UDR (UDR)


Market Price (10/22/2026): $35.02 | Market Cap: $11.3 BilInvestor Relations Sector: Real Estate | Industry: Multi-Family Residential REITs

UDR (UDR)


Market Price (10/22/2026): $35.02
Market Cap: $11.3 Bil
Sector: Real Estate
Industry: Multi-Family Residential REITs

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.6%, Dividend Yield is 5.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%, FCF Yield is 5.6%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 52%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%

Low stock price volatility
Vol 12M is 20%

Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more.

Weak multi-year price returns
2Y Excs Rtn is -46%, 3Y Excs Rtn is -65%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 53%

Weak revenue growth
Rev Chg QQuarterly Revenue Change % is 0.0%

Key risks
UDR key risks include [1] a high level of new multifamily housing deliveries anticipated in 2024 that could pressure the company's occupancy and rental income.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.6%, Dividend Yield is 5.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.7%, FCF Yield is 5.6%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 52%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 37%
2 Low stock price volatility
Vol 12M is 20%
3 Megatrend and thematic drivers
Megatrends include Smart Buildings & Proptech, and Sustainable & Green Buildings. Themes include IoT for Buildings, Building Management Systems, Show more.
4 Weak multi-year price returns
2Y Excs Rtn is -46%, 3Y Excs Rtn is -65%
5 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 53%
6 Weak revenue growth
Rev Chg QQuarterly Revenue Change % is 0.0%
7 Key risks
UDR key risks include [1] a high level of new multifamily housing deliveries anticipated in 2024 that could pressure the company's occupancy and rental income.

UDR in ETFs

Weight = UDR's share of each fund

SPY0.02%
VOO0.01%
IVV0.01%
VTI0.01%
ITOT0.01%
IWB0.02%
RSP0.19%
VB0.14%
+22 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

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Updated on 10/1/2026

UDR (UDR) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Broader REIT Sector Weakness Driven by Rising Interest Rates.

The primary headwind for UDR's stock movement since Q2 2026 has been the broader real estate investment trust (REIT) sector's underperformance, heavily influenced by a "higher-for-longer" interest rate environment. In the third fiscal quarter of 2026, equity REITs experienced a total return decline of 6.06%. This downturn was largely due to rising yields on Treasury bonds, with the 10-year Treasury yield surging above 5% for the first time since 2007, which typically pressures rate-sensitive real estate stocks like UDR by increasing financing and construction costs. This macroeconomic factor created a challenging backdrop for UDR, regardless of company-specific performance.

2. Concerns Over Increasing Capitalization Rates and Real Estate Valuations.

A direct consequence of rising interest rates is the concern among investors that capitalization rates (cap rates) in the real estate sector will increase. Higher cap rates generally lead to lower property valuations, which can negatively impact the net asset value (NAV) of REITs. Analysts have noted that it is difficult to imagine the 10-year Treasury yield rising significantly without a corresponding increase in cap rates, suggesting a correction in real estate values may be underway to account for the new yield environment. This sentiment has contributed to a cautious outlook for real estate stocks.

Show more
Updated on 10/1/2026

UDR (UDR) stock has lost about 10% since 6/30/2026 because of the following key factors:

1. Broader REIT Sector Weakness Driven by Rising Interest Rates.

The primary headwind for UDR's stock movement since Q2 2026 has been the broader real estate investment trust (REIT) sector's underperformance, heavily influenced by a "higher-for-longer" interest rate environment. In the third fiscal quarter of 2026, equity REITs experienced a total return decline of 6.06%. This downturn was largely due to rising yields on Treasury bonds, with the 10-year Treasury yield surging above 5% for the first time since 2007, which typically pressures rate-sensitive real estate stocks like UDR by increasing financing and construction costs. This macroeconomic factor created a challenging backdrop for UDR, regardless of company-specific performance.

2. Concerns Over Increasing Capitalization Rates and Real Estate Valuations.

A direct consequence of rising interest rates is the concern among investors that capitalization rates (cap rates) in the real estate sector will increase. Higher cap rates generally lead to lower property valuations, which can negatively impact the net asset value (NAV) of REITs. Analysts have noted that it is difficult to imagine the 10-year Treasury yield rising significantly without a corresponding increase in cap rates, suggesting a correction in real estate values may be underway to account for the new yield environment. This sentiment has contributed to a cautious outlook for real estate stocks.

3. Company-Specific Regional Weakness in Sunbelt Markets.

Despite overall strong operational performance and a raised full-year 2026 Funds From Operations as Adjusted (FFOA) guidance, UDR has experienced specific pricing weakness in its Sunbelt markets. These regions have shown negative blended lease rate growth, contrasting with the strong performance and revenue growth seen in UDR's coastal markets, particularly the West and Northeast regions which reported 3.7% and 3.0% year-over-year revenue growth, respectively. This regional divergence in performance has acted as a company-specific drag on UDR's overall revenue growth and investor sentiment, contributing to the stock's decline.

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Stock Movement Drivers

Fundamental Drivers

The -10.8% change in UDR stock from 6/30/2026 to 10/21/2026 was primarily driven by a -17.3% change in the company's P/E Multiple.
(LTM values as of)630202610212026Change
Stock Price ($)39.3035.04-10.8%
Change Contribution By: 
Total Revenues ($ Mil)1,7161,7160.0%
Net Income Margin (%)28.6%30.4%6.4%
P/E Multiple26.221.7-17.3%
Shares Outstanding (Mil)3273231.3%
Cumulative Contribution-10.8%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2026 to 10/21/2026
ReturnCorrelation
UDR-10.8% 
Market (SPY)3.5%-4.6%
Sector (XLRE)-4.5%63.6%

Fundamental Drivers

The 6.7% change in UDR stock from 3/31/2026 to 10/21/2026 was primarily driven by a 37.9% change in the company's Net Income Margin (%).
(LTM values as of)331202610212026Change
Stock Price ($)32.8435.046.7%
Change Contribution By: 
Total Revenues ($ Mil)1,7121,7160.2%
Net Income Margin (%)22.1%30.4%37.9%
P/E Multiple28.621.7-24.3%
Shares Outstanding (Mil)3293231.9%
Cumulative Contribution6.7%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 10/21/2026
ReturnCorrelation
UDR6.7% 
Market (SPY)19.2%-1.5%
Sector (XLRE)3.9%66.5%

Fundamental Drivers

The -0.9% change in UDR stock from 9/30/2025 to 10/21/2026 was primarily driven by a -75.6% change in the company's P/E Multiple.
(LTM values as of)930202510212026Change
Stock Price ($)35.3835.04-0.9%
Change Contribution By: 
Total Revenues ($ Mil)1,6901,7161.5%
Net Income Margin (%)7.8%30.4%289.8%
P/E Multiple88.721.7-75.6%
Shares Outstanding (Mil)3313232.4%
Cumulative Contribution-0.9%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2025 to 10/21/2026
ReturnCorrelation
UDR-0.9% 
Market (SPY)17.0%10.3%
Sector (XLRE)2.5%65.7%

Fundamental Drivers

The 12.7% change in UDR stock from 9/30/2023 to 10/21/2026 was primarily driven by a 8.7% change in the company's Net Income Margin (%).
(LTM values as of)930202310212026Change
Stock Price ($)31.0835.0412.7%
Change Contribution By: 
Total Revenues ($ Mil)1,5951,7167.6%
Net Income Margin (%)28.0%30.4%8.7%
P/E Multiple22.921.7-5.3%
Shares Outstanding (Mil)3293231.9%
Cumulative Contribution12.7%

LTM = Last Twelve Months as of date shown

Market Drivers

9/30/2023 to 10/21/2026
ReturnCorrelation
UDR12.7% 
Market (SPY)87.1%38.8%
Sector (XLRE)35.7%76.3%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
UDR Return61%-33%3%18%-12%-2%13%
Peers Return59%-34%3%24%2%6%45%
S&P 500 Return27%-19%24%23%16%12%104%

Monthly Win Rates [3]
UDR Win Rate83%25%50%58%33%60% 
Peers Win Rate78%28%47%58%45%50% 
S&P 500 Win Rate75%42%67%75%67%50% 

Max Drawdowns [4]
UDR Max Drawdown-6%-36%-28%-12%-25%-18% 
Peers Max Drawdown-9%-39%-31%-12%-23%-16% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: ESS, MAA, OUT, VMRK, UDR. See UDR Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/21/2026 (YTD)

How Low Can It Go

EventUDRS&P 500
2025 US Tariff Shock
  % Loss-10.7%-18.8%
  % Gain to Breakeven11.9%23.1%
  Time to Breakeven23 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.8%-9.5%
  % Gain to Breakeven32.9%10.5%
  Time to Breakeven236 days24 days
2023 SVB Regional Banking Crisis
  % Loss-14.9%-6.7%
  % Gain to Breakeven17.5%7.1%
  Time to Breakeven487 days31 days
2020 COVID-19 Crash
  % Loss-40.1%-33.7%
  % Gain to Breakeven67.0%50.9%
  Time to Breakeven431 days140 days
2015-2016 China Devaluation / Global Growth Scare
  % Loss-12.1%-12.2%
  % Gain to Breakeven13.8%13.9%
  Time to Breakeven44 days62 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-23.5%-17.9%
  % Gain to Breakeven30.7%21.8%
  Time to Breakeven179 days123 days

Compare to ESS, MAA, OUT, VMRK, UDR

In The Past

UDR's stock fell -10.7% during the 2025 US Tariff Shock. Such a loss loss requires a 11.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventUDRS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-24.8%-9.5%
  % Gain to Breakeven32.9%10.5%
  Time to Breakeven236 days24 days
2020 COVID-19 Crash
  % Loss-40.1%-33.7%
  % Gain to Breakeven67.0%50.9%
  Time to Breakeven431 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-23.5%-17.9%
  % Gain to Breakeven30.7%21.8%
  Time to Breakeven179 days123 days
2008-2009 Global Financial Crisis
  % Loss-60.8%-53.4%
  % Gain to Breakeven154.8%114.4%
  Time to Breakeven283 days1085 days

Compare to ESS, MAA, OUT, VMRK, UDR

In The Past

UDR's stock fell -10.7% during the 2025 US Tariff Shock. Such a loss loss requires a 11.9% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About UDR (UDR)

UDR, Inc. (NYSE: UDR) is a prominent real estate investment trust (REIT) specializing in the multifamily sector. As an S&P 500 company, UDR focuses on acquiring, owning, operating, and developing high-quality apartment communities across various targeted markets within the United States. With a portfolio exceeding 51,000 apartment homes, UDR is a significant player in the residential real estate market, demonstrating a long history of delivering shareholder value.

The company's core business involves providing attractive apartment homes for rent, serving a broad base of residents across its properties. UDR's operations encompass the entire lifecycle of real estate investment, from identifying and developing new communities to managing existing ones and strategic redevelopments. Through this comprehensive approach, UDR aims to generate dependable returns by successfully managing, buying, selling, developing, and redeveloping residential communities in desirable U.S. markets.

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  • Public Storage for apartments
  • Marriott for apartment buildings

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  • Multifamily Apartment Rentals: Providing apartment homes for lease to residents.
  • Multifamily Real Estate Development & Redevelopment: Developing and redeveloping apartment communities.
  • Multifamily Property Management: Managing the daily operations and services for its apartment communities.
  • Multifamily Real Estate Transactions: Acquiring and selling apartment communities to optimize its portfolio.

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UDR, Inc. primarily serves individual customers, referred to as "Residents" in their company description, by providing apartment homes for rent. As a multifamily real estate investment trust (REIT), its major customers fall into the following categories:

  1. Urban Professionals and Young Adults: This category includes individuals and couples who are drawn to dynamic city centers or close-in suburban locations, valuing convenience, access to employment centers, public transportation, and a vibrant social and entertainment scene. They often seek modern amenities and a maintenance-free lifestyle.
  2. Families and Established Households: These customers typically look for stable and spacious apartment living within attractive communities. They may prioritize factors such as good local schools (where applicable to the community), neighborhood amenities, and a comfortable environment for raising a family or establishing a long-term household.
  3. Empty Nesters and Lifestyle Renters: This group includes individuals or couples who choose the convenience and amenities of apartment living over homeownership. They may be downsizing from single-family homes, seeking a maintenance-free lifestyle, or looking for well-located properties with desirable amenities and services.
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Thomas W. Toomey, Chairman, President, and Chief Executive Officer

Thomas W. Toomey has served as Chief Executive Officer and a member of the board of UDR, Inc. since joining the Company in 2001. Over his tenure, he has been instrumental in repositioning UDR's portfolio through approximately $23 billion in acquisitions and dispositions of multifamily communities and over $5 billion in development. Prior to UDR, Mr. Toomey held various senior positions, including Chief Operating Officer and Chief Financial Officer, with AIMCO, a multifamily REIT peer. At AIMCO, he played a key role in transforming the company into the largest apartment owner in the U.S., growing its portfolio tenfold. Before AIMCO, Mr. Toomey was a Senior Vice President with Lincoln Property Company for five years.

Dave Bragg, Chief Financial Officer

Dave Bragg was appointed Chief Financial Officer of UDR, Inc. effective July 24, 2025. He joined UDR from Roots Management Group, where he most recently served as CFO and previously as Chief Strategy Officer and Head of Investment Management since 2022. Prior to Roots, Mr. Bragg spent nine years as Managing Director at Green Street, where he led strategic and residential real estate research efforts. His experience also includes senior positions at Zelman & Associates, ISI Group, and Merrill Lynch.

Michael D. Lacy, Senior Vice President – Chief Operating Officer

Michael D. Lacy joined UDR in November 2006 and was promoted to Chief Operating Officer effective January 1, 2025. He has served in a variety of operational roles within the Company, including Operational Strategist, Senior Acquisitions Analyst, Director of Pricing and Revenue Management, and Vice President – Property Operations. Mr. Lacy oversees UDR's property operations, information technology, and human resources teams. He began his career as an accountant at RedPeak Properties.

Matthew A. Cozad, Senior Vice President – Corporate Services and Innovation

Matthew A. Cozad joined UDR in 2008 and has served in various operational roles, including Head of Internal Audit. He has led many of the Company's revenue and expense-related operating initiatives, as well as Environmental, Social and Governance (“ESG”) execution and compliance. Before joining UDR, Mr. Cozad was a Manager in the Risk Advisory Services group at Keiter Stephens, where he was the lead-Manager for Sarbanes-Oxley services provided to UDR from 2004 to 2007.

Tracy L. Hofmeister, Senior Vice President – Chief Accounting Officer

Tracy L. Hofmeister is the Senior Vice President – Chief Accounting Officer of UDR, Inc. He has served in a variety of accounting roles since joining the Company in 2013, including Vice President – Technical Accounting and SEC Reporting, Vice President – Controller, and Vice President – Accounting.

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The key risks to UDR's business operations primarily stem from its reliance on market conditions within the multifamily real estate sector. These risks are:

  1. Economic Downturns and Market Volatility: UDR's profitability is highly sensitive to overall economic conditions and market volatility. Recessions or economic uncertainty can lead to reduced occupancy rates, increased rental concessions, and a diminished ability to raise rents, which collectively can significantly impact the company's financial performance and growth prospects. The company's reliance on rental income makes it particularly vulnerable to these market fluctuations.
  2. Interest Rate Fluctuations: As a real estate investment trust, UDR is susceptible to changes in interest rates. Rising interest rates can substantially increase debt servicing costs, especially given that a portion of the company's debt may be subject to variable rates. This can lead to higher expenses and a reduction in cash flow and overall profitability.
  3. Competition and Supply Increases: The multifamily housing market is highly competitive. UDR faces ongoing challenges from competitive pressures and potential increases in housing supply in its targeted regions. Increased supply can lead to limitations on rent growth and may necessitate continuous investment in property improvements and marketing efforts to attract and retain tenants, thereby impacting revenue and expenses.

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The addressable market for UDR, Inc.'s main products and services, which include managing, buying, selling, developing, and redeveloping apartment homes, is the multifamily real estate and apartment rental market in the U.S.

The U.S. multifamily market was valued at approximately $265 billion in 2022 and is projected to reach $466 billion by 2030, demonstrating a compound annual growth rate (CAGR) of 7.31% from 2023 to 2030. More specifically, the apartment rental market in the U.S. was valued at $300.6 billion in 2025 and is estimated to grow to $305.7 billion in 2026. This market has experienced growth at a 1.7% CAGR between 2020 and 2025, and a 3.3% CAGR between 2021 and 2026.

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UDR, Inc. (NYSE: UDR) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. Blended Lease Rate Growth: UDR anticipates that increases in rental rates will be a significant contributor to revenue. For 2026, the company forecasts average blended lease rate growth of 1.5% to 2%. This acceleration is attributed to a projected 35% year-over-year reduction in new apartment supply completions, which is expected to lessen supply pressures and allow for market concessions to burn off towards the end of the year.
  2. Other Income Innovation and Value-Added Services: Growth in "other income innovation" is expected to contribute approximately 45 basis points to same-store revenue growth in 2026, representing about $10 million or nearly 5% year-over-year growth in this category. This growth is primarily driven by the continued rollout of property-wide Wi-Fi and the introduction of various value-added services for residents.
  3. Sustained High Occupancy and Improved Resident Retention: Maintaining high occupancy rates, specifically in the high 96% range, is a critical driver for consistent revenue generation. UDR has reported a 1,000-basis-point improvement in resident retention compared to historical levels, largely due to enhancements in its customer experience strategy, which has resulted in approximately $35 million of higher annualized cash flow.
  4. Strategic Acquisitions and Development Projects: UDR continues to pursue strategic portfolio enhancements. While the company expects to be a net seller of assets in 2026, it has recently expanded its joint venture with LaSalle Investment Management by $231.6 million and acquired The Enclave at Potomac Club for approximately $147.7 million in Q4 2025. Earlier in 2025, UDR acquired a partner's stake in a Philadelphia community and commenced a new 300-home apartment development in Riverside, California, indicating ongoing efforts to grow its portfolio.
  5. Data-Driven Decisions and Operational Efficiency: UDR places a strong emphasis on leveraging data and technology, including AI, to enhance operational efficiency and optimize revenue. The company uses data-driven approaches for capital allocation, innovation, and to refine its operations platform. AI-driven initiatives have been cited as successes contributing to reduced resident turnover and informing dynamic pricing strategies for renewals based on customer feedback.

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Share Repurchases

  • UDR repurchased approximately $120 million of its common stock in 2025.
  • During the fourth quarter of 2025, UDR repurchased around 2.6 million shares of common stock for a total cost of $92.8 million.
  • In the third quarter of 2025, the company repurchased approximately 928,000 shares for $35 million, with an additional $10 million in repurchases made subsequent to quarter-end.

Share Issuance

  • In the three months ending December 31, 2025, UDR issued 14,651 shares of common stock upon the redemption of Operating Partnership Units.
  • UDR's strategy includes raising capital through equity issuance, a practice expected to continue.
  • The company utilizes forward sales agreements for the future issuance of its common stock.

Outbound Investments

  • In Q2 2025, UDR acquired its partner's stake to consolidate a 478-unit Philadelphia community.
  • UDR acquired The Enclave at Potomac Club, a 406-apartment home community in suburban Metropolitan Washington, D.C., for approximately $147.7 million in Q4 2025, with funding expected from dispositions.
  • The company expanded an existing joint venture with LaSalle Investment Management by contributing four communities valued at $231 million (totaling 974 apartment homes across Portland, Orlando, and Richmond) in Q4 2025, receiving approximately $202.8 million in cash proceeds.

Capital Expenditures

  • In 2025, UDR incurred $56.1 million in major renovations focused on structural changes and architectural revisions to existing buildings.
  • UDR commenced the development of a new 300-home apartment community in Riverside, California, in Q1 2025, with an anticipated completion by Q2 2027.
  • Capital allocation decisions, including capital expenditures, are driven by a data-driven and collaborative approach aimed at maximizing long-term cash flow per share growth.

Better Bets vs. UDR (UDR)

Peer Outperformance in Multi-Family Residential REITs

UDR has outperformed 58% of its 12 Multi-Family Residential REITs peers over 5Y. Among the peers that beat it is ESS. Multi-Family Residential REITs ranks 9th of 12 industries in Real Estate by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Multi-Family Residential REITs constituents that UDR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
69%
of 13 industry peers · -0.3% return
3Y
54%
of 13 industry peers · 14.5% return
5Y
58%
of 12 industry peers · -22.0% return
Multi-Family Residential REITs peers with revenue growth within 4pp of UDR's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
UDR UDR 2.5% 21.7x -0.3%14.5%-22.0% —
ESS Essex Property Trust 5.2% 42.6x 8.8%44.8%-1.1% +21pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Real Estate sector, ranked by 5Y. Multi-Family Residential REITs is UDR's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care REITs 15 10.9%57.5%51.2% WELL 217% · OHI 113% · CTRE 112%
Retail REITs 22 6.3%37.7%25.1% SKT 147% · SPG 86% · MAC 59%
Other Specialized REITs 10 2.1%23.4%17.4% IRM 203% · LAMR 68% · OUT 62%
Hotel & Resort REITs 16 52.5%53.5%10.7% HST 92% · RHP 84% · DRH 70%
Real Estate Development 6 -15.3%15.5%7.0% JOE 53%
Industrial REITs 11 4.5%37.2%-6.7% EGP 25% · FR 18% · TRNO 6%
Diversified REITs 13 1.9%26.1%-20.0% WPC 9% · LXP 7% · EPRT 5%
Single-Family Residential REITs 4 -2.7%1.0%-20.4% AMH -10% · ELS -20% · INVH -21%
Multi-Family Residential REITs ← 13 -5.9%9.5%-24.3% ESS -1% · VMRK -11% · IRT -20%
Office REITs 18 -11.7%27.1%-35.2% CDP 46% · HIW -10% · SLG -10%
Real Estate Services 26 -28.9%-22.0%-35.6% CBRE 32% · JLL 20% · NMRK -19%
Telecom Tower REITs 3 -10.0%7.3%-43.4% AMT -25% · CCI -43% · SBAC -45%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

UDRESSMAAOUTVMRKMedian
NameUDR Essex Pr.Mid-Amer.Outfront.Vivmark . 
Mkt Price35.02272.75117.6631.0061.9861.98
Mkt Cap11.317.513.75.524.313.7
Rev LTM1,7161,9272,2191,9333,0831,933
Op Inc LTM325561597394910561
FCF LTM6299916452911,369645
FCF 3Y Avg5889217422231,388742
CFO LTM8871,1181,0113911,6601,011
CFO 3Y Avg8641,0591,0813191,6271,059

Growth & Margins

UDRESSMAAOUTVMRKMedian
NameUDR Essex Pr.Mid-Amer.Outfront.Vivmark . 
Rev Chg LTM1.5%4.7%0.8%7.6%3.4%3.4%
Rev Chg 3Y Avg2.5%5.2%1.6%2.2%4.5%2.5%
Rev Chg Q0.0%4.1%1.0%13.5%2.3%2.3%
QoQ Delta Rev Chg LTM0.0%1.0%0.2%3.3%0.6%0.6%
Op Inc Chg LTM7.6%0.6%-6.2%47.0%-1.1%0.6%
Op Inc Chg 3Y Avg5.4%7.0%-4.6%17.1%2.2%5.4%
Op Mgn LTM19.0%29.1%26.9%20.4%29.5%26.9%
Op Mgn 3Y Avg18.0%28.9%28.9%16.9%30.8%28.9%
QoQ Delta Op Mgn LTM0.1%-2.7%-0.5%1.4%-0.1%-0.1%
CFO/Rev LTM51.7%58.0%45.6%20.2%53.9%51.7%
CFO/Rev 3Y Avg51.3%58.0%49.2%17.1%54.8%51.3%
FCF/Rev LTM36.7%51.4%29.1%15.1%44.4%36.7%
FCF/Rev 3Y Avg34.8%50.5%33.8%12.0%46.8%34.8%

Valuation

UDRESSMAAOUTVMRKMedian
NameUDR Essex Pr.Mid-Amer.Outfront.Vivmark . 
Mkt Cap11.317.513.75.524.313.7
P/S6.69.16.22.87.96.6
P/Op Inc34.831.222.913.926.726.7
P/EBIT15.025.022.114.718.618.6
P/E21.742.433.922.323.723.7
P/CFO12.715.713.514.014.714.0
Total Yield9.6%6.1%8.2%8.4%8.3%8.3%
Dividend Yield5.0%3.8%5.2%3.9%4.1%4.1%
FCF Yield 3Y Avg4.4%5.2%4.4%6.7%5.1%5.1%
D/E0.50.40.40.80.40.4
Net D/E0.50.40.40.80.40.4

Returns

UDRESSMAAOUTVMRKMedian
NameUDR Essex Pr.Mid-Amer.Outfront.Vivmark . 
1M Rtn3.8%1.5%0.3%9.9%2.2%2.2%
3M Rtn-10.3%-6.0%-9.4%-1.8%-8.2%-8.2%
6M Rtn3.1%10.1%-3.2%5.3%2.7%3.1%
12M Rtn-0.4%8.2%-7.4%76.1%3.2%3.2%
3Y Rtn14.5%44.1%4.4%315.5%22.2%22.2%
1M Excs Rtn4.5%1.6%1.4%11.3%1.9%1.9%
3M Excs Rtn-13.6%-9.5%-13.6%-5.1%-11.5%-11.5%
6M Excs Rtn-4.2%2.9%-10.5%-2.0%-4.6%-4.2%
12M Excs Rtn-13.2%-4.9%-20.8%64.0%-9.7%-9.7%
3Y Excs Rtn-65.5%-35.8%-73.9%233.6%-58.2%-58.2%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Same-Store Communities1,6111,5741,5131,3981,210
Non-Mature Communities/Other909010811475
Joint venture management and other fees118756
Total1,7121,6721,6281,5171,291


Operating Income by Segment
$ Mil20252024202320222021
Same-Store Communities1,1041,0801,046967822
Gain/(loss) on sale of real estate owned2431735125136
Non-Mature Communities/Other5859697345
Joint venture management and other fees118756
Casualty-related (charges)/recoveries, net-12-15-3-10-4
Other depreciation and amortization-26-19-15-14-13
Other operating expenses-31-30-20-17-22
Property management-55-54-53-49-39
General and administrative-85-84-70-64-58
Real estate depreciation and amortization-654-676-676-665-607
Total554285635251268


Assets by Segment
$ Mil20252024202320222021
Same-Store Communities15,31315,07814,13612,74411,770
Non-Mature Communities/Other1,1751,1351,8882,8262,971
Investment in and advances to unconsolidated joint ventures, net886917953754702
Other assets231197210197216
Operating lease right-of-use assets188187191194197
Notes receivable, net1502482295527
Restricted cash3634322927
Cash and cash equivalents11311
Accumulated depreciation-7,375-6,901-6,268-5,763-5,137
Total10,60610,89811,37311,03810,775


Price Behavior

Price Behavior
Market Price$35.04 
Market Cap ($ Bil)11.3 
First Trading Date03/07/1990 
Distance from 52W High-13.7% 
   50 Days200 Days
DMA Price$35.12$36.21
DMA Trenddownindeterminate
Distance from DMA-0.2%-3.2%
 3M1YR
Volatility17.2%20.3%
Downside Capture79.1316.38
Upside Capture-10.8411.25
Correlation (S&P 500)-4.7%9.7%
UDR Betas & Captures as of 9/30/2026

 1M2M3M6M1Y3Y
Beta0.240.31-0.19-0.060.150.55
Up Beta-0.200.08-0.35-0.000.240.59
Down Beta0.48-0.14-0.54-0.080.390.63
Up Capture-20%1%-38%-3%0%16%
Bmk +ve Days6162766132424
Stock +ve Days5132155120372
Down Capture132%123%53%-13%9%77%
Bmk -ve Days16263760120328
Stock -ve Days17284269130374

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with UDR
UDR0.6%20.3%-0.09-
Sector ETF (XLRE)1.7%14.3%-0.1266.3%
Equity (SPY)16.2%12.7%0.909.7%
Gold (GLD)-6.0%29.0%-0.222.4%
Commodities (DBC)50.2%20.7%1.85-13.4%
Real Estate (VNQ)3.1%13.8%-0.0366.3%
Bitcoin (BTCUSD)-25.3%43.4%-0.551.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with UDR
UDR-4.7%23.1%-0.26-
Sector ETF (XLRE)1.7%19.1%-0.0281.5%
Equity (SPY)13.6%17.1%0.6150.3%
Gold (GLD)17.7%18.9%0.769.0%
Commodities (DBC)9.5%19.5%0.376.5%
Real Estate (VNQ)1.1%18.9%-0.0581.8%
Bitcoin (BTCUSD)7.6%51.7%0.3317.7%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with UDR
UDR4.2%25.4%0.18-
Sector ETF (XLRE)6.7%20.4%0.2882.7%
Equity (SPY)15.5%17.9%0.7354.6%
Gold (GLD)12.2%16.4%0.616.1%
Commodities (DBC)8.2%18.1%0.3713.8%
Real Estate (VNQ)5.2%20.7%0.2183.6%
Bitcoin (BTCUSD)62.6%66.2%1.0212.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date9302026
Short Interest: Shares Quantity10.7 Mil
Short Interest: % Change Since 91520267.5%
Average Daily Volume4.3 Mil
Days-to-Cover Short Interest2.5 days
Basic Shares Quantity323.0 Mil
Short % of Basic Shares3.3%

Earnings Returns History

Updated 10/21/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/27/2026-0.7%-1.5%-2.4%
4/29/20260.5%2.4%2.0%
2/9/20264.3%0.7%-4.5%
10/29/20250.2%2.4%7.5%
7/30/2025-1.3%-3.7%-2.0%
4/30/20251.7%2.0%-1.1%
2/5/20251.8%0.8%5.4%
10/30/2024-3.1%-0.6%5.3%
...
SUMMARY STATS   
# Positive131213
# Negative111211
Median Positive1.4%2.2%5.3%
Median Negative-1.5%-2.2%-2.4%
Max Positive4.4%13.1%28.6%
Max Negative-6.0%-8.8%-16.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/27/2026-0.7%-1.5%-2.4%
4/29/20260.5%2.4%2.0%
2/9/20264.3%0.7%-4.5%
10/29/20250.2%2.4%7.5%
7/30/2025-1.3%-3.7%-2.0%
4/30/20251.7%2.0%-1.1%
2/5/20251.8%0.8%5.4%
10/30/2024-3.1%-0.6%5.3%
7/30/2024-1.9%0.9%8.2%
4/30/2024-1.5%2.3%-0.6%
2/6/2024-0.7%-2.6%6.0%
10/26/2023-6.0%-4.0%-0.9%
7/26/2023-4.5%-4.8%-8.9%
4/26/20231.3%-0.9%-3.9%
2/6/20232.8%4.1%-1.4%
10/26/2022-0.7%-1.7%3.0%
7/26/20220.8%0.4%2.3%
4/26/2022-1.5%-8.8%-16.1%
2/8/20222.4%-1.7%2.9%
10/26/20210.6%0.1%4.6%
7/28/20210.9%-0.4%-4.7%
4/27/2021-2.1%-2.6%0.6%
2/9/20211.4%2.7%5.9%
10/29/20204.4%13.1%28.6%
SUMMARY STATS   
# Positive131213
# Negative111211
Median Positive1.4%2.2%5.3%
Median Negative-1.5%-2.2%-2.4%
Max Positive4.4%13.1%28.6%
Max Negative-6.0%-8.8%-16.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202607/28/202610-Q
03/31/202604/30/202610-Q
12/31/202502/17/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/18/202510-K
09/30/202410/31/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/20/202410-K
09/30/202310/27/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202202/13/202310-K
09/30/202210/27/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202607/28/202610-Q
03/31/202604/30/202610-Q
12/31/202502/17/202610-K
09/30/202510/30/202510-Q
06/30/202507/31/202510-Q
03/31/202505/01/202510-Q
12/31/202402/18/202510-K
09/30/202410/31/202410-Q
06/30/202407/31/202410-Q
03/31/202405/01/202410-Q
12/31/202302/20/202410-K
09/30/202310/27/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202202/13/202310-K
09/30/202210/27/202210-Q
06/30/202207/27/202210-Q
03/31/202204/27/202210-Q
12/31/202102/15/202210-K
09/30/202110/27/202110-Q
06/30/202107/29/202110-Q
03/31/202104/28/202110-Q
12/31/202002/18/202110-K
09/30/202010/30/202010-Q
06/30/202007/29/202010-Q
03/31/202005/07/202010-Q
12/31/201902/18/202010-K
09/30/201910/30/201910-Q

Recent Forward Guidance

Updated 10/21/2026

Latest: Q3 2026 Earnings Reported 10/21/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 FFO per diluted shareReported0.630.640.65   
Q4 2026 FFOA per diluted shareReported0.630.640.65   
Q4 2026 DividendsReported 0.44    
Q4 2026 Net Income per diluted shareReported0.130.140.15   
2026 FFO per diluted shareReported2.482.492.5   
2026 FFOA per diluted shareReported2.542.552.56   
2026 Same-Store Revenue GrowthReported1.4%1.6%1.8% -1.4%LoweredGuidance: 3.0% for 2026
2026 Same-Store Expense GrowthReported2.7%2.9%3.1% -0.6%LoweredGuidance: 3.5% for 2026
2026 Same-Store NOI GrowthReported0.8%1.0%1.2% -1.8%LoweredGuidance: 2.75% for 2026
2026 Net Income per diluted shareReported1.581.591.6-39.8% LoweredGuidance: 2.64 for 2026


Prior: Q2 2026 Earnings Reported 7/27/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Same-Store Revenue GrowthReported2.5%3.0%3.5% 1.8%RaisedGuidance: 1.25% for 2026
2026 Same-Store Expense GrowthReported3.0%3.5%4.0% -0.2%LoweredGuidance: 3.75% for 2026
2026 Same-Store NOI GrowthReported2.0%2.75%3.5% 2.6%RaisedGuidance: 0.13% for 2026
2026 FFO per shareReported2.62.642.684.3% RaisedGuidance: 2.53 for 2026
2026 AFFO per shareReported2.352.392.43   

Q1 2026 Earnings Reported 4/29/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q2 2026 FFO per diluted shareReported0.620.630.641.6% Higher NewActual: 0.62 for Q1 2026
Q2 2026 FFOA per diluted shareReported0.620.630.641.6% Higher NewActual: 0.62 for Q1 2026
Q2 2026 Net Income per diluted shareReported0.120.130.148.3% Higher NewActual: 0.12 for Q1 2026
2026 FFO per diluted shareReported2.482.532.580.4% RaisedGuidance: 2.52 for 2026
2026 FFOA per diluted shareReported2.472.522.570.0% AffirmedGuidance: 2.52 for 2026
2026 SS Expense GrowthReported3.0%3.75%4.5% 0.0%AffirmedGuidance: 3.75% for 2026
2026 SS NOI GrowthReported-1.0%0.13%1.25% 0.0%AffirmedGuidance: 0.13% for 2026
2026 SS Revenue GrowthReported0.25%1.25%2.25% 0.0%AffirmedGuidance: 1.25% for 2026
2026 Net Income per diluted shareReported0.910.961.0192.0% RaisedGuidance: 0.5 for 2026

Q4 2025 Earnings Reported 2/9/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q1 2026 FFO per diluted shareReported0.610.620.63   
Q1 2026 FFOA per diluted shareReported0.610.620.63   
Q1 2026 Net Income per diluted shareReported0.110.120.13   
2026 FFO per diluted shareReported2.472.522.57-2.3% Lower NewActual: 2.58 for 2025
2026 FFOA per diluted shareReported2.472.522.57-2.3% Lower NewActual: 2.58 for 2025
2026 SS Expense GrowthReported3.0%3.75%4.5% 0.2%Higher NewActual: 3.5% for 2025
2026 SS NOI GrowthReported-1.0%0.13%1.25% -2.6%Lower NewActual: 2.75% for 2025
2026 DividendsReported 1.74    
2026 SS Revenue GrowthReported0.25%1.25%2.25%-58.3%-1.8%Lower NewActual: 3.0% for 2025
2026 Net Income per diluted shareReported0.450.50.55-44.4% Lower NewActual: 0.9 for 2025

Insider Activity

Updated 7/24/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Toomey, Thomas WChairman, President and CEODirectSell605202639.2580,0003,140,00831,810,440Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Toomey, Thomas WChairman, President and CEODirectSell605202639.2580,0003,140,00831,810,440Form

Investor Activity (13F)

Updated Oct 22, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Sophron Capital Management L.P.$13.0 Mil3.8%41ADD +9.3%13F
GRS Advisors, LLC$27.6 Mil2.7%32TRIM -9.0%13F
Hazelview Securities Inc.$11.0 Mil2.0%45New13F
Lasalle Investment Management Securities LLC$46.3 Mil1.8%48Hold13F
Vert Asset Management LLC$5.2 Mil1.7%48Hold13F
Investure, LLC$23.0 Mil1.1%17ADD +38.2%13F
Carronade Capital Management, LP$7.0 Mil0.5%25TRIM -21.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Hazelview Securities Inc.$11.0 Mil2.0%45New13F
Investure, LLC$23.0 Mil1.1%17ADD +38.2%13F
Sophron Capital Management L.P.$13.0 Mil3.8%41ADD +9.3%13F
Active ManagerValue% of PortfolioTotal PositionsQoQAs OfFiling
Rush Island Management, LP$130.8 Mil8.2%17ExitedDec 31, 202513F
B&I Capital AG$6.3 Mil2.2%25ExitedDec 31, 202513F
Conversant Capital LLC$5.4 Mil1.0%13ExitedDec 31, 202513F
Carronade Capital Management, LP$7.0 Mil0.5%25TRIM -21.3%Mar 31, 202613F
GRS Advisors, LLC$27.6 Mil2.7%32TRIM -9.0%Mar 31, 202613F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Lasalle Investment Management Securities LLC$46.3 Mil1.8%48Hold13F
GRS Advisors, LLC$27.6 Mil2.7%32TRIM -9.0%13F
Investure, LLC$23.0 Mil1.1%17ADD +38.2%13F
Sophron Capital Management L.P.$13.0 Mil3.8%41ADD +9.3%13F
Hazelview Securities Inc.$11.0 Mil2.0%45New13F
Carronade Capital Management, LP$7.0 Mil0.5%25TRIM -21.3%13F
Vert Asset Management LLC$5.2 Mil1.7%48Hold13F
Core Cache Last Updated: 10/21/2026