UDR, Inc. announced on October 21, 2026, that it has raised its full-year 2026 guidance ranges for both Net Income and Funds From Operations as Adjusted (FFOA) per diluted share. The company also provided preliminary results for the third quarter of 2026. The updated guidance reflects an increase of $0.52 per share for Net Income and an increase of $0.02 per share for FFOA compared to the previously provided outlook.
For the third quarter of 2026, UDR reported preliminary Net Income per diluted share of $0.67, which is significantly higher than the prior guidance range of $0.13 to $0.15. The company also reported FFOA per diluted share of $0.65, which represents the high end of the previously provided range of $0.63 to $0.65.
In addition to the financial results, UDR disclosed the formation of a long-term joint venture with Apollo. The portfolio contributed by UDR to this venture consists of 19 apartment communities containing 7,059 homes, and is valued at approximately $2.0 billion.
UDR also provided an outlook for the fourth quarter of 2026. The company expects Net Income per diluted share to be between $0.13 and $0.15, and FFOA per diluted share to be between $0.63 and $0.65. The company noted that the Net Income, FFO, and FFOA per share for all 2026 periods and guidance are unaffected by the Apollo transaction.
Regarding operational metrics, the company reported a Weighted Average Physical Occupancy of 96.5% for the third quarter of 2026 and an Effective Blended Lease Rate Growth of 2.0% for the same period.
During the quarter, UDR completed several capital allocation activities, including the sale of two apartment communities in Seattle and Nashville for a combined 412 homes and gross proceeds of $183.0 million. The company also expanded its joint venture with LaSalle Investment Management to approximately $958.3 million by contributing a 360-home apartment community in Nashville.
