UDR Lifts 2026 Outlook as Preliminary Q3 Net Income Smashes Guidance
UDR is trading near its 52-week low of $32.94 (5.3% above the low).
Summary
UDR narrowed its full-year 2026 FFOA guidance to $2.48-$2.50 per share, and hiked net income guidance to $1.58-$1.60 from $1.03-$1.11. Preliminary Q3 net income came in at $0.67 per share versus prior guidance of $0.13-$0.15, driven largely by $190M of gains on property sales, while Q3 FFOA of $0.65 hit the high end of the range. Same-store revenue growth guidance rose to 1.4%-1.8% and NOI growth to 0.8%-1.2%, with Q3 occupancy at 96.5% and blended lease rate growth of 2.0%. The release accompanies the separately announced $2.0B Apollo joint venture, in which UDR keeps a one-third stake, and the 19 communities going into that JV are excluded from same-store metrics. Final Q3 results land November 2 with the call on November 3.
At the time of this announcement, UDR was trading at $34.70 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $11.1B. The 52-week trading range was $32.94 to $42.00. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: BusinessWire.