UDR's Q1 results reflect an increase in same-store NOI due to higher occupancy and an effective blended lease rate. However, higher expenses acted as a dampener.
While the top- and bottom-line numbers for UDR (UDR) give a sense of how the business performed in the quarter ended March 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
UDR (UDR) came out with quarterly funds from operations (FFO) of $0.61 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.61 per share a year ago.
UDR's Q1 earnings are likely to have benefited from its diversified portfolio & tech-driven initiatives, although elevated supply levels may have weighed on performance.
UDR's focus on legacy markets with limited supply has driven rent growth, outperforming Sun Belt regions, supporting a stable rental demand outlook. The company's strong balance sheet, low turnover, and favorable debt metrics provide a secure foundation for continued modest growth and dividend sustainability. Despite solid fundamentals, UDR's valuation suggests market-like returns; a pullback to $41 would make shares more attractive for investment.
UDR (UDR) reported earnings 30 days ago. What's next for the stock?
UDR, Inc. (NYSE:UDR ) Q4 2024 Earnings Conference Call February 6, 2025 12:00 PM ET Company Participants Trent Trujillo - Vice President, Investor Relations Tom Toomey - Chairman & Chief Executive Officer Joe Fisher - President, Chief Financial Officer & Chief Investment Officer Mike Lacy - Chief Operating Officer Chris Van Ens - Vice President Conference Call Participants Nick Yulico - Scotiabank Eric Wolfe - Citi Jamie Feldman - Wells Fargo Steve Sakwa - Evercore ISI Jeff Spector - Bank of America Austin Wurschmidt - KeyBanc Capital Markets Michael Goldsmith - UBS Brad Heffern - RBC Capital Markets Alexander Goldfarb - Piper Sandler John Kim - BMO Capital Markets Julien Blouin - Goldman Sachs Alex Kalmus - Zelman & Associates Haendel St. Juste - Mizuho Securities Linda Tsai - Jefferies Tayo Okusanya - Deutsche Bank Mason Guell - Baird Operator Greetings, and welcome to UDR's Fourth Quarter 2024 Earnings Call. [Operator Instructions] As a reminder this conference call is being recorded.
UDR's Q4 results reflect an increase in same-store revenues and same-store net operating income.
Although the revenue and EPS for UDR (UDR) give a sense of how its business performed in the quarter ended December 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
UDR (UDR) came out with quarterly funds from operations (FFO) of $0.63 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.63 per share a year ago.
UDR's Q4 earnings are likely to have gained from portfolio diversification and technological initiatives, though high supply may have acted as a dampener.
UDR, Inc. is a well-diversified multifamily REIT with exposure to both Tier 1 coastal and high-growth Sunbelt markets. It has steady occupancy and favorable rent-to-income ratios. Persistent high mortgage rates make renting more attractive, positioning UDR to benefit from robust tenant demand and lower new supply, supporting long-term value and income growth. UDR's moderate valuation supports the potential for 9-10% total annual returns through dividends and FFO/share growth, making it a solid investment candidate.