilities and equity | $10.6B | $10.9B | $11.4B | $11.0B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Real estate held for investment | $16.1B | $16.1B | $16.3B | $16.3B |
| Less: accumulated depreciation | ($7.4B) | ($7.4B) | ($7.3B) | ($7.2B) |
| Real estate held for investment, net | $8.7B | $8.7B | $9.0B | $9.1B |
| Real estate under development (net of accumulated depreciation of $0 and $0, respectively) | $147.6M | $91.7M | $52.7M | $41.1M |
| Real estate held for disposition (net of accumulated depreciation of $79,664 and $0, respectively) | $54.4M | — | — | — |
| Total real estate owned, net of accumulated depreciation | $8.9B | $8.8B | $9.1B | $9.2B |
| Cash and cash equivalents | $1.2M | $1.3M | $1.2M | $1.5M |
| Restricted cash | $34.9M | $33.5M | $35.1M | $33.6M |
| Notes receivable, net | $171.7M | $153.6M | $146.7M | $143.5M |
| Investment in and advances to unconsolidated joint ventures, net | $728.8M | $757.7M | $911.6M | $879.8M |
| Operating lease right-of-use assets | $185.6M | $186.6M | $184.2M | $185.1M |
| Other assets | $266.0M | $370.9M | $242.1M | $249.7M |
| Total assets | $10.3B | $10.3B | $10.6B | $10.6B |
| Secured debt, net | $933.1M | $959.6M | $1.1B | $1.1B |
| Unsecured debt, net | $4.9B | $4.7B | $4.7B | $4.6B |
| Operating lease liabilities | $181.0M | $182.0M | $179.5M | $180.4M |
| Real estate taxes payable | $41.8M | $35.4M | $67.7M | $42.5M |
| Accrued interest payable | $51.4M | $27.8M | $28.4M | $51.7M |
| Security deposits and prepaid rent | $58.5M | $59.6M | $60.6M | $51.7M |
| Distributions payable | $150.9M | $152.9M | $153.8M | $153.7M |
| Accounts payable, accrued expenses, and other liabilities | $128.5M | $107.1M | $126.3M | $108.4M |
| Total liabilities | $6.4B | $6.2B | $6.5B | $6.4B |
| Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | $900.3M | $819.8M | $876.1M | $958.0M |
| Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 43.2M | 43.2M | 43.2M | 43.2M |
| Common stock, $0.01 par value; 450,000,000 shares authorized at June 30, 2026 and December 31, 2025: 321,266,356 and 328,273,044 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 3.2M | 3.3M | 3.3M | 3.3M |
| Additional paid-in capital | $7.2B | $7.4B | $7.6B | $7.6B |
| Distributions in excess of net income | ($4.3B) | ($4.1B) | ($4.3B) | ($4.3B) |
| Accumulated other comprehensive income/(loss), net | $2.9M | $2.4M | $1.9M | $1.2M |
| Total stockholders' equity | $2.9B | $3.3B | $3.3B | $3.3B |
| Noncontrolling interests | $336.0K | $335.0K | $335.0K | $335.0K |
| Total equity | $2.9B | $3.3B | $3.3B | $3.3B |
| Total liabilities and equity | $10.3B | $10.3B | $10.6B | $10.6B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income/(loss) | $403.7M | $95.9M | $474.5M | $92.6M |
| Depreciation and amortization | $680.0M | $695.5M | $691.8M | $679.6M |
| (Gain)/loss on sale of real estate owned | ($242.9M) | ($16.9M) | ($351.2M) | ($25.5M) |
| (Income)/loss from unconsolidated entities | ($28.4M) | ($20.2M) | ($4.7M) | ($4.9M) |
| Return on investment in unconsolidated joint ventures and partnerships | $53.9M | $61.3M | $15.9M | $22.4M |
| Amortization of share-based compensation | $26.5M | $32.6M | $32.9M | $27.5M |
| Provision/(recovery) for credit losses | ($213.0K) | $37.5M | — | — |
| Other | $32.5M | $27.1M | $9.8M | $31.8M |
| (Increase)/decrease in operating assets | ($8.4M) | ($31.1M) | ($33.6M) | $9.8M |
| Increase/(decrease) in operating liabilities | ($13.9M) | ($4.8M) | ($2.8M) | ($13.1M) |
| Net cash provided by/(used in) operating activities | $902.9M | $876.8M | $832.7M | $820.1M |
| Acquisition of real estate assets | ($147.2M) | — | ($17.8M) | ($341.1M) |
| Proceeds from sales of real estate investments, net | $373.5M | $98.7M | $325.8M | $40.8M |
| Development of real estate assets | ($43.7M) | ($67.5M) | ($155.9M) | ($198.0M) |
| Capital expenditures and other major improvements - real estate assets | ($252.9M) | ($249.9M) | ($295.4M) | ($214.8M) |
| Capital expenditures - non-real estate assets | ($36.1M) | ($21.8M) | ($16.9M) | ($21.2M) |
| Investment in unconsolidated joint ventures and partnerships | ($83.0M) | ($50.3M) | ($71.4M) | ($201.4M) |
| Distributions received from unconsolidated joint ventures and partnerships | $150.3M | $41.1M | $14.4M | $81.4M |
| Repayment/(issuance) of notes receivable, net | ($112.0M) | ($32.2M) | ($85.3M) | ($75.2M) |
| Net cash provided by/(used in) investing activities | ($151.0M) | ($276.4M) | ($289.1M) | ($929.5M) |
| Payments on secured debt | ($178.3M) | ($138.0M) | ($1.2M) | ($1.1M) |
| Net proceeds/(repayment) of commercial paper | $155.1M | ($118.2M) | $108.1M | $80.0M |
| Net proceeds/(repayment) of revolving bank debt | $17.0M | $4.8M | ($23.4M) | ($1.5M) |
| Repurchase of common shares | -117.8M | — | -25.0M | -49.0M |
| Distributions paid to redeemable noncontrolling interests | ($39.7M) | ($42.8M) | ($35.6M) | ($34.3M) |
| Distributions paid to preferred stockholders | ($4.8M) | ($4.9M) | ($4.8M) | ($4.4M) |
| Distributions paid to common stockholders | ($567.9M) | ($558.5M) | ($539.9M) | ($483.6M) |
| Other | ($14.0M) | ($23.7M) | ($16.5M) | ($24.4M) |
| Net cash provided by/(used in) financing activities | ($750.4M) | ($599.9M) | ($538.9M) | $111.2M |
| Net increase/(decrease) in cash, cash equivalents, and restricted cash | $1.5M | $561.0K | $4.7M | $1.8M |
| Cash, cash equivalents, and restricted cash, beginning of year | $35.4M | $34.9M | $30.2M | $28.4M |
| Cash, cash equivalents, and restricted cash, end of period | $36.9M | — | — | — |
| Interest paid during the period, net of amounts capitalized | $190.5M | $192.1M | $184.2M | $154.9M |
| Operating cash flows from operating leases | $12.6M | $12.5M | $12.5M | $12.5M |
| Cash paid/(refunds received) for income taxes | $1.4M | $1.0M | $1.9M | $1.1M |
| Notes receivable settled in exchange for real estate owned | $180.7M | — | — | — |
| Conversion of note receivable to equity securities | $42.8M | — | — | — |
| Development costs and capital expenditures incurred, but not yet paid | $28.9M | $15.2M | $39.1M | $56.3M |
| Conversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock (382,991 shares; 1,703,570 shares; and 470,800 shares) | 15.8M | 73.2M | 18.8M | 23.7M |
| Right-of-use assets obtained in exchange for operating lease liabilities remeasurement | $4.4M | — | — | — |
| Contribution of operating properties to unconsolidated joint venture | $60.4M | — | $258.1M | — |
| Dividends declared, but not yet paid | $151.9M | $151.7M | $149.6M | $134.2M |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income/(loss) | $276.6M | $202.9M | $165.4M | $122.3M |
| Depreciation and amortization | $328.2M | $164.6M | $512.0M | $339.0M |
| (Gain)/loss on sale of real estate owned | ($193.1M) | ($157.4M) | ($47.9M) | ($47.9M) |
| (Income)/loss from unconsolidated entities | ($23.0M) | ($19.7M) | ($23.5M) | ($9.4M) |
| Return on investment in unconsolidated joint ventures and partnerships | $14.3M | $10.5M | $39.8M | $23.5M |
| Amortization of share-based compensation | $16.4M | $9.6M | $19.3M | $16.3M |
| Other | $20.9M | $12.7M | $26.2M | $17.5M |
| (Increase)/decrease in operating assets | ($11.6M) | ($18.6M) | ($17.6M) | ($9.2M) |
| Increase/(decrease) in operating liabilities | ($37.8M) | ($75.9M) | ($32.2M) | ($45.5M) |
| Net cash provided by/(used in) operating activities | $390.9M | $128.7M | $641.5M | $406.5M |
| Acquisition of real estate assets | ($53.4M) | — | — | — |
| Proceeds from sales of real estate investments, net | $353.4M | $218.6M | $203.6M | $203.6M |
| Development of real estate assets | ($53.0M) | ($28.5M) | ($23.2M) | ($15.3M) |
| Capital expenditures and other major improvements - real estate assets | ($104.2M) | ($43.5M) | ($183.6M) | ($113.2M) |
| Capital expenditures - non-real estate assets | ($6.6M) | ($1.4M) | ($29.6M) | ($28.6M) |
| Investment in unconsolidated joint ventures and partnerships | ($2.8M) | ($843.0K) | ($81.7M) | ($21.5M) |
| Distributions received from unconsolidated joint ventures and partnerships | $142.7M | $139.3M | $72.5M | $46.1M |
| Repayment/(issuance) of notes receivable, net | ($50.4M) | — | ($112.0M) | ($112.0M) |
| Net cash provided by/(used in) investing activities | $225.8M | $283.7M | ($154.1M) | ($40.9M) |
| Payments on secured debt | ($28.3M) | ($1.7M) | ($49.1M) | ($3.2M) |
| Net proceeds/(repayment) of commercial paper | $35.0M | ($275.0M) | $50.1M | ($69.9M) |
| Net proceeds/(repayment) of revolving bank debt | ($15.4M) | $118.2M | $6.3M | $20.9M |
| Repurchase of common shares | -300.3M | -100.0M | -25.0M | — |
| Distributions paid to redeemable noncontrolling interests | ($19.8M) | ($9.9M) | ($29.8M) | ($19.8M) |
| Distributions paid to preferred stockholders | ($2.4M) | ($1.2M) | ($3.6M) | ($2.4M) |
| Distributions paid to common stockholders | ($282.9M) | ($141.3M) | ($425.6M) | ($283.2M) |
| Other | ($3.3M) | ($3.6M) | ($9.9M) | ($8.3M) |
| Net cash provided by/(used in) financing activities | ($617.5M) | ($414.5M) | ($486.6M) | ($365.9M) |
| Net increase/(decrease) in cash, cash equivalents, and restricted cash | ($803.0K) | ($2.1M) | $819.0K | ($318.0K) |
| Cash, cash equivalents, and restricted cash, beginning of year | $36.9M | $36.9M | $35.4M | $35.4M |
| Cash, cash equivalents, and restricted cash, end of period | $36.1M | $34.8M | $36.2M | $35.1M |
| Interest paid during the period, net of amounts capitalized | $93.3M | $70.8M | $166.0M | $96.7M |
| Operating cash flows from operating leases | $6.4M | $3.2M | $9.4M | $6.3M |
| Cash paid/(refunds received) for income taxes | $1.3M | $61.0K | $1.4M | $1.3M |
| Net proceeds from sale of real estate investment held by qualified intermediary | $40.8M | $134.8M | — | — |
| Preferred equity investment settled in exchange for acquisition of real estate owned | $27.4M | — | — | — |
| Notes receivable settled in exchange for real estate owned | $34.8M | — | $180.7M | $180.7M |
| Development costs and capital expenditures incurred, but not yet paid | $33.3M | $25.7M | $35.6M | $23.4M |
| Conversion of Operating Partnership and DownREIT Partnership noncontrolling interests to common stock (956,845 shares and 155,453 shares, respectively) | 32.6M | 3.3M | 11.4M | 6.9M |
| Dividends declared, but not yet paid | $150.9M | $152.9M | $153.8M | $153.7M |
UDR Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.