UDR, Inc.

UDR, Inc. is a self-administered real estate investment trust that owns, operates, acquires, develops, redevelops, and manages multifamily apartment communities in targeted U.S. markets. The company conducts its business primarily through the Operating Partnership and joint ventures, with a portfolio of apartment homes held directly and through consolidated and unconsolidated entities.

72,0 %

22,1 %

+2,4 %

— UDR, Inc.
%
Same-Store Communities85% Stabilized apartment communities held and operated as part of the core portfolio.
Non-Mature Communities/Other15% Recently acquired, developed, redeveloped, and mixed-use non-apartment assets.

UDR's customers are residential renters in apartment communities across targeted U.S. markets...

  • Apartment residentsprimary

    Households and individuals leasing units in UDR's communities for long-term rental housing.

  • Residents in stabilized communitiesprimary

    Tenants in same-store assets that form the core operating base and recurring rent stream.

  • Residents in non-mature communitiessecondary

    Tenants in newly acquired, developed, or redeveloped properties that are still stabilizing.

  • Joint venture partnerssecondary

    Capital partners in unconsolidated ventures that share ownership of apartment homes.

UDR operates apartment communities in targeted markets located in the United States. Its portfolio spans 21 markets,...

  • •Operations are concentrated in targeted U.S. apartment markets
  • •Portfolio spans 21 markets across the United States
  • •Corporate offices are in Highlands Ranch, Colorado
  • •Property performance depends on local housing demand and supply
  • •Joint ventures extend exposure beyond wholly owned assets

UDR's strategy centers on maximizing the economic returns of its apartment communities in a sustainable manner...

01
Optimize same-store apartment performanceshort-term

Stabilized communities provide the core recurring operating base.

02
Redevelop and develop selected communitiesmedium-term

Newer and improved assets can enhance long-term portfolio quality.

03
Allocate capital through acquisitions and dispositionsmedium-term

Portfolio turnover helps concentrate capital in targeted markets and asset types.

UDR's business is exposed to apartment market cycles, including changes in occupancy, rent levels, and local...

high

Local apartment market cyclicality

Rental demand and pricing depend on employment, household formation, and supply in each market.

Scope
Targeted U.S. markets
Materiality
high
high

Development and redevelopment execution

New projects and repositionings require capital, timing discipline, and lease-up success.

Scope
Non-Mature Communities/Other
Materiality
high
high

Interest rate and refinancing risk

A REIT with debt financing is sensitive to borrowing costs and access to capital.

Scope
Medium-term notes and other debt
Materiality
high
medium

Cybersecurity and IT system failures

Breaches or outages can disrupt operations, damage reputation, and create liability.

Scope
Internal systems and third-party vendors
Materiality
medium
medium

State and local tax changes

REITs are exposed to local property and other non-federal taxes across markets.

Scope
States and local jurisdictions with apartment communities
Materiality
medium
Real estate investment properties
Operating income and asset carrying values
Capital expenditures
Expense recognition versus capitalization
Revenue recognition
Quarterly revenue and occupancy trends
Consolidation and noncontrolling interests
Balance sheet, debt presentation, and net income attribution

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: 11/08/2026