UDR, Inc. announced its third quarter 2026 results on November 2, 2026, and updated its financial outlook for the remainder of the year. The company reported Net Income per diluted share of $0.67 for the quarter ended September 30, 2026, compared to $0.12 in the prior year. Funds from Operations (FFO) per diluted share was $0.62, while FFO as Adjusted (FFOA) per diluted share was $0.65.
The company has raised its full-year 2026 guidance for Net Income per diluted share to a range of $1.58 to $1.60, up from a prior outlook of $1.03 to $1.11. FFOA per diluted share guidance was raised to $2.54 to $2.56, compared to the previous range of $2.49 to $2.57. FFO per diluted share guidance was updated to $2.48 to $2.50, with a midpoint of $2.49, representing a slight adjustment of $0.02 from the prior midpoint. The company also provided guidance for Same-Store (SS) Revenue growth of 1.4% to 1.8% and SS Net Operating Income (NOI) growth of 0.8% to 1.2% for the full year.
In a significant capital allocation move, UDR closed a strategic partnership with Apollo. The company contributed 19 apartment communities, totaling 7,059 homes, to a new joint venture. In exchange, UDR received $1.34 billion in equity capital and retained a one-third interest in the venture. The company also repurchased approximately 5.2 million shares of common stock during and after the quarter for a total consideration of about $185.1 million at a weighted average price of $35.48.
UDR reported total Same-Store revenue growth of 1.8% year-over-year for the third quarter, with physical occupancy averaging 96.5%. Total indebtedness as of September 30, 2026, stood at $5.8 billion at a weighted average interest rate of 3.45%. The company reported $641.6 million in liquidity as of the end of the quarter.
