UDR Lifts 2026 FFOA Outlook to $2.54-$2.56 After Q3 Beat, Closes $2B Apollo JV
UDR is trading near its 52-week low of $32.94 (9.0% above the low).
Summary
UDR posted third-quarter net income of $0.67 per diluted share versus $0.12 a year ago, on revenue of $428.1 million and net income of $216.1 million, with FFOA of $0.65 per share matching last year and coming in above the company's own expectations. Management raised full-year 2026 FFOA guidance to $2.54-$2.56 from $2.49-$2.57 and lifted same-store NOI growth to 0.8%-1.2%, the second raise this year; its updated full-year 2026 FFO guidance is $2.48-$2.50 per share, and net income guidance is $1.58-$1.60 per share. The $2.0 billion Apollo joint venture has closed: UDR contributed 19 communities (7,059 homes) at roughly a 6.0% cap rate, pulled in $1.34 billion of equity, kept about a one-third interest, and will earn asset management fees. Same-store revenue grew 1.8% year over year while expenses rose 2.2%, leaving NOI up 1.6% and occupancy at 96.5%. Buybacks remain aggressive — 5.2 million shares repurchased for about $185.1 million at a $35.48 average through October, with 20.3 million shares left on the authorization. The earnings call is November 3 at noon ET.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — UDR's updated full-year 2026 FFO guidance is $2.48-$2.50 per share, and net income guidance is $1.58-$1.60 per share.
At the time of this announcement, UDR was trading at $35.91 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $11.5B. The 52-week trading range was $32.94 to $42.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.