UDR said net income attributable to common stockholders for the 3 months ended March 31, 2025 was $75.5 million ($0.23 per diluted share), up from $41.9 million ($0.13 per diluted share) in the comparable period of the prior year. The company cited gains on the sale of real estate of $47.9 million as one of the factors for the increase.

1. 01

   UDR said net income attributable to common stockholders for the 3 months ended March 31, 2025 was $75.5 million ($0.23 per diluted share), up from $41.9 million ($0.13 per diluted share) in the comparable period of the prior year. The company cited gains on the sale of real estate of $47.9 million as one of the factors for the increase.

2. 02

   UDR said Same-Store NOI increased 2.8%, or $7.4 million, for Q1 2025. Rental income rose 2.6%, or $10.3 million, while operating expenses increased 2.3%, or $2.9 million, and weighted average physical occupancy increased 0.2% to 97.2%.

3. 03

   UDR said it sold 2 operating communities located in Brooklyn, New York and Englewood, New Jersey with a total of 373 apartment homes for gross proceeds of $211.5 million in January 2025, resulting in gains of approximately $47.9 million. The company said there were no acquisitions during the quarter.

4. 04

   UDR said net cash provided by operating activities for Q1 2025 was $156.2 million, down from $167.6 million in the comparable period of the prior year. As of March 31, 2025, the company had issued $250.0 million of commercial paper, leaving $450.0 million of unused capacity out of a maximum of $700.0 million.

Key figures

Quarter ended March 31, 2025

Revenue

$422M

Operating income

$122M

Net income

$77M

EPS

$0.23

Operating cash flow

$156M

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.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.