$UDR
UDR, Inc.

2024 Q3 Form 10-Q Financial Statement

#000007420824000060 Filed on July 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $420.2M $415.3M
YoY Change 2.45% 2.66%
Cost Of Revenue $147.3M $142.8M
YoY Change 2.99% 2.35%
Gross Profit $272.9M $272.6M
YoY Change 2.15% 2.83%
Gross Profit Margin 64.95% 65.63%
Selling, General & Admin $20.89M $20.14M
YoY Change 37.81% 22.39%
% of Gross Profit 7.65% 7.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $174.3M $175.2M
YoY Change 1.79% 1.48%
% of Gross Profit 63.87% 64.27%
Operating Expenses $201.6M $202.9M
YoY Change 5.53% 4.96%
Operating Profit $69.86M $68.67M
YoY Change -10.52% -4.3%
Interest Expense -$45.94M -$37.27M
YoY Change -202.85% 49.25%
% of Operating Profit -65.76% -54.27%
Other Income/Expense, Net $6.159M $6.498M
YoY Change -300.68% -37.8%
Pretax Income $23.92M $31.40M
YoY Change -33.27% -91.55%
Income Tax -$156.0K $386.0K
% Of Pretax Income -0.65% 1.23%
Net Earnings $22.60M $28.88M
YoY Change -31.23% -91.66%
Net Earnings / Revenue 5.38% 6.95%
Basic Earnings Per Share $0.06 $0.08
Diluted Earnings Per Share $0.06 $0.08
COMMON SHARES
Basic Shares Outstanding 329.8M 329.3M
Diluted Shares Outstanding 330.6M 329.6M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.285M $2.770M
YoY Change 40.7% 79.4%
Cash & Equivalents $2.285M $2.770M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.285M $2.770M
YoY Change 40.7% 79.4%
LONG-TERM ASSETS
Property, Plant & Equipment $9.601B $9.687B
YoY Change -3.93% -0.03%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $957.2M $950.1M
YoY Change 0.21% -1.37%
Other Assets $33.27M $31.62M
YoY Change 7.9% 9.64%
Total Long-Term Assets $11.08B $11.12B
YoY Change -2.99% 0.28%
TOTAL ASSETS
Total Short-Term Assets $2.285M $2.770M
Total Long-Term Assets $11.08B $11.12B
Total Assets $11.08B $11.12B
YoY Change -2.98% 0.29%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $119.2M $120.8M
YoY Change -5.38% -2.95%
Accrued Expenses $212.0M $231.4M
YoY Change -0.85% -1.25%
Deferred Revenue
YoY Change
Short-Term Debt $290.0M $430.0M
YoY Change -23.68% 72.0%
Long-Term Debt Due $1.340M $96.38M
YoY Change 273.26% 14568.95%
Total Short-Term Liabilities $601.5M $597.2M
YoY Change -39.2% -30.03%
LONG-TERM LIABILITIES
Long-Term Debt $5.865B $5.776B
YoY Change 9.17% 11.58%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $5.865B $5.776B
YoY Change 9.17% 11.58%
TOTAL LIABILITIES
Total Short-Term Liabilities $601.5M $597.2M
Total Long-Term Liabilities $5.865B $5.776B
Total Liabilities $6.467B $6.373B
YoY Change 1.65% -8.51%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock $3.299M $3.295M
YoY Change 0.3% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.514B $3.722B
YoY Change
Total Liabilities & Shareholders Equity $11.08B $11.12B
YoY Change -2.98% 0.29%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $22.60M $28.88M
YoY Change -31.23% -91.66%
Depreciation, Depletion And Amortization $174.3M $175.2M
YoY Change 1.79% 1.48%
Cash From Operating Activities $230.3M $238.5M
YoY Change 13.09% -1.45%
INVESTING ACTIVITIES
Capital Expenditures $86.43M $94.15M
YoY Change -37.22% -29.8%
Acquisitions
YoY Change
Other Investing Activities -$61.83M -$3.630M
YoY Change 246.1% -101.9%
Cash From Investing Activities -$148.3M -$97.78M
YoY Change -4.68% -272.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -80.83M -138.3M
YoY Change 75.71% -53.52%
NET CHANGE
Cash From Operating Activities 230.3M 238.5M
Cash From Investing Activities -148.3M -97.78M
Cash From Financing Activities -80.83M -138.3M
Net Change In Cash 1.166M 2.420M
YoY Change -43.78% 106.66%
FREE CASH FLOW
Cash From Operating Activities $230.3M $238.5M
Capital Expenditures $86.43M $94.15M
Free Cash Flow $143.8M $144.3M
YoY Change 118.12% 33.8%

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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q2 us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2024Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Profit Loss
ProfitLoss
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us-gaap Share Based Compensation
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us-gaap Proceeds From Equity Method Investment Dividends Or Distributions Return Of Capital
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us-gaap Payments For Proceeds From Loans Receivable
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us-gaap Payments For Proceeds From Loans Receivable
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments Of Dividends Minority Interest
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us-gaap Income Taxes Paid Net
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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us-gaap Capital Expenditures Incurred But Not Yet Paid
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CY2024Q2 us-gaap Number Of States In Which Entity Operates
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CY2024Q2 udr Number Of Apartment Homes Owned And Consolidated By Company
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CY2023Q4 us-gaap Land Improvements
LandImprovements
255706000
CY2024Q2 udr Investment Building And Building Improvements And Furniture Fixtures And Equipment
InvestmentBuildingAndBuildingImprovementsAndFurnitureFixturesAndEquipment
13193245000
CY2023Q4 udr Investment Building And Building Improvements And Furniture Fixtures And Equipment
InvestmentBuildingAndBuildingImprovementsAndFurnitureFixturesAndEquipment
12902021000
CY2024Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
50013000
CY2023Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
50013000
CY2024Q2 udr Real Estate Owned Gross
RealEstateOwnedGross
16070591000
CY2023Q4 udr Real Estate Owned Gross
RealEstateOwnedGross
16023859000
CY2024Q2 udr Real Estates Owned Accumulated Depreciation
RealEstatesOwnedAccumulatedDepreciation
6572743000
CY2023Q4 udr Real Estates Owned Accumulated Depreciation
RealEstatesOwnedAccumulatedDepreciation
6267830000
CY2024Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9497848000
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9756029000
CY2024Q2 udr Real Estate Owned Accumulated Amortization Intangible Assets
RealEstateOwnedAccumulatedAmortizationIntangibleAssets
19200000
CY2023Q4 udr Real Estate Owned Accumulated Amortization Intangible Assets
RealEstateOwnedAccumulatedAmortizationIntangibleAssets
17200000
CY2024Q2 udr Development Costs Excluding Direct Costs And Capitalized Interest
DevelopmentCostsExcludingDirectCostsAndCapitalizedInterest
4400000
CY2023Q2 udr Development Costs Excluding Direct Costs And Capitalized Interest
DevelopmentCostsExcludingDirectCostsAndCapitalizedInterest
3100000
udr Development Costs Excluding Direct Costs And Capitalized Interest
DevelopmentCostsExcludingDirectCostsAndCapitalizedInterest
8600000
udr Development Costs Excluding Direct Costs And Capitalized Interest
DevelopmentCostsExcludingDirectCostsAndCapitalizedInterest
7700000
CY2024Q2 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
2400000
CY2023Q2 us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
2300000
us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
5300000
us-gaap Interest Costs Incurred Capitalized
InterestCostsIncurredCapitalized
4600000
CY2023Q2 us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
3882000
us-gaap Gain Loss On Sale Of Investments
GainLossOnSaleOfInvestments
5369000
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
950062000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
944071000
CY2024Q2 udr Income From Participating Loan
IncomeFromParticipatingLoan
4046000
CY2023Q2 udr Income From Participating Loan
IncomeFromParticipatingLoan
9697000
udr Income From Participating Loan
IncomeFromParticipatingLoan
13131000
udr Income From Participating Loan
IncomeFromParticipatingLoan
19404000
CY2024Q2 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
7300000
CY2023Q4 us-gaap Deferred Gain On Sale Of Property
DeferredGainOnSaleOfProperty
7600000
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2000000.0
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4000000.0
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2700000
CY2024Q2 udr Number Of Communities Subject To Ground Leases
NumberOfCommunitiesSubjectToGroundLeases
6
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
true
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
188800000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
190600000
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
184100000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
185800000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P41Y7M6D
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P42Y
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1800000
udr Operating Lease Liabilities Amortization
OperatingLeaseLiabilitiesAmortization
1800000
us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
1700000
udr Operating Lease Liabilities Amortization
OperatingLeaseLiabilitiesAmortization
1600000
CY2024Q2 us-gaap Variable Lease Cost
VariableLeaseCost
200000
CY2023Q2 us-gaap Variable Lease Cost
VariableLeaseCost
200000
us-gaap Variable Lease Cost
VariableLeaseCost
800000
us-gaap Variable Lease Cost
VariableLeaseCost
800000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
5776136000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
5798709000
CY2024Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0338
CY2024Q2 udr Secured Debt Encumbers Real Estate Owned Percent
SecuredDebtEncumbersRealEstateOwnedPercent
0.13
CY2024Q2 udr Secured Debt Unencumbered Real Estate Owned Percent
SecuredDebtUnencumberedRealEstateOwnedPercent
0.87
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
542019000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
179880000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
356672000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
656939000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
466526000
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
615811000
CY2024Q2 udr Long Term Debt Maturities Repayment Of Principle In Year Six
LongTermDebtMaturitiesRepaymentOfPrincipleInYearSix
830597000
CY2024Q2 udr Long Term Debt Maturities Repayment Of Principle In Year Seven
LongTermDebtMaturitiesRepaymentOfPrincipleInYearSeven
760930000
CY2024Q2 udr Long Term Debt Maturities Repayment Of Principle In Year Eight
LongTermDebtMaturitiesRepaymentOfPrincipleInYearEight
427000000
CY2024Q2 udr Long Term Debt Maturities Repayment Of Principle In Year Nine
LongTermDebtMaturitiesRepaymentOfPrincipleInYearNine
650000000
CY2024Q2 udr Long Term Debt Maturities Repayments Of Principal After Year Nine
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearNine
300000000
CY2024Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
5786374000
CY2024Q2 udr Debt Instrument Unamortized Fair Market Value Adjustment Discount Premium Deferred Financing Cost
DebtInstrumentUnamortizedFairMarketValueAdjustmentDiscountPremiumDeferredFinancingCost
10238000
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
5776136000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
31013000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
370183000
us-gaap Profit Loss
ProfitLoss
77323000
us-gaap Profit Loss
ProfitLoss
403108000
CY2024Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
2013000
CY2023Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
22630000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5162000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
24583000
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
117000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
8000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
129000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
16000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
28883000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
347545000
us-gaap Net Income Loss
NetIncomeLoss
72032000
us-gaap Net Income Loss
NetIncomeLoss
378509000
CY2024Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1210000
CY2023Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
1222000
us-gaap Dividends Preferred Stock
DividendsPreferredStock
2441000
us-gaap Dividends Preferred Stock
DividendsPreferredStock
2405000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
27673000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
346323000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
69591000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
376104000
CY2023Q2 us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
1222000
us-gaap Dilutive Securities Effect On Basic Earnings Per Share Other
DilutiveSecuritiesEffectOnBasicEarningsPerShareOther
2405000
CY2024Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
27673000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
347545000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
69591000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
378509000
CY2024Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
329428000
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
329324000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
329336000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
329242000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
372000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
367000
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
396000
us-gaap Incremental Common Shares Attributable To Participating Nonvested Shares With Non Forfeitable Dividend Rights
IncrementalCommonSharesAttributableToParticipatingNonvestedSharesWithNonForfeitableDividendRights
371000
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
329056000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
328957000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
328940000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
328871000
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
516000
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3523000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
394000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3541000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
329572000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
332480000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
329334000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
332412000
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.05
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.14
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.08
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.05
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.14
udr Minimum Holding Period Of Redeemable Units For Redemption
MinimumHoldingPeriodOfRedeemableUnitsForRedemption
P1Y
CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
961087000
us-gaap Minority Interest Change In Redemption Value
MinorityInterestChangeInRedemptionValue
-75430000
us-gaap Conversion Of Stock Amount Issued1
ConversionOfStockAmountIssued1
12476000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5162000
us-gaap Distributions On Mandatorily Redeemable Securities
DistributionsOnMandatorilyRedeemableSecurities
21378000
udr Long Term Incentive Plan Operating Partnership Unit Vesting Value
LongTermIncentivePlanOperatingPartnershipUnitVestingValue
13707000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
250000
CY2024Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
1021782000
udr Transfers Between Levels Fair Value Hierarchy
TransfersBetweenLevelsFairValueHierarchy
0
CY2024Q2 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
6100000
CY2024Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
47811000
CY2023Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
45113000
us-gaap Interest Expense Debt
InterestExpenseDebt
95873000
us-gaap Interest Expense Debt
InterestExpenseDebt
88855000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
7622000
CY2024Q2 us-gaap Derivative Assets
DerivativeAssets
7622000
CY2024Q2 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
7622000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
10103000
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
10103000
CY2023Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountOffsetAgainstCollateral
10103000
CY2024Q2 udr Cost Incurred To Date
CostIncurredToDate
105418000
CY2024Q2 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
147622000
udr Property Management Costs Operating Percentage
PropertyManagementCostsOperatingPercentage
0.0325
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
udr Condition For Community Considered To Have Stabilized Occupancy
ConditionForCommunityConsideredToHaveStabilizedOccupancy
90%
udr Lease Practical Expedient Lessor Single Lease Component True False
LeasePracticalExpedientLessorSingleLeaseComponentTrueFalse
true
CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1992000
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1450000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3957000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2692000
CY2024Q2 udr Segment Reporting Reconciling Items Owned Property Management Costs
SegmentReportingReconcilingItemsOwnedPropertyManagementCosts
13433000
CY2023Q2 udr Segment Reporting Reconciling Items Owned Property Management Costs
SegmentReportingReconcilingItemsOwnedPropertyManagementCosts
13101000
udr Segment Reporting Reconciling Items Owned Property Management Costs
SegmentReportingReconcilingItemsOwnedPropertyManagementCosts
26812000
udr Segment Reporting Reconciling Items Owned Property Management Costs
SegmentReportingReconcilingItemsOwnedPropertyManagementCosts
26046000
CY2024Q2 udr Other Cost And Expense Operating Including Discontinued Operations
OtherCostAndExpenseOperatingIncludingDiscontinuedOperations
7593000
CY2023Q2 udr Other Cost And Expense Operating Including Discontinued Operations
OtherCostAndExpenseOperatingIncludingDiscontinuedOperations
4259000
udr Other Cost And Expense Operating Including Discontinued Operations
OtherCostAndExpenseOperatingIncludingDiscontinuedOperations
14421000
udr Other Cost And Expense Operating Including Discontinued Operations
OtherCostAndExpenseOperatingIncludingDiscontinuedOperations
7291000
CY2024Q2 udr Segment Reporting Reconciling Items Cost Of Services Depreciation And Amortization
SegmentReportingReconcilingItemsCostOfServicesDepreciationAndAmortization
170488000
CY2023Q2 udr Segment Reporting Reconciling Items Cost Of Services Depreciation And Amortization
SegmentReportingReconcilingItemsCostOfServicesDepreciationAndAmortization
168925000
udr Segment Reporting Reconciling Items Cost Of Services Depreciation And Amortization
SegmentReportingReconcilingItemsCostOfServicesDepreciationAndAmortization
340346000
udr Segment Reporting Reconciling Items Cost Of Services Depreciation And Amortization
SegmentReportingReconcilingItemsCostOfServicesDepreciationAndAmortization
338225000
CY2024Q2 udr Other General And Administrative Expense Including Discontinued Operations
OtherGeneralAndAdministrativeExpenseIncludingDiscontinuedOperations
20136000
CY2023Q2 udr Other General And Administrative Expense Including Discontinued Operations
OtherGeneralAndAdministrativeExpenseIncludingDiscontinuedOperations
16452000
udr Other General And Administrative Expense Including Discontinued Operations
OtherGeneralAndAdministrativeExpenseIncludingDiscontinuedOperations
37946000
udr Other General And Administrative Expense Including Discontinued Operations
OtherGeneralAndAdministrativeExpenseIncludingDiscontinuedOperations
33932000
CY2024Q2 udr Casualty Related Recoveries Charges Net
CasualtyRelatedRecoveriesChargesNet
998000
CY2023Q2 udr Casualty Related Recoveries Charges Net
CasualtyRelatedRecoveriesChargesNet
1134000
udr Casualty Related Recoveries Charges Net
CasualtyRelatedRecoveriesChargesNet
7276000
udr Casualty Related Recoveries Charges Net
CasualtyRelatedRecoveriesChargesNet
5290000
CY2024Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
4679000
CY2023Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
3681000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
8995000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
7330000
CY2023Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
325884000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
16867000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
325885000
CY2024Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4046000
CY2023Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
9697000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
13131000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
19404000
CY2024Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
47811000
CY2023Q2 us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
45113000
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
95873000
us-gaap Interest Expense Nonoperating
InterestExpenseNonoperating
88855000
CY2024Q2 udr Interest And Other Income Including Discontinued Operations
InterestAndOtherIncomeIncludingDiscontinuedOperations
6498000
CY2023Q2 udr Interest And Other Income Including Discontinued Operations
InterestAndOtherIncomeIncludingDiscontinuedOperations
10447000
udr Interest And Other Income Including Discontinued Operations
InterestAndOtherIncomeIncludingDiscontinuedOperations
12363000
udr Interest And Other Income Including Discontinued Operations
InterestAndOtherIncomeIncludingDiscontinuedOperations
11457000
CY2024Q2 udr Income Tax Expense Benefit Of Reit Subsidiary Net Including Discontinued Operations
IncomeTaxExpenseBenefitOfReitSubsidiaryNetIncludingDiscontinuedOperations
386000
CY2023Q2 udr Income Tax Expense Benefit Of Reit Subsidiary Net Including Discontinued Operations
IncomeTaxExpenseBenefitOfReitSubsidiaryNetIncludingDiscontinuedOperations
1351000
udr Income Tax Expense Benefit Of Reit Subsidiary Net Including Discontinued Operations
IncomeTaxExpenseBenefitOfReitSubsidiaryNetIncludingDiscontinuedOperations
723000
udr Income Tax Expense Benefit Of Reit Subsidiary Net Including Discontinued Operations
IncomeTaxExpenseBenefitOfReitSubsidiaryNetIncludingDiscontinuedOperations
1585000
CY2024Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
2013000
CY2023Q2 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
22630000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
5162000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
24583000
CY2024Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
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117000
CY2023Q2 us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
8000
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
129000
us-gaap Noncontrolling Interest In Net Income Loss Other Noncontrolling Interests Nonredeemable
NoncontrollingInterestInNetIncomeLossOtherNoncontrollingInterestsNonredeemable
16000
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
28883000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
347545000
us-gaap Net Income Loss
NetIncomeLoss
72032000
us-gaap Net Income Loss
NetIncomeLoss
378509000
udr Same Store Communities
SameStoreCommunities
52545
udr Same Store Communities
SameStoreCommunities
51804
CY2024Q2 udr Real Estate Owned Gross
RealEstateOwnedGross
16070591000
CY2023Q4 udr Real Estate Owned Gross
RealEstateOwnedGross
16023859000
CY2024Q2 udr Real Estates Owned Accumulated Depreciation
RealEstatesOwnedAccumulatedDepreciation
6572743000
CY2023Q4 udr Real Estates Owned Accumulated Depreciation
RealEstatesOwnedAccumulatedDepreciation
6267830000
CY2024Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9497848000
CY2023Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
9756029000
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2770000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2922000
CY2024Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
31616000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
31944000
CY2024Q2 us-gaap Notes Receivable Net
NotesReceivableNet
241842000
CY2023Q4 us-gaap Notes Receivable Net
NotesReceivableNet
228825000
CY2024Q2 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesFairValueDisclosure
958943000
CY2023Q4 us-gaap Investments In Affiliates Subsidiaries Associates And Joint Ventures Fair Value Disclosure
InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVenturesFairValueDisclosure
952934000
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
188828000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
190619000
CY2024Q2 us-gaap Other Assets
OtherAssets
195958000
CY2023Q4 us-gaap Other Assets
OtherAssets
209969000
CY2024Q2 us-gaap Assets
Assets
11117805000
CY2023Q4 us-gaap Assets
Assets
11373242000
udr Same Store Communities
SameStoreCommunities
52545
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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0000074208-24-000060.txt Edgar Link pending
0000074208-24-000060-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
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report.css Edgar Link pending
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udr-20240630.xsd Edgar Link pending
udr-20240630x10q.htm Edgar Link pending
udr-20240630xex31d1.htm Edgar Link pending
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udr-20240630x10q_htm.xml Edgar Link completed
udr-20240630_lab.xml Edgar Link unprocessable
udr-20240630_pre.xml Edgar Link unprocessable
udr-20240630_cal.xml Edgar Link unprocessable
udr-20240630_def.xml Edgar Link unprocessable