UDR

EX-99.1

2 udr-ex99d1.htm

EX-99.1

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Exhibit 99.1

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Press Release

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DENVER, CO – October 21, 2026

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Contact: Trent Trujillo

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Email: ttrujillo@udr.com

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UDR, INC. RAISES FULL-YEAR 2026 GUIDANCE RANGES

AND PROVIDES PRELIMINARY THIRD QUARTER 2026 RESULTS

UDR, Inc. (the “Company”) (NYSE: UDR), a leading multifamily real estate investment trust, announced today that it has raised its full-year 2026 guidance ranges for Net Income and Funds From Operations as Adjusted (“FFOA”) per diluted share, and provided preliminary results for the quarter ended September 30, 2026. This update is provided in conjunction with the Company’s separate announcement of the expected formation of a $2.0 billion strategic partnership with Apollo.

Preliminary Third Quarter 2026 Results and Outlook(1)

The Company expects Net Income per diluted share for the third quarter 2026 will be $0.67, which compares to the previously provided guidance range of $0.13 to $0.15 per diluted share. Furthermore, the Company expects FFOA per diluted share for the third quarter 2026 will be $0.65, which represents the high-end of the previously provided guidance range of $0.63 to $0.65 per diluted share. As shown in the table below, the Company has established guidance ranges for the fourth quarter 2026 and has raised its previously provided full-year 2026 guidance ranges for Net Income and FFOA per diluted share.

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Metric, per

diluted share

3Q 2026 Preliminary

YTD 2026 through 3Q 2026 Preliminary

4Q 2026

Outlook

Prior

Full-Year 2026 Outlook

Updated

Full-Year 2026 Outlook

Full-Year 2026 Midpoint (Change)

Net Income

$0.67

$1.45

$0.13 to $0.15

$1.03 to $1.11

$1.58 to $1.60

$1.59 (+$0.52)

FFO

$0.62

$1.85

$0.63 to $0.65

$2.47 to $2.55

$2.48 to $2.50

$2.49 (-$0.02)

FFOA

$0.65

$1.90

$0.63 to $0.65

$2.49 to $2.57

$2.54 to $2.56

$2.55 (+$0.02)

Year-Over-Year Same-Store (“SS”) Growth:

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Revenue

1.8%

1.6%

N/A

0.75% to 2.00%

1.4% to 1.8%

1.6% (+22.5bps)

Expense

2.2%

3.2%

N/A

2.75% to 3.75%

2.7% to 3.1%

2.9% (-35bps)

NOI

1.6%

0.8%

N/A

0.00% to 1.25%

0.8% to 1.2%

1.0% (+37.5bps)

(1)

All guidance is based on current expectations of future economic conditions and the judgment of the Company’s management team. A reconciliation of GAAP Net Income per diluted share to forecasted FFO and FFOA per diluted share for the fourth quarter and full-year 2026 can be found under “Reconciliation of Forecasted Net Income to FFO and FFO as Adjusted” in this release. Non-GAAP financial measures and other terms, as used in this release, are defined and further explained under “Definitions” in this release. Net Income, FFO and FFOA per share for all 2026 periods and guidance are unaffected by the Apollo transaction. SS growth metrics have been adjusted to exclude the 19 communities that comprise the joint venture with Apollo. Including these communities, SS Revenue, Expense, and NOI would be 1.5%, 2.7%, and 1.0% for 3Q 2026, 1.4%, 3.2%, and 0.5% for YTD 2026 through 3Q 2026, and 1.45%, 2.9%, and 0.75% for Full-Year 2026 Midpoint.

Operating Update

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SS Metric(1)

3Q 2026, preliminary

YTD 2026 through

3Q 2026 preliminary

Weighted Average Physical Occupancy

96.5%

96.6%

Effective Blended Lease Rate Growth

2.0%

2.2%

(1)

SS metrics have been adjusted to exclude the 19 communities that comprise the joint venture with Apollo. Including these communities, Weighted Average Physical Occupancy and Effective Blended Lease Rate Growth would be 96.6% and 1.7% for 3Q 2026 and 96.6% and 1.8% for YTD 2026 through 3Q 2026.

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Capital Allocation Activity

During the quarter the Company,

●Sold two apartment communities, one each in Seattle and Nashville, with a combined 412 apartment homes for gross proceeds of $183.0 million. The Company remains under contract to sell a 296-home apartment community in the Metropolitan Washington, D.C. area for gross proceeds totaling approximately $68.5 million.

●As part of the previously announced runoff of its Debt and Preferred Equity portfolio, acquired a 483-home apartment community in Inland Empire, CA, and, as previously reported, a 286-home in Portland, OR, both upon the liquidation of the Company’s interests in previous Debt and Preferred Equity joint ventures, for an incremental cash outlay of $235.0 million based on a combined property valuation of $354.4 million.

●Expanded its joint venture with LaSalle Investment Management to approximately $958.3 million by contributing a 360-home apartment community in Nashville, TN, to the venture. Under the terms of the transaction, the Company received approximately $103.2 million in cash proceeds.

●Received a full repayment of approximately $29.5 million on its Preferred Equity investment in a stabilized apartment community in Orlando.

Below is a summary of the Company’s preliminary results for the three and nine months ended September 30, 2026.

Reconciliation of N

EX-99.1

2 udr-20260727xex99d1.htm

EX-99.1

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Exhibit 99.1

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Press Release

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DENVER, CO – July 27, 2026

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Contact: Trent Trujillo

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Email: ttrujillo@udr.com

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UDR, INC. ANNOUNCES SECOND QUARTER 2026 RESULTS

AND RAISES FULL-YEAR 2026 GUIDANCE RANGES

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UDR, Inc. (the “Company”) (NYSE: UDR), announced today its second quarter 2026 results. Net Income, Funds from Operations (“FFO”), and FFO as Adjusted (“FFOA”) per diluted share for the quarter and year-to-date periods ended June 30, 2026, are detailed below.

Metric

Quarter Ended June 30

Year-to-Date Ended June 30

2026

2025

2026

2025

Net Income per diluted share

$0.21

$0.11

$0.79

$0.34

FFO per diluted share

$0.60

$0.61

$1.23

$1.19

FFOA per diluted share

$0.64

$0.64

$1.25

$1.25

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Same-Store (“SS”) results for the second quarter 2026 versus the second quarter 2025 and the first quarter 2026 as well as year-to-date 2026 versus year-to-date 2025 are summarized below.

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SS Growth / (Decline)

Year-Over-Year (“YOY”): 2Q 2026 vs. 2Q 2025

Sequential:

2Q 2026 vs. 1Q 2026

Year-to-Date (YTD) YOY:

2026 vs. 2025

Revenue

1.8%

1.4%

1.3%

Expense

2.6%

(3.9)%

3.5%

Net Operating Income (“NOI”)

1.4%

4.0%

0.3%

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“Leasing strength in 2026 is tracking ahead of our initial expectations, resulting in second quarter results that exceeded our prior guidance. As a result, we have raised our full-year guidance ranges for Same-Store growth and FFOA per diluted share,” said Tom Toomey, UDR’s Chairman, President, and CEO. “The resiliency of the economy, waning supply, and attractive relative affordability of apartments position UDR for continued success. Following 50+ years of dividend growth and stability totaling $9 billion of payments, we look forward to paying our first monthly dividend this week.”

Outlook(1)

As shown in the table below, the Company has established the following guidance ranges for the third quarter of 2026, raised its previously provided full-year 2026 guidance ranges for Net Income, FFOA per diluted share, and Same-Store Growth, and updated its previously provided full-year 2026 guidance range for FFO per diluted share.

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Metric, per diluted share

2Q 2026

Actual

YTD 2026

Actual

3Q 2026

Outlook

Prior

Full-Year 2026 Outlook

Updated

Full-Year 2026 Outlook

Full-Year 2026 Midpoint (Change)

Net Income

$0.21

$0.79

$0.13 to $0.15

$0.91 to $1.01

$1.03 to $1.11

$1.07 (+$0.11)

FFO

$0.60

$1.23

$0.63 to $0.65

$2.48 to $2.58

$2.47 to $2.55

$2.51 (-$0.02)

FFOA

$0.64

$1.25

$0.63 to $0.65

$2.47 to $2.57

$2.49 to $2.57

$2.53 (+$0.01)

YOY Growth:

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SS Revenue

1.8%

1.3%

N/A

0.25% to 2.25%

0.75% to 2.00%

1.375% (+12.5bps)

SS Expense

2.6%

3.5%

N/A

3.00% to 4.50%

2.75% to 3.75%

3.25% (-50bps)

SS NOI

1.4%

0.3%

N/A

(1.00)% to 1.25%

0.00% to 1.25%

0.625% (+50bps)

(1)

Additional assumptions for the Company’s third quarter and full-year 2026 outlook can be found on Attachment 13 of the Company’s related quarterly Supplemental Financial Information (“Supplement”). A reconciliation of GAAP Net Income per diluted share to FFO per diluted share and FFOA per diluted share can be found on Attachment 14(D) of the Company’s related quarterly Supplement. Non-GAAP financial measures and other terms, as used in this earnings release, are defined and further explained on Attachments 14(A) through 14(D), “Definitions and Reconciliations,” of the Company’s related quarterly Supplement.

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Capital Allocation Activity

Leveraging the Company’s collaborative and data-driven approach to capital allocation, during the quarter and subsequent to quarter-end, the Company,

●As previously reported, expanded its share repurchase program to approximately 30 million shares and repurchased approximately 5.5 million shares of its common stock at a weighted average share price of $36.49 for total consideration of approximately $200.3 million. Following this share repurchase activity, the Company has approximately 25.5 million shares remaining for repurchase under its program. Since recommencing share repurchases in September 2025, the Company has repurchased approximately 11.5 million shares of its common stock at a weighted average share price of $36.32 for total consideration of approximately $418.0 million.

●Sold a 206-apartment home community in Nashville, TN, that was originally constructed in 1977 for gross proceeds of $41.5 million. Additionally, the Company is under contract to sell three apartment communities with a combined 808 apartment homes for gross proceeds totaling approximately $252.5 million. These transactions are expected to close in the third and fourth quarters of 2026. Should these pending sales close as anticipated, the Company’s 2026 disposition activity would total approximately $656.0 million.

●Acquired three apartment home communities with a combined 584 apartment homes upon the liquidation

EX-99.1

2 udr-20260429xex99d1.htm

EX-99.1

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Exhibit 99.1

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Press Release

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DENVER, CO – April 29, 2026

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Contact: Trent Trujillo

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Email: ttrujillo@udr.com

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UDR, INC. ANNOUNCES FIRST QUARTER 2026 RESULTS

AND UPDATES FULL-YEAR 2026 GUIDANCE RANGES

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UDR, Inc. (the “Company”) (NYSE: UDR), announced today its first quarter 2026 results. Net Income, Funds from Operations (“FFO”), and FFO as Adjusted (“FFOA”) per diluted share for the quarter ended March 31, 2026, are detailed below.

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Quarter Ended March 31

Metric

1Q 2026 Actual

1Q 2026 Guidance

1Q 2025 Actual

$ Change vs. Prior Year Period

% Change vs. Prior Year Period

Net Income per diluted share

$0.57

$0.11 to $0.13

$0.23

$0.34

148%

FFO per diluted share

$0.63

$0.61 to $0.63

$0.58

$0.05

9%

FFOA per diluted share

$0.62

$0.61 to $0.63

$0.61

$0.01

2%

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Same-Store (“SS”) results for the first quarter 2026 versus the first quarter 2025 and the fourth quarter 2025 are summarized below.

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SS Growth / (Decline)

Year-Over-Year (“YOY”): 1Q 2026 vs. 1Q 2025

Sequential:

1Q 2026 vs. 4Q 2025

Revenue

0.9%

(0.4)%

Expense

4.4%

5.7%

Net Operating Income (“NOI”)

(0.8)%

(3.2)%

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During the first quarter, the Company,

●Completed the sales of four apartment communities with a combined 1,159 apartment homes for gross proceeds totaling $362.0 million.

●Received approximately $138.9 million in proceeds from the full repayment of two Debt and Preferred Equity investments.

●Repurchased approximately 2.8 million shares of its common stock at a weighted average share price of $36.27 for total consideration of approximately $100.0 million.

Subsequent to quarter-end, the Company,

●Repurchased approximately 1.4 million shares of its common stock at a weighted average share price of $35.01 for total consideration of approximately $50.0 million. Since recommencing share repurchases in September 2025, the Company has repurchased approximately $268.0 million of its common stock.

●Acquired a 232-apartment home community located in Portland, OR. This investment was previously recognized as part of the Company’s Debt and Preferred Equity program.

●Announced, concurrent with this earnings release, the commencement of a monthly common stock dividend, beginning with the dividend payable in July 2026.

●Earned the distinction of being named a Top Workplace by USA Today for the second consecutive year.

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“First quarter Same-Store and FFOA per diluted share results aligned with our expectations, and we adhered to our capital allocation heatmaps to create shareholder value by selling assets at compelling valuations and repurchasing our stock. In addition, I am excited to announce that UDR has become the first residential REIT to offer monthly dividends. This strategic pivot in dividend policy is consistent with our effort to expand access to capital. Our responsiveness to growing interest in monthly cash distributions is emblematic of UDR’s culture of innovation and long-term value creation,” said Tom Toomey, UDR’s Chairman, President, and CEO.

Outlook(1)

As shown in the table below, the Company has established the following guidance ranges for the second quarter of 2026 and has updated full-year 2026 guidance ranges.

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1Q 2026

Actual

2Q 2026

Outlook

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Prior

Full-Year 2026 Outlook

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Updated

Full-Year 2026 Outlook

Full-Year 2026 Midpoint (Change)

Net Income per diluted share

$0.57

$0.12 to $0.14

$0.45 to $0.55

$0.91 to $1.01

$0.96 (+$0.46)

FFO per diluted share

$0.63

$0.62 to $0.64

$2.47 to $2.57

$2.48 to $2.58

$2.53 (+$0.01)

FFOA per diluted share

$0.62

$0.62 to $0.64

$2.47 to $2.57

$2.47 to $2.57

$2.52 (unch)

YOY Growth:

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SS Revenue

0.9%

N/A

0.25% to 2.25%

0.25% to 2.25%

1.25% (unch)

SS Expense

4.4%

N/A

3.00% to 4.50%

3.00% to 4.50%

3.75% (unch)

SS NOI

(0.8)%

N/A

(1.00)% to 1.25%

(1.00)% to 1.25%

0.125% (unch)

(1)

Additional assumptions for the Company’s second quarter and full-year 2026 outlook can be found on Attachment 13 of the Company’s related quarterly Supplemental Financial Information (“Supplement”). A reconciliation of GAAP Net Income per diluted share to FFO per diluted share and FFOA per diluted share can be found on Attachment 14(D) of the Company’s related quarterly Supplement. Non-GAAP financial measures and other terms, as used in this earnings release, are defined and further explained on Attachments 14(A) through 14(D), “Definitions and Reconciliations,” of the Company’s related quarterly Supplement.

Operating Results

In the first quarter, total revenue increased by $3.9 million YOY, or 0.9 percent, to $425.8 million. This increase was primarily attributable to growth in revenue from Same-Store and acquired communities, partially offset by declines in revenue from property dispositions.

“2026 has started as expected, and our results align with guidance and our focus o