Udr, Inc. · NYSE:UDR
Udr — NAREIT's Annual Conference June 2012
20 slides from Udr's conference presentation, Jun 12, 2012
Slide 1: NAREIT's Annual Conference June 2012
NAREIT'S Annual Conference June 2012 95 Wall New York, NY View 14 Washington, D.C. Rivergate New York, NY Garrison Square Boston, MA 989 Elements & Elements Too Bellevue, WA Exhibit 99.1
Slide 2: UDR Overview
Portfolio 60,211 homes in 212 communities(3) Total portfolio income per occupied home of $1,434(4) UDR owns, acquires, redevelops, develops and manages apartment communities with a focus on markets with above-average job growth, low homeownership affordability and limited new multifamily supply Lead
Slide 3: UDR Overview
UDR Overview Defined as FFO-Core per share which excludes all nonrecurring gains and losses. Includes UDR's pro-rata share of JV NOI and income per occupied home. Includes wholly-owned acquisitions and JV acquisitions at UDR's pro-rata share. Strong operating results generated over time SS growth ou
Slide 4: Business Strategies and Execution Tactics
Business Strategies and Execution Tactics Strategies to create shareholder value are consistent over time; tactics employed to execute on those strategies are dependent on macro economic forces, multifamily fundamentals and capital pricing Execution Tactics Strategic Priorities Recent Examples Impro
Slide 5: Operating Performance 1Q 2012 and Last 5-Year Same-Store Results
1Q 2012 1Q 2012 1Q 2012 Last 5 Year's Avg. Last 5 Year's Avg. Last 5 Year's Avg. Metric UDR Group avg. Difference UDR Group avg. Difference Revenue growth 5.3% 6.3% (100) bps 2.0% 1.5% 50 bps Expense growth (0.2)% 1.3% 150 bps 0.7% 1.5% 80 bps NOI growth 8.1% 9.0% (90) Bps 2.7% 1.6% 110 bps Occupanc
Slide 6: Operating Update
Operating Update New Lease Update Average new lease rate growth continued to accelerate in May; a trend that is expected to continue into the summer months March: +2.8% April: +3.2% May: +4.8% Best Markets: San Francisco, Boston, Seattle, Nashville and Texas Lagging Markets: Sacramento, Norfolk, Ric
Slide 7: Portfolio Management Strategy
Portfolio Management Strategy 14% 2% Same-Store Monthly Income Per Occupied Home Walk-Forward UDR's SS income per occupied home was $1,302 in 1Q 2012 and would increase to nearly $1,400 per home, or +7%, by 1Q 2013 as current non-SS homes are rolled into the SS pool at current, untrended rents As th
Slide 8: Recent Investment Activity
Recent Investment Activity Represents wholly-owned transactions completed from 2010 - YTD 2012. Includes assets sold or held for disposition as of 1Q 2012. Represents 1Q 2012 monthly income per occupied home or income per occupied home at time of disposition. Represents 1Q 2012 monthly income per oc
Slide 9: High-Quality Portfolio - Acquisitions/JV
Garrison Square - Boston, MA Rivergate - New York, NY 95 Wall - New York, NY Ashton Bellevue - Bellevue, WA 717 Olympic - Los Angeles, CA High-Quality Portfolio - Acquisitions/JV 388 Beale - San Francisco, CA Columbus Square - New York, NY Edgewater - San Francisco, CA
Slide 10: Current Development/Redevelopment Pipeline
Current Development/Redevelopment Pipeline Development(1) Strategy: Focus development opportunities in select core markets that compliment and enhance UDR's existing portfolio such as Southern California, Northern California, Washington, D.C., Boston and Dallas Pipeline: 2,680 homes in 9 communities
Slide 11: High-Quality Portfolio - Development/Redev
High-Quality Portfolio - Development/Redev The Calvert, redevelopment rendering - Alexandria, VA Los Alisos, development rendering - Mission Viejo, CA Mission Bay, development rendering - San Francisco, CA Capital View on 14th, development rendering - Washington, D.C. 13th & Market, development rend
Slide 12: Balance Sheet Metrics Following Secondary Equity Offering
The $477 million of Held For Disposition communities, as of 1Q 2012, are scheduled to close in June 2012. Calculated using the June 6, 2012 closing share price of common shares and pro-forma preferred share and debt balances following the 2Q 2012 community sales. Leverage is defined as debt plus pre
Slide 13: Unencumbered Asset Pool Summary
Annualized NOI as presented in 1Q 2012. After payoff of secured debt from the May 2012 $539 million equity raise and disposition of $477 million of unencumbered assets. $48 15% $97 30% $54 16% $52 16% $22 7% Metro NY/MA Mid-Atlantic Southern California Northern California Pacific Northwest $40 12% F
Slide 14: 2012 Full-Year Guidance Update
2012 Full-Year Guidance Update Range(1) Range(1) Transactional Activity ($M) Transactional Activity ($M) Transactional Activity ($M) Range ($M)(1) Range ($M)(1) Range ($M)(1) Completed ($M)(1) Completed ($M)(1) Completed ($M)(1) Remaining ($M)(1) Remaining ($M)(1) Remaining ($M)(1) FFO per diluted s
Slide 15: Forward-Looking Statement
Forward-Looking Statement Certain statements made in this presentation may constitute "forward-looking statements." Words such as "expects," "intends," "believes," "anticipates," "plans," "likely," "will," "seeks," "estimates" and variations of such words and similar expressions are intended to iden
Slide 16: Notes
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Slide 17: Notes
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Slide 18: Notes
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Slide 19: Notes
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Slide 20: Investor Relations Contact
Investor Relations Contact: Chris Van Ens cvanens@udr.com 720.348.7762