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MARKETS / NYSE / Real estate / Real estate investment trusts / UDR
NYSE · REAL ESTATE INVESTMENT TRUSTS · LARGE CAP

Udr, Inc. UDR

18 fiscal years on record · USD · FY2025 reported · SEC filings only
13 YEARS OF DIVIDEND GROWTH
$1.7B
▲ 2.4% YoY
$377.7M
▲ 321.6% YoY
$859.2M
▲ 6.2% YoY

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

UDR is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities in targeted markets located in the United States. At December 31, 2025, our consolidated real estate portfolio consisted of 165 communities located in 21 markets, consisting of 55,240 completed apartment homes, which are held directly or through our subsidiaries, including the Operating Partnership and the DownREIT Partnership, and consolidated joint ventures. UDR was formed in 1972 as a Virginia corporation. In June 2003, we changed our state of incorporation from Virginia to Maryland. We report in two segments: Same-Store Communities and Non-Mature Communities/Other.

Written from the business description in UDR, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 17 February 2026. Every sentence was checked against that document before publication.

Growth

USD 1.7B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 1.7 · Net income 0.4
1B2B
2008201120142017202020232025
Compound annual growth
+4.1%
+6.6%
+7.0%
+8.2%
+63.2%
+42.5%
+1.0%
+63.2%
+41.4%
−1.3%
+4.2%
+3.6%
+4.5%
+12.3%
+10.3%
+9.2%
+12.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +6.6% a year over the five years to FY2025 — but profit grew faster: net income at +42.5%, earnings per share at +41.4%.

The share count rose from 0.30B to 0.33B over the period.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

24 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 32.3% · Net 23.6%
50%100%-10%-20%
200820162025
ROE
FY2025 · ROE 11.2%
20%40%-2%-4%-6%
200820162025
Three returns, three denominators.
Return on capital employedNot available: we don't have total assets or current liabilities for this period.
Gross margin78.9%
Operating margin32.3%
Net margin23.6%
EBITDAUSD 1.2B

Each USD of equity produced 11 cents of profit this year.

Cash & shareholders

USD 685.7M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 859.2
400M800M-300M-600M
200820162025
Net buybacks $M Dividends $M
FY2025 · Dividends 567.9 · Net buybacks 117.8
250.0M500.0M-250.0M-500.0MDividendsNet buybacks
2008201120142017202020232025
Dividends paidUSD 567.9M
Net buybacksUSD 117.8M
Share of profit181.5%
Consecutive raises13 years (since the 2012 share-count change)

USD 567.9M in dividends and USD 117.8M in buybacks — 182% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 10.6B
EquityUSD 3.3B
CashUSD 1.2M
Gross debtUSD 5.8B
Net debtUSD 5.8B

Net debt stands at 177% of equity.

The 18-year record

18 fiscal years
Every figure from documents filed with the SEC · USD

The share count changed between 2010 and 2012, but the exact year can't be marked here — the underlying count wasn't on file for every year in that stretch.

row low → row highnegative—not applicable◌not available in our data
UDR, 18-year financial record
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B1.71.71.61.51.31.21.21.01.01.00.90.80.80.70.60.50.60.6
Operating income $B0.60.30.60.30.30.20.20.40.20.40.20.10.10.10.0−0.1−0.1−0.1
EBITDA $B1.21.01.30.90.90.90.70.80.70.80.50.50.50.40.40.20.20.2
Income tax $B0.00.00.00.00.00.00.00.0−0.00.0−0.0−0.0−0.0−0.00.0−0.00.0◌
Net income $B0.40.10.40.10.20.10.20.20.10.30.30.20.00.20.0−0.1−0.10.7
Free cash flow $B0.90.80.70.60.50.50.60.40.30.50.50.40.30.30.20.20.2−0.8
EPS, diluted $1.130.261.340.260.480.200.630.740.441.081.290.590.160.850.05−0.68−0.645.29
Dividend / sh $1.721.701.681.521.451.441.371.291.241.181.111.040.940.880.800.730.852.29
Payout %1506231215562896532071692701068316651798751−117−16524
ROE %11.22.411.02.34.51.95.97.14.19.812.15.61.58.01.0−6.9−6.249.2
Shares out B0.330.330.330.330.320.300.290.280.270.270.260.260.250.250.220.180.16◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

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Provenance

Company facts, as filed

How we verify · 0 failures in 53 reconciliationsAUDITED

Reconciled in 18 of the 18 fiscal years we could check. Three checks were skipped: cost of revenue is not tagged before 2010. Two checks were skipped: the balance sheet is not tagged before 2009. One check was skipped: EPS is not tagged before 2008.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityReal Estate Investment Trusts
Listed onNYSE
Incorporated inMaryland
Fiscal year endsDecember 31
Data on record since2008

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