2019 Q4 Form 10-K Financial Statement

#000007420820000031 Filed on February 18, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q4
Revenue $304.8M $295.4M $267.7M
YoY Change 13.86% 10.99% 5.85%
Cost Of Revenue $96.20M $93.70M $84.60M
YoY Change 13.71% 9.33% 6.68%
Gross Profit $208.6M $201.7M $183.1M
YoY Change 13.93% 11.75% 5.47%
Gross Profit Margin 68.44% 68.28% 68.4%
Selling, General & Admin $14.50M $14.30M $11.00M
YoY Change 31.82% 20.17% -5.17%
% of Gross Profit 6.95% 7.09% 6.01%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $145.2M $129.0M $108.1M
YoY Change 34.32% 17.7% -2.7%
% of Gross Profit 69.61% 63.96% 59.04%
Operating Expenses $162.5M $143.9M $123.0M
YoY Change 32.11% 15.4% -2.15%
Operating Profit $46.10M $58.86M $60.10M
YoY Change -23.29% 6.99% 25.47%
Interest Expense $60.50M $42.52M -$36.50M
YoY Change -265.75% 23.61% 160.71%
% of Operating Profit 131.24% 72.25% -60.73%
Other Income/Expense, Net $1.875M
YoY Change 57.83%
Pretax Income $105.2M $30.92M $160.0M
YoY Change -34.25% 51.45% 108.6%
Income Tax $0.00 $1.499M $100.0K
% Of Pretax Income 0.0% 4.85% 0.06%
Net Earnings $105.2M $27.20M $89.62M
YoY Change 17.43% 46.18% 29.5%
Net Earnings / Revenue 34.53% 9.21% 33.48%
Basic Earnings Per Share $0.33 $0.09 $0.30
Diluted Earnings Per Share $0.33 $0.09 $0.30
COMMON SHARES
Basic Shares Outstanding 293.1M 288.7M 270.1M
Diluted Shares Outstanding 294.1M 289.5M 270.8M

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.100M $1.900M $185.2M
YoY Change -95.63% 72.73% 9160.0%
Cash & Equivalents $8.106M $1.895M $185.2M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.100M $1.900M $185.2M
YoY Change -95.63% 72.73% 9160.0%
LONG-TERM ASSETS
Property, Plant & Equipment $8.675B $7.700B $6.542B
YoY Change 32.6% 14.9% -4.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $585.5M $791.2M $585.5M
YoY Change 0.0% 3.1% -18.77%
Other Assets $25.20M $21.60M $23.70M
YoY Change 6.33% -20.0% 19.7%
Total Long-Term Assets $9.628B $8.696B $7.527B
YoY Change 27.93% 13.26% -2.65%
TOTAL ASSETS
Total Short-Term Assets $8.100M $1.900M $185.2M
Total Long-Term Assets $9.628B $8.696B $7.527B
Total Assets $9.636B $8.698B $7.712B
YoY Change 24.96% 13.27% -0.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $89.90M $72.20M $76.00M
YoY Change 18.29% -2.17% -26.21%
Accrued Expenses $243.8M $157.7M $38.70M
YoY Change 529.97% 467.27% 15.87%
Deferred Revenue
YoY Change
Short-Term Debt $300.0M $60.00M $101.1M
YoY Change 196.74%
Long-Term Debt Due $110.6M $71.50M
YoY Change 54.69%
Total Short-Term Liabilities $931.5M $477.3M $440.6M
YoY Change 111.42% 78.5% 58.43%
LONG-TERM LIABILITIES
Long-Term Debt $4.297B $3.876B $3.375B
YoY Change 27.31% 1.7% -8.08%
Other Long-Term Liabilities $100.0K $500.0K $400.0K
YoY Change -75.0%
Total Long-Term Liabilities $4.297B $3.876B $3.376B
YoY Change 27.3% 1.71% -8.06%
TOTAL LIABILITIES
Total Short-Term Liabilities $931.5M $477.3M $440.6M
Total Long-Term Liabilities $4.297B $3.876B $3.376B
Total Liabilities $5.228B $4.354B $3.816B
YoY Change 37.01% -14.39% -22.24%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $2.946M $2.929M $2.755M
YoY Change 6.93%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.359B $3.247B $2.906B
YoY Change
Total Liabilities & Shareholders Equity $9.636B $8.698B $7.712B
YoY Change 24.96% 13.27% -0.28%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q4
OPERATING ACTIVITIES
Net Income $105.2M $27.20M $89.62M
YoY Change 17.43% 46.18% 29.5%
Depreciation, Depletion And Amortization $145.2M $129.0M $108.1M
YoY Change 34.32% 17.7% -2.7%
Cash From Operating Activities $173.8M $170.5M $154.0M
YoY Change 12.86% 12.47% 18.83%
INVESTING ACTIVITIES
Capital Expenditures -$178.2M -$590.7M -$51.90M
YoY Change 243.35% 865.2% -57.0%
Acquisitions
YoY Change
Other Investing Activities -$125.7M $13.90M $141.5M
YoY Change -188.83% -145.42% 46.33%
Cash From Investing Activities -$303.9M -$576.8M $89.60M
YoY Change -439.17% 528.32% -473.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $349.9M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 139.8M 405.9M -62.70M
YoY Change -322.97% -748.4% -40.85%
NET CHANGE
Cash From Operating Activities 173.8M 170.5M 154.0M
Cash From Investing Activities -303.9M -576.8M 89.60M
Cash From Financing Activities 139.8M 405.9M -62.70M
Net Change In Cash 9.700M -400.0K 180.9M
YoY Change -94.64% -85.71% -45325.0%
FREE CASH FLOW
Cash From Operating Activities $173.8M $170.5M $154.0M
Capital Expenditures -$178.2M -$590.7M -$51.90M
Free Cash Flow $352.0M $761.2M $205.9M
YoY Change 70.96% 257.71% -17.74%

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StockIssuedDuringPeriodValueConversionOfUnits
134031000
CY2018 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
13328000
CY2017 us-gaap Stock Issued During Period Value Conversion Of Units
StockIssuedDuringPeriodValueConversionOfUnits
14544000
CY2019Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
109382000
CY2018Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
97666000
CY2017Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
91455000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
185216000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2038000
CY2016Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2112000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
23675000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19792000
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19994000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
208891000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21830000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2038000
CY2018Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
23675000
CY2017Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
19792000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33291000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
208891000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
21830000
CY2019Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
148
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
2883000
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
356000
CY2017 udr Taxable Distributions Paid Per Common Share Qualified Ordinary Income
TaxableDistributionsPaidPerCommonShareQualifiedOrdinaryIncome
0.011
CY2019 udr Development Costs Excluding Direct Costs And Capitalized Interest
DevelopmentCostsExcludingDirectCostsAndCapitalizedInterest
8400000
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Five Years
LessorOperatingLeasePaymentsToBeReceivedFiveYears
17304000
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
78818000
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
153650000
CY2019 us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2018 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
10600000
CY2017 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
18600000
CY2018Q4 us-gaap Notes Receivable Net
NotesReceivableNet
42259000
CY2019Q4 us-gaap Debt Instrument Convertible Remaining Discount Amortization Period1
DebtInstrumentConvertibleRemainingDiscountAmortizationPeriod1
P30Y
CY2019 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
5500000
CY2018 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
4100000
CY2017 us-gaap Other Interest And Dividend Income
OtherInterestAndDividendIncome
1800000
CY2019 udr Proceeds From Promoted Interest Received
ProceedsFromPromotedInterestReceived
8500000
CY2018 udr Proceeds From Promoted Interest Received
ProceedsFromPromotedInterestReceived
0
CY2017 udr Proceeds From Promoted Interest Received
ProceedsFromPromotedInterestReceived
0
CY2019 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
0
CY2019 udr Minimum Period Of Time Units Have Been Outstanding Prior To Redemption
MinimumPeriodOfTimeUnitsHaveBeenOutstandingPriorToRedemption
P1Y
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
180245000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
0
CY2019 us-gaap Variable Lease Cost
VariableLeaseCost
400000
CY2018Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
356000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
4707524000
CY2018Q4 us-gaap Long Term Debt
LongTermDebt
3547787000
CY2019 us-gaap Debt Instrument Interest Rate During Period
DebtInstrumentInterestRateDuringPeriod
0.0343
CY2019Q4 udr Secured Debt Encumbers Real Estate Owned Amount
SecuredDebtEncumbersRealEstateOwnedAmount
2100000000
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman';font-size:10pt;text-indent:36pt;margin:0pt 0pt 10pt 0pt;">The preparation of these financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the dates of the financial statements and the amounts of revenues and expenses during the reporting periods. Actual amounts realized or paid could differ from those estimates.</p>
CY2019 udr Minimum Percentage Of Carrying Value Of Real Estate Portfolio Held By Company
MinimumPercentageOfCarryingValueOfRealEstatePortfolioHeldByCompany
0.10
CY2019Q4 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
148
CY2019Q4 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
13
CY2019Q4 udr Number Of Apartment Homes Owned And Consolidated By Company
NumberOfApartmentHomesOwnedAndConsolidatedByCompany
47010
CY2019Q4 us-gaap Land
Land
2164032000
CY2018Q4 us-gaap Land
Land
1849799000
CY2019Q4 us-gaap Land Improvements
LandImprovements
224964000
CY2018Q4 us-gaap Land Improvements
LandImprovements
213224000
CY2019Q4 udr Investment Building And Building Improvements And Furniture Fixtures And Equipment
InvestmentBuildingAndBuildingImprovementsAndFurnitureFixturesAndEquipment
10102758000
CY2018Q4 udr Investment Building And Building Improvements And Furniture Fixtures And Equipment
InvestmentBuildingAndBuildingImprovementsAndFurnitureFixturesAndEquipment
8133136000
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
40570000
CY2019Q4 udr Real Estate Owned Gross
RealEstateOwnedGross
12602101000
CY2018Q4 udr Real Estate Owned Gross
RealEstateOwnedGross
10196159000
CY2019Q4 udr Real Estates Owned Accumulated Depreciation
RealEstatesOwnedAccumulatedDepreciation
4131353000
CY2018Q4 udr Real Estates Owned Accumulated Depreciation
RealEstatesOwnedAccumulatedDepreciation
3654160000
CY2019Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
8470748000
CY2018Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
6541999000
CY2019Q4 udr Gain From Consolidation Of Joint Venture
GainFromConsolidationOfJointVenture
0
CY2019Q4 us-gaap Payments To Develop Real Estate Assets
PaymentsToDevelopRealEstateAssets
977800000
CY2019Q4 udr Number Of Credit Facilities
NumberOfCreditFacilities
1
CY2019Q4 udr Number Of Land Parcels
NumberOfLandParcels
4
CY2019Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
551800000
CY2019Q4 udr Secured Debt Encumbers Real Estate Owned Percent
SecuredDebtEncumbersRealEstateOwnedPercent
0.168
CY2019Q4 udr Secured Debt Unencumbered Real Estate Owned Amount
SecuredDebtUnencumberedRealEstateOwnedAmount
10500000000
CY2019Q4 udr Secured Debt Unencumbered Real Estate Owned Percent
SecuredDebtUnencumberedRealEstateOwnedPercent
0.832
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
81458000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
44241000
CY2019Q4 udr Long Term Debt Maturities Repayment Of Principle In Year Nine
LongTermDebtMaturitiesRepaymentOfPrincipleInYearNine
422465000
CY2019Q4 udr Number Of Communities Under Development
NumberOfCommunitiesUnderDevelopment
3
CY2019Q4 udr Number Of Homes Under Development
NumberOfHomesUnderDevelopment
878
CY2019Q4 udr Budgeted Value Of Development Communities
BudgetedValueOfDevelopmentCommunities
278500000
CY2019Q4 udr Carrying Value Of Development Communities
CarryingValueOfDevelopmentCommunities
69800000
CY2019Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
24754000
CY2018Q4 us-gaap Equity Method Investments
EquityMethodInvestments
585490000
CY2019Q4 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
9000000.0
CY2018Q4 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
11000000.0
CY2019 udr Taxable Distributions Paid Per Common Share Long Term Capital Gain
TaxableDistributionsPaidPerCommonShareLongTermCapitalGain
0.021
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
198600000
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P44Y8M12D
CY2019Q4 udr Number Of Communities Subject To Ground Leases
NumberOfCommunitiesSubjectToGroundLeases
6
CY2019 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2019 us-gaap Lease Practical Expedients Package
LeasePracticalExpedientsPackage
true
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
204200000
CY2019 udr Right Of Use Assets Change Due To Remeasurement
RightOfUseAssetsChangeDueToRemeasurement
111100000
CY2019Q4 udr Number Of Ground Leases Becoming Fixed
NumberOfGroundLeasesBecomingFixed
2
CY2019 udr Operating Lease Right Of Use Asset Amortization
OperatingLeaseRightOfUseAssetAmortization
1200000
CY2019 udr Operating Lease Liabilities Amortization
OperatingLeaseLiabilitiesAmortization
800000
CY2019 us-gaap Operating Lease Cost
OperatingLeaseCost
400000
CY2019 us-gaap Short Term Lease Payments
ShortTermLeasePayments
0
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
22568000
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
22055000
CY2019Q4 udr Long Term Debt Maturities Repayment Of Principle In Year Seven
LongTermDebtMaturitiesRepaymentOfPrincipleInYearSeven
351070000
CY2019Q4 udr Long Term Debt Maturities Repayment Of Principle In Year Eight
LongTermDebtMaturitiesRepaymentOfPrincipleInYearEight
301111000
CY2018Q4 us-gaap Derivative Fair Value Of Derivative Liability Amount Offset Against Collateral
DerivativeFairValueOfDerivativeLiabilityAmountOffsetAgainstCollateral
356000
CY2017 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
117850000
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
285509000
CY2019Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
35300000
CY2018Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
5000000.0
CY2019Q4 udr Number Of Extensions Of Loan
NumberOfExtensionsOfLoan
2
CY2015Q4 udr Extension Period Of Option On Loan
ExtensionPeriodOfOptionOnLoan
P6M
CY2018 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
268513000
CY2019Q4 us-gaap Line Of Credit
LineOfCredit
2900000
CY2018Q4 us-gaap Line Of Credit
LineOfCredit
3300000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
410645000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
20380000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
3945000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
660873000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
410924000
CY2019Q4 udr Long Term Debt Maturities Repayment Of Principle In Year Six
LongTermDebtMaturitiesRepaymentOfPrincipleInYearSix
473189000
CY2019Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000.0
CY2018 udr Taxable Distributions Paid Per Common Share Long Term Capital Gain
TaxableDistributionsPaidPerCommonShareLongTermCapitalGain
0.058
CY2019Q4 udr Long Term Debt Maturities Repayment Of Principle In Year Ten
LongTermDebtMaturitiesRepaymentOfPrincipleInYearTen
444584000
CY2019 us-gaap Advertising Expense
AdvertisingExpense
6500000
CY2018 us-gaap Advertising Expense
AdvertisingExpense
6700000
CY2017 us-gaap Advertising Expense
AdvertisingExpense
6200000
CY2019Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
349800000
CY2019Q4 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
20443000
CY2019Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
350000000.0
CY2018 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3868000
CY2017 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3708000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
180861000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
199238000
CY2019 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.37
CY2019Q4 udr Long Term Debt Maturities Repayments Of Principal After Year Ten
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearTen
1199500000
CY2019Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4698686000
CY2019Q4 udr Debt Instrument Unamortized Fair Market Value Adjustment Discount Premium Deferred Financing Cost
DebtInstrumentUnamortizedFairMarketValueAdjustmentDiscountPremiumDeferredFinancingCost
-8838000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
4707524000
CY2019 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4200000
CY2018 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
4200000
CY2019 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
199579000
CY2018 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
221542000
CY2017 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
132655000
CY2019 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
14426000
CY2018 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
18215000
CY2017 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
10933000
CY2019 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
188000
CY2018 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
221000
CY2017 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
164000
CY2019 us-gaap Net Income Loss
NetIncomeLoss
184965000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
203106000
CY2017 us-gaap Net Income Loss
NetIncomeLoss
121558000
CY2019 us-gaap Dividends Preferred Stock
DividendsPreferredStock
4104000
CY2017 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
267567000
CY2019 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
262000
CY2018 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
334000
CY2017 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
543000
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
285247000
CY2018 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
268179000
CY2017 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
267024000
CY2019 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
286015000
CY2018 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
269483000
CY2017 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
268830000
CY2019 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.63
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.74
CY2017 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.44
CY2019 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.63
CY2018 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2017 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2019Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
7500000
CY2019Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
349900000
CY2019Q3 udr Weighted Average Share Price
WeightedAverageSharePrice
46.65
CY2017 udr Taxable Distributions Paid Per Common Share Long Term Capital Gain
TaxableDistributionsPaidPerCommonShareLongTermCapitalGain
0.133
CY2018 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.29
CY2017 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.24
CY2008 us-gaap Stock Issued During Period Shares Dividend Reinvestment Plan
StockIssuedDuringPeriodSharesDividendReinvestmentPlan
10000000.0
CY2019 udr Shares Reserved For Issuance Under Stock Purchase Plan
SharesReservedForIssuanceUnderStockPurchasePlan
11000000.0
CY2018 udr Taxable Distributions Paid Per Common Share Ordinary Income
TaxableDistributionsPaidPerCommonShareOrdinaryIncome
0.774
CY2017 udr Taxable Distributions Paid Per Common Share Ordinary Income
TaxableDistributionsPaidPerCommonShareOrdinaryIncome
1.018
CY2019Q4 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
1700000
CY2019 udr Transfer Between Levels
TransferBetweenLevels
0
CY2019 udr Taxable Distributions Paid Per Common Share Qualified Ordinary Income
TaxableDistributionsPaidPerCommonShareQualifiedOrdinaryIncome
0.004
CY2018 udr Taxable Distributions Paid Per Common Share Qualified Ordinary Income
TaxableDistributionsPaidPerCommonShareQualifiedOrdinaryIncome
0.006
CY2019 udr Share Based Compensation Arrangement By Share Based Payment Award Number Of Unexercised Stock Options
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfUnexercisedStockOptions
0
CY2019 udr Taxable Distributions Paid Per Common Share Ordinary Income
TaxableDistributionsPaidPerCommonShareOrdinaryIncome
0.981
CY2019 udr Taxable Distributions Paid Per Common Share Unrecapture Section Gain
TaxableDistributionsPaidPerCommonShareUnrecaptureSectionGain
0.063
CY2018 udr Taxable Distributions Paid Per Common Share Unrecapture Section Gain
TaxableDistributionsPaidPerCommonShareUnrecaptureSectionGain
0.233
CY2017 udr Taxable Distributions Paid Per Common Share Unrecapture Section Gain
TaxableDistributionsPaidPerCommonShareUnrecaptureSectionGain
0.063
CY2019 udr Taxable Distributions Paid Per Common Share Nondividend Distributions
TaxableDistributionsPaidPerCommonShareNondividendDistributions
0.281
CY2018 udr Taxable Distributions Paid Per Common Share Nondividend Distributions
TaxableDistributionsPaidPerCommonShareNondividendDistributions
0.207
CY2019 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.350
CY2018 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.278
CY2017 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
1.225
CY2019Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1018665000
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
972740000
CY2018 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
18215000
CY2019 us-gaap Distributions On Mandatorily Redeemable Securities
DistributionsOnMandatorilyRedeemableSecurities
32270000
CY2018 us-gaap Distributions On Mandatorily Redeemable Securities
DistributionsOnMandatorilyRedeemableSecurities
32798000
CY2018 udr Operating Partnership Units Issued
OperatingPartnershipUnitsIssued
4320000
CY2019 udr Long Term Incentive Plan Operating Partnership Unit Vesting Value
LongTermIncentivePlanOperatingPartnershipUnitVestingValue
14742000
CY2018 udr Long Term Incentive Plan Operating Partnership Unit Vesting Value
LongTermIncentivePlanOperatingPartnershipUnitVestingValue
4397000
CY2019 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
-826000
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3800000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
700000
CY2019 udr Increase Decrease In Income Tax Expense Benefit
IncreaseDecreaseInIncomeTaxExpenseBenefit
3100000
CY2018 udr Effective Income Tax Rate Reconciliation Tax Cuts And Jobs Act Of2017 Alternative Minimum Tax Credit Amount
EffectiveIncomeTaxRateReconciliationTaxCutsAndJobsActOf2017AlternativeMinimumTaxCreditAmount
2000000.0
CY2019 udr Increase In Income Tax Expense Due To Unrealized Gains On Other Investments
IncreaseInIncomeTaxExpenseDueToUnrealizedGainsOnOtherInvestments
1300000
CY2019 udr Minimum Holding Period Of Redeemable Units For Redemption
MinimumHoldingPeriodOfRedeemableUnitsForRedemption
P1Y
CY2018Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
972740000
CY2017Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
948138000
CY2019 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-183884000
CY2018 us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-43552000
CY2019 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
134031000
CY2018 us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
13328000
CY2019 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
14426000
CY2019Q4 us-gaap Derivative Collateral Right To Reclaim Securities
DerivativeCollateralRightToReclaimSecurities
3000
CY2019 us-gaap Interest Expense Debt
InterestExpenseDebt
170917000
CY2018 us-gaap Interest Expense Debt
InterestExpenseDebt
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CY2017 us-gaap Interest Expense Debt
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0
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2418222000
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214898000
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369029000
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31202000
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3330166000
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2923625000
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477193000
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426006000
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424772000
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102012000
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18231000
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4131353000
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RealEstateAccumulatedDepreciation
3654160000
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RealEstateAccumulatedDepreciation
3330166000

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udr-20191231_pre.xml Edgar Link unprocessable