Slide 1: UDR, Inc. Announces Second Quarter 2026 Results
Press Release DENVER, CO – July 27, 2026 Contact: Trent Trujillo Email: ttrujillo@udr.com UDR, INC. ANNOUNCES SECOND QUARTER 2026 RESULTS AND RAISES FULL-YEAR 2026 GUIDANCE RANGES UDR, Inc. (the “Company”) (NYSE: UDR), announced today its second quarter 2026 results. Net Income, Funds from Operation
Slide 2: Capital Allocation Activity
Capital Allocation Activity Leveraging the Company’s collaborative and data-driven approach to capital allocation, during the quarter and subsequent to quarter-end, the Company, • As previously reported, expanded its share repurchase program to approximately 30 million shares and repurchased approxi
Slide 3: Same-Store Results by Region
In the tables below, the Company has presented YOY, sequential, and YTD Same-Store results by region. Summary of Same-Store Results in the Second Quarter 2026 versus the Second Quarter 2025 Revenue Expense NOI Growth / Growth / Growth / % of Same-Store Physical YOY Change Region (Decline) (Decline)
Slide 4: Balance Sheet Update
Balance Sheet Update The Company’s total indebtedness as of June 30, 2026, was $5.8 billion at a weighted average interest rate of 3.4 percent, with $328.4 million, or 6.2 percent of total consolidated debt, maturing through the rest of 2026, including principal amortization and excluding amounts on
Slide 5: Attachment 14(A): Definitions and Reconciliations
Attachment 14(A) Definitions and Reconciliations June 30, 2026 (Unaudited) Acquired Communities: The Company defines Acquired Communities as those communities acquired by the Company, other than development and redevelopment activity, that did not achieve stabilization as of the most recent quarter.
Slide 6: Attachment 14(B): Definitions and Reconciliations
Attachment 14(B) Definitions and Reconciliations June 30, 2026 (Unaudited) Funds from Operations as Adjusted ("FFO as Adjusted") attributable to common stockholders and unitholders: The Company defines FFO as Adjusted attributable to common stockholders and unitholders as FFO excluding the impact of
Slide 7: Attachment 14(C): Definitions and Reconciliations
Attachment 14(C) Definitions and Reconciliations June 30, 2026 (Unaudited) NOI Enhancing Capital Expenditures ("Cap Ex"): The Company defines NOI Enhancing Capital Expenditures as expenditures that result in increased income generation or decreased expense growth over time. Management considers NOI
Slide 8: Conference Call and Webcast Information
Conference Call and Webcast Information UDR will host a webcast and conference call at 12:00 p.m. Eastern Time on July 28, 2026, to discuss second quarter 2026 results as well as high-level views for 2026. The webcast will be available on the Investor Relations section of the Company’s website at ir
Slide 9: Attachment 1: Consolidated Statements of Operations
Attachment 1 Consolidated Statements of Operations (Unaudited) (1) Three Months Ended Six Months Ended June 30, June 30, In thousands, except per share amounts 2026 2025 2026 2025 REVENUES: Rental income $ 422,933 $ 423,001 $ 846,254 $ 842,837 Joint venture management and other fees 2,466 2,398 4,99
Slide 10: Attachment 2: Funds From Operations
Attachment 2 Funds From Operations (Unaudited) (1) Three Months Ended Six Months Ended June 30, June 30, In thousands, except per share and unit amounts 2026 2025 2026 2025 Net income/(loss) attributable to common stockholders $ 67,810 $ 36,462 $ 256,421 $ 111,976 Real estate depreciation and amorti
Slide 11: Attachment 3: Consolidated Balance Sheets
Attachment 3 Consolidated Balance Sheets (Unaudited) (1) June 30, December 31, In thousands, except share and per share amounts 2026 2025 ASSETS Real estate owned: Real estate held for investment $ 16,114,220 $ 16,415,000 Less: accumulated depreciation (7,439,163) (7,374,546) Real estate held for in
Slide 12: Attachment 4(C): Selected Financial Information
Attachment 4(C) Selected Financial Information (Dollars in Thousands) (Unaudited) (1) Quarter Ended Coverage Ratios June 30, 2026 Net income/(loss) $ 73,655 Adjustments: Interest expense, including debt extinguishment and other associated costs 47,640 Real estate depreciation and amortization 160,12
Slide 13: Attachment 14(D): Definitions and Reconciliations
Attachment 14(D) Definitions and Reconciliations June 30, 2026 (Unaudited) All guidance is based on current expectations of future economic conditions and the judgment of the Company's management team. The following reconciles from GAAP Net income/(loss) per share for full-year 2026 and third quarte