← Who reports today · Real Estate
How UDR, Inc. (UDR) makes money: Q2 2026 revenue breakdown
The quarter in brief
Revenue grew 0.0% y/y to $425M, operating margin 27.2% vs 18.2%, net income $69M (+83.2% y/y).
Key growth driver: Same-store revenue grew 1.8% on a straight-line basis and expenses 2.6%, so same-store NOI rose 1.4%. · by the Q2 2026 report
Net income attributable to UDR, Inc.
$69M
up 83.2% y/y
Total revenues
$425M
up 0.0% y/y
Operating income
$116M
up 49.7% y/y
Next report
not announced yet
How does UDR make money?
UDR brought in $425 million of revenue in Q2 2026, up 0.0% year over year. The largest source was Rental income: $423 million, or 100% of the total, followed by Joint venture management and other fees ($2.5M, 0.6%). Net income for the quarter was $69.0 million, up 83.2% year over year.
Revenue by source, Q2 2026
- Rental income$423M · 100% · −0.0%
- Joint venture management and other fees$2.5M · 0.6% · +2.8%
Shares of $425M total revenue; changes are year over year, as reported. ≈ marks lines derived from disclosed totals. The same flows are drawn in the Sankey chart below.
All figures in $M.
| Line item | Amount and change |
|---|---|
| Rental income | $423 · −0.0% |
| Joint venture management and other fees | $2.5 · +2.8% |
| Total revenues | $425 · +0.0% |
| Property operating and maintenance | $76.3 · +0.9% |
| Real estate taxes and insurance | $56.8 · −0.3% |
| Property management | $13.7 · −0.0% |
| Other operating expenses | $13 · +67.2% |
| Real estate depreciation and amortization | $160 · −1.9% |
| General and administrative | $18.7 · −6.1% |
| Casualty-related charges, net | $3.1 · −9.1% |
| Other depreciation and amortization | $3.5 · −53.3% |
| Gain on sale of real estate owned | $35.7 · vs $0 |
| Operating income | $116 · +49.7% · 27.2% margin |
| Income from unconsolidated entities | $3.3 · −9.9% |
| Interest expense | $47.6 · −2.1% |
| Interest income and other income, net | $2.6 · −68.1% |
| Income before income taxes | $74.1 · +83.0% |
| Tax provision, net | $0.4 · +66.3% · 0.6% effective rate |
| Noncontrolling interests in the OP and DownREIT Partnership | $4.6 · +80.8% |
| Net income attributable to UDR, Inc. | $69 · +83.2% · $0.21/sh · 16.2% margin |
Verdict: revenue grew 0.0% y/y to $425M, operating margin 27.2% vs 18.2%, net income $69M (+83.2% y/y).
Diluted EPS $0.21 vs $0.11 a year earlier; FFO $0.60 and FFO as Adjusted $0.64 per diluted share and unit (non-GAAP, company definitions); same-store physical occupancy 96.6%; quarterly dividend $0.435 per share.
Source and notation
Source: UDR earnings release, 8-K EX-99 of 07/27/2026 (SEC EDGAR). REIT layout: total revenues as reported; property expenses, depreciation, interest and other items lead to net income (a REIT pays little or no income tax). FFO is a non-GAAP measure: it appears only in the text, as defined by the company, never in the chart. The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match the company's 10-Q.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Net income nearly doubled thanks to a $35.7M gain on the sale of real estate; total revenues were flat at $425.4M.
- Same-store revenue grew 1.8% on a straight-line basis and expenses 2.6%, so same-store NOI rose 1.4%.
- Operating income was $116M, a 27.2% margin vs 18.2% a year earlier.
- The effective tax rate was 0.6% vs 0.6% a year earlier.
- Diluted EPS was $0.21 vs $0.11 a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
- Thomas W. ToomeyChairman of the Board, President and Chief Executive Officer [1]
- David D. BraggSenior Vice President and Chief Financial Officer [2]
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-07-28 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-07-28 · SEC EDGAR · 10/20/2026
UDR, Inc. — UDR Inc. is a publicly traded real estate investment trust that invests in apartments. · Text: Wikipedia, CC BY-SA 4.0, abridged
The company is organized in Maryland with its headquarters in Highlands Ranch, Colorado. As of December 31, 2024, the company owned interests in 169 apartment communities containing 55.696 apartment units in 21 markets in the United States.
Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $432M, EPS (GAAP) $0.12
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
UDR earnings history: past report dates
| Jul 27, 2026 Mon | 4:19 pmafter market close | Jun 30, 2026 | $425M+0% y/y | $0.21+91% y/y |
| Apr 29, 2026 Wed | 4:18 pmafter market close | Mar 31, 2026 | $426M+1% y/y | $0.57+148% y/y |
| Feb 9, 2026 Mon | 4:20 pmafter market close | Dec 31, 2025 | ≈$433M+2% y/y | ≈$0.67 |
| Oct 29, 2025 Wed | 4:19 pmafter market close | Sep 30, 2025 | $432M+3% y/y | $0.12+100% y/y |
| Jul 30, 2025 Wed | 4:19 pmafter market close | Jun 30, 2025 | $425M+2% y/y | $0.11+38% y/y |
| Apr 30, 2025 Wed | 4:19 pmafter market close | Mar 31, 2025 | $422M+2% y/y | $0.23+77% y/y |
| Feb 5, 2025 Wed | 4:20 pmafter market close | Dec 31, 2024 | ≈$423M+2% y/y | ≈−$0.01 |
| Oct 30, 2024 Wed | 4:22 pmafter market close | Sep 30, 2024 | $420M+2% y/y | $0.06−40% y/y |
| Jul 30, 2024 Tue | 4:18 pmafter market close | Jun 30, 2024 | $415M+3% y/y | $0.08−92% y/y |
| Apr 30, 2024 Tue | 4:18 pmafter market close | Mar 31, 2024 | $414M+4% y/y | $0.13+44% y/y |
| Feb 6, 2024 Tue | 4:18 pmafter market close | Dec 31, 2023 | ≈$413M+3% y/y | ≈$0.10−29% y/y |
| Oct 26, 2023 Thu | 4:18 pmafter market close | Sep 30, 2023 | $410M+5% y/y | $0.10+43% y/y |
| Jul 26, 2023 Wed | 4:19 pmafter market close | Jun 30, 2023 | $405M+10% y/y | $1.05 |
| Apr 26, 2023 Wed | 4:23 pmafter market close | Mar 31, 2023 | $400M+12% y/y | $0.09+125% y/y |
| Feb 6, 2023 Mon | 4:20 pmafter market close | Dec 31, 2022 | ≈$400M+15% y/y | ≈$0.14−63% y/y |
| Oct 26, 2022 Wed | 4:22 pmafter market close | Sep 30, 2022 | $391M+19% y/y | $0.07+17% y/y |
| Jul 26, 2022 Tue | 4:22 pmafter market close | Jun 30, 2022 | $369M+19% y/y | $0.01−75% y/y |
| Apr 26, 2022 Tue | 4:23 pmafter market close | Mar 31, 2022 | $357M+19% y/y | $0.04+300% y/y |
| Feb 8, 2022 Tue | 4:21 pmafter market close | Dec 31, 2021 | ≈$348M+15% y/y | ≈$0.38+375% y/y |
| Oct 26, 2021 Tue | 4:22 pmafter market close | Sep 30, 2021 | $330M+6% y/y | $0.06 |
| Jul 28, 2021 Wed | 4:23 pmafter market close | Jun 30, 2021 | $311M+1% y/y | $0.04−79% y/y |
| Apr 27, 2021 Tue | 4:22 pmafter market close | Mar 31, 2021 | $301M−6% y/y | $0.01+0% y/y |
| Feb 9, 2021 Tue | 4:22 pmafter market close | Dec 31, 2020 | ≈$302M−1% y/y | ≈$0.08−76% y/y |
| Oct 29, 2020 Thu | 4:22 pmafter market close | Sep 30, 2020 | $310M+5% y/y | −$0.09 |
| Jul 28, 2020 Tue | 4:26 pmafter market close | Jun 30, 2020 | $307M+9% y/y | $0.19+58% y/y |
| May 6, 2020 Wed | 4:37 pmafter market close | Mar 31, 2020 | $321M+19% y/y | $0.01−88% y/y |
| Feb 11, 2020 Tue | 4:19 pmafter market close | Dec 31, 2019 | ≈$305M+14% y/y | ≈$0.33+10% y/y |
| Oct 29, 2019 Tue | 5:00 pmafter market close | Sep 30, 2019 | $295M+11% y/y | $0.09+29% y/y |
| Jul 30, 2019 Tue | 4:22 pmafter market close | Jun 30, 2019 | $281M+8% y/y | $0.12+71% y/y |
| Apr 30, 2019 Tue | 4:25 pmafter market close | Mar 31, 2019 | $271M+7% y/y | $0.08−73% y/y |
| Feb 12, 2019 Tue | 4:20 pmafter market close | Dec 31, 2018 | ≈$268M+6% y/y | ≈$0.30+20% y/y |
| Oct 29, 2018 Mon | 4:20 pmafter market close | Sep 30, 2018 | $266M+6% y/y | $0.07+17% y/y |
| Jul 30, 2018 Mon | 4:18 pmafter market close | Jun 30, 2018 | $260M+5% y/y | $0.07+133% y/y |
| Apr 25, 2018 Wed | 4:17 pmafter market close | Mar 31, 2018 | $253M+4% y/y | $0.30+233% y/y |
| Feb 6, 2018 Tue | 4:17 pmafter market close | Dec 31, 2017 | ≈$253M+4% y/y | ≈$0.25−72% y/y |
| Oct 30, 2017 Mon | 4:17 pmafter market close | Sep 30, 2017 | $251M+3% y/y | $0.06−40% y/y |
| Jul 26, 2017 Wed | 4:21 pmafter market close | Jun 30, 2017 | $248M+4% y/y | $0.03−50% y/y |
| Apr 24, 2017 Mon | 4:19 pmafter market close | Mar 31, 2017 | $244M+4% y/y | $0.09+125% y/y |
| Jan 30, 2017 Mon | 4:20 pmafter market close | Dec 31, 2016 | ≈$243M+13% y/y | ≈$0.88+44% y/y |
| Oct 25, 2016 Tue | 4:18 pmafter market close | Sep 30, 2016 | $243M+10% y/y | $0.10+100% y/y |
| Jul 26, 2016 Tue | 4:19 pmafter market close | Jun 30, 2016 | $239M+11% y/y | $0.06−82% y/y |
| Apr 25, 2016 Mon | 4:23 pmafter market close | Mar 31, 2016 | $235M+7% y/y | $0.04−86% y/y |
| Feb 2, 2016 Tue | 4:27 pmafter market close | Dec 31, 2015 | ≈$215M+3% y/y | ≈$0.61+144% y/y |
| Oct 26, 2015 Mon | 4:19 pmafter market close | Sep 30, 2015 | $221M+7% y/y | $0.05−69% y/y |
| Jul 27, 2015 Mon | 4:07 pmafter market close | Jun 30, 2015 | $216M+6% y/y | $0.33+175% y/y |
| Apr 27, 2015 Mon | 4:50 pmafter market close | Mar 31, 2015 | $220M+11% y/y | $0.28+300% y/y |
| Feb 2, 2015 Mon | 4:10 pmafter market close | Dec 31, 2014 | ≈$210M+8% y/y | ≈$0.25+79% y/y |
| Oct 28, 2014 Tue | 4:10 pmafter market close | Sep 30, 2014 | $207M+8% y/y | $0.16 |
| Jul 29, 2014 Tue | 8:05 ambefore market open | Jun 30, 2014 | $204M+7% y/y | $0.12+500% y/y |
| Apr 29, 2014 Tue | 8:02 ambefore market open | Mar 31, 2014 | $198M+7% y/y | $0.07 |
| Feb 4, 2014 Tue | 8:02 ambefore market open | Dec 31, 2013 | ≈$193M+10% y/y | ≈$0.14 |
| Oct 29, 2013 Tue | 8:05 ambefore market open | Sep 30, 2013 | $191M+3% y/y | $0.01 |
| Jul 30, 2013 Tue | 8:02 ambefore market open | Jun 30, 2013 | $190M+5% y/y | $0.02−97% y/y |
| Apr 30, 2013 Tue | 8:02 ambefore market open | Mar 31, 2013 | $185M+6% y/y | $0.00 |
| Feb 5, 2013 Tue | 8:06 ambefore market open | Dec 31, 2012 | ≈$176M+11% y/y | ≈−$0.07 |
| Oct 29, 2012 Mon | 8:08 ambefore market open | Sep 30, 2012 | $185M+9% y/y | −$0.04+43% y/y |
| Jul 30, 2012 Mon | 9:09 ambefore market open | Jun 30, 2012 | $180M+17% y/y | $0.62+933% y/y |
| Apr 30, 2012 Mon | 8:14 ambefore market open | Mar 31, 2012 | $175M+23% y/y | $0.37 |
| Feb 6, 2012 Mon | 10:27 amduring market hours | Dec 31, 2011 | ≈$158M | ≈$0.20 |
| Oct 31, 2011 Mon | 8:12 ambefore market open | Sep 30, 2011 | $169M | −$0.07 |
Show all 60 reports since 2011Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
UDR, Inc.: 15-year financials
| 2025 | 1,712 | 554 | 378 | — | 568 |
| 2024 | 1,672 | 285 | 89.6 | — | 559 |
| 2023 | 1,628 | 635 | 444 | — | 540 |
| 2022 | 1,517 | 251 | 86.9 | — | 484 |
| 2021 | 1,291 | 268 | 150 | — | 434 |
| 2020 | 1,241 | 249 | 64.3 | — | 419 |
| 2019 | 1,152 | 221 | 185 | — | 383 |
| 2018 | 1,047 | 355 | 203 | 556 | 342 |
| 2017 | 996 | 228 | 122 | 518 | 328 |
| 2016 | 960 | 401 | 293 | 532 | 309 |
| 2015 | 872 | 160 | 340 | 455 | 283 |
| 2014 | 818 | 127 | 154 | 392 | 256 |
| 2013 | 759 | 117 | 44.8 | 332 | 232 |
| 2012 | 717 | 67.3 | 212 | 319 | 208 |
| 2011 | 623 | 22.4 | 20 | 238 | 150 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Mar 31, 2026: $3.3B (32% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies with revenue growth 10 years in a row · S&P 500 companies that paid dividends 10 years without a gap
UDR, Inc. (UDR) earnings: FAQ
How does UDR make money?
UDR brought in $425 million of revenue in Q2 2026, up 0.0% year over year. The largest source was Rental income: $423 million, or 100% of the total, followed by Joint venture management and other fees ($2.5M, 0.6%). Net income for the quarter was $69.0 million, up 83.2% year over year.
When is UDR's next earnings date?
We have not yet seen an announcement of the date from UDR, Inc. (UDR). Based on last year's report on Oct 29, 2025, the next report is expected around Oct 28, 2026.
What time does UDR report earnings?
UDR, Inc. usually reports after market close: its latest results release was filed with the SEC at 4:19 pm ET on Jul 27, 2026.
When did UDR last report earnings?
UDR, Inc. reported Q2 2026 results on Jul 27, 2026.
Where can I find UDR, Inc.'s financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to UDR's filings; this page breaks the latest report down in a Sankey chart.
What was UDR's net income in Q2 2026?
UDR, Inc. reported net income of $69M for Q2 2026 (+83.2% year over year), under US GAAP.
Does UDR, Inc. pay dividends?
Yes. In 2025, UDR, Inc. paid $568M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has UDR, Inc.'s revenue changed since 2011?
Per its 10-K filings, revenue grew 2.7x: $623M in 2011 and $1,712M in 2025. The latest year is the highest in the table. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
More reports: VICI · Q2 2026 · VMRK · Q2 2026 · VTR · Q2 2026 · WELL · Q2 2026 · WY · Q2 2026 · AMT · Q2 2026 · ARE · Q2 2026 · BXP · Q2 2026 · CBRE · Q2 2026 · CCI · Q2 2026 · all reports