UDR said net income attributable to common stockholders for the 3-month period ended June 30, 2024 was $27.7 million ($0.08 per diluted share), down from $346.3 million ($1.05) a year earlier. The company said it recorded gains on sales of real estate of $325.9 million in Q2 2023 and no such gains in Q2 2024.

10-QQuarterly reportFiled Jul 31, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

UDR said net income attributable to common stockholders for the 3-month period ended June 30, 2024 was $27.7 million ($0.08 per diluted share), down from $346.3 million ($1.05) a year earlier. The company said it recorded gains on sales of real estate of $325.9 million in Q2 2023 and no such gains in Q2 2024.
The company said Same-Store NOI rose 2.0% ($5.4 million) in Q2 2024. Rental income increased 2.5% ($9.6 million) and operating expenses rose 3.7% ($4.3 million), while the operating margin was 69.2%, compared with 69.5% a year earlier.
The company said net cash provided by operating activities for the first 6 months of 2024 was $406.1 million, down from $410.0 million in the comparable period a year earlier. Net cash used in investing activities was $(79.3) million, compared with $(60.7) million a year earlier.
The company said secured debt of about $96.4 million and unsecured debt of $445.6 million mature during the remainder of 2024, including principal amortization. The company said it expects to repay the debt with operating cash flow, proceeds from debt or equity offerings, proceeds from property dispositions, or borrowings under its credit agreements and its unsecured commercial paper program.

Key figures

Quarter ended June 30, 2024

Revenue: $415M
Operating income: $69M
Net income: $29M
EPS: $0.08

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

UDR Net Income Attributable to Common Stockholders $27.7 million in Q2 2024

UDR said net income attributable to common stockholders for the 3-month period ended June 30, 2024 was $27.7 million ($0.08 per diluted share), down from $346.3 million ($1.05) a year earlier. The company said it recorded gains on sales of real estate of $325.9 million in Q2 2023 and no such gains in Q2 2024.

Source · Based on the MD&A text of the filing

Same-Store NOI Growth and Operating Margin

The company said Same-Store NOI rose 2.0% ($5.4 million) in Q2 2024. Rental income increased 2.5% ($9.6 million) and operating expenses rose 3.7% ($4.3 million), while the operating margin was 69.2%, compared with 69.5% a year earlier.

Source · Based on the MD&A text of the filing

Operating and Investing Cash Flows for 6 Months

The company said net cash provided by operating activities for the first 6 months of 2024 was $406.1 million, down from $410.0 million in the comparable period a year earlier. Net cash used in investing activities was $(79.3) million, compared with $(60.7) million a year earlier.

Source · Based on the MD&A text of the filing

Debt Maturing in the Remainder of 2024

The company said secured debt of about $96.4 million and unsecured debt of $445.6 million mature during the remainder of 2024, including principal amortization. The company said it expects to repay the debt with operating cash flow, proceeds from debt or equity offerings, proceeds from property dispositions, or borrowings under its credit agreements and its unsecured commercial paper program.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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