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United Dominion Realty Trust, Inc.

UDR

Real Estate Reit Residential

United Dominion Realty Trust, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.7 billion, up 2.42% from fiscal 2024.

Revenue
−0.88%
EPS
+500.1%
Free cash flow
−180.4%
Total debt
−1.33%

Quarter to September 2026, against a year earlier

36.58 0.43 −1.16%
Market cap
$11.6B
P/E
16.8×
Fwd P/E
31.0×
Dividend yield
3.95%
F-score
5/9
ROIC
6.82%
Net debt / EBITDA
4.0×
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Insider Decisions last twelve months

Net sold
$3.5M
Trades
2 sells · 0 buys
Ownership
1.83%

Capital & Financial Ratios $m

Size
Market Cap 11,590
Revenue ttm 1,712
Net income ttm 746
Free cash flow ttm 67
Net debt Q 5,060
Valuation
P/E 16.8
Forward P/E 31.0
Price / sales 6.8
Forward P/S Powerpack
Price / FCF 176.0
Price / book 3.8
Financial health
Current ratio Q 3.4
Debt / equity Q 1.8
Interest coverage Q 5.6
Growth
Revenue growth Q −0.9% (below 0%: shrinking)
Operating income growth Q +253.9% (above 0%: growing)
EPS, this year −4.3% (below 0%: weak)
EPS, next year A −47.6% (below 0%: weak)
Revenue, next year A −1.1% (below 0%: weak)
EPS, past 5 yrs +41.4% (at or above 15%: strong)
EPS, next 5 yrs A −16.8% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.8×, against a ten-year median of 12.6×; over the ten years it ranged from 9.2× in 2026 to 17.6× in 2022.
P/E against its own 10 years 0.95%
10-year low 10-year high
P/S against its own 10 years 4.40%
10-year low 10-year high
P/B against its own 10 years 57.99%
10-year low 10-year high
EV/Sales against its own 10 years 4.88%
10-year low 10-year high
EV/FCF against its own 10 years 74.17%
10-year low 10-year high

Dividends raised 2 years running

Yield
3.95%
Annual rate
1.45
Payout ratio
66.8%
Growth, 2018–26
+3.90%/yr
  1. 1.28 ’18
  2. 1.35 ’19 +6
  3. 1.42 ’20 +5
  4. 1.45 ’21 +2
  5. 1.88 ’22 +30
  6. 2.06 ’23 +9
  7. 1.70 ’24 −18
  8. 1.72 ’25 +1
  9. 1.74 ’26 +1
paid change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 988 953 923 696
Receivables — — — —
Inventory — — — —
Other — — — —
1,217 1,201 1,073 787
2023 2024 2025 Q'26
Payables 141 115 142 135
ST’ Debt — — — —
Other — — — —
236 214 239 229

Compound Annual Growth %

10y 5y 3y
Sales 6.71% 6.65% 4.11%
Cash Flow 7.01% 8.36% 3.26%
Earnings 1.03% 44.09% 65.33%
Book Value 1.26% 0.18% (7.07%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.64 Actual 0.65

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.64 0.64 Met by 0.00
Q1 FY26 0.62 0.62 Met by 0.00
Q2 FY26 0.63 0.64 Beat by 0.01
Q3 FY26 0.64 0.65 Beat by 0.01
Q4 FY26 0.64 — Reports 8 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.57 0.21 0.71 — —
’25 0.23 0.11 0.12 0.67 1.13
’24 0.13 0.08 0.06 (0.02) 0.26
’23 0.09 1.05 0.10 0.10 1.34
’22 0.04 0.01 0.07 0.13 0.26
’21 0.01 0.04 0.06 0.37 0.48
’20 0.01 0.19 (0.09) 0.09 0.20
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 426 425 428 — —
’25 422 425 432 433 1,712
’24 414 415 420 423 1,672
’23 400 405 410 413 1,628
’22 357 369 391 400 1,517
’21 301 311 330 348 1,291
’20 321 307 310 302 1,241
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 129 262 202 — —
’25 156 250 235 261 903
’24 168 238 230 241 877
’23 168 242 204 219 833
’22 161 237 205 217 820
’21 124 207 153 181 664
’20 135 182 140 148 604
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 55 118 (125) — —
’25 86 164 156 18 423
’24 80 144 144 170 538
’23 67 107 67 106 347
’22 60 (209) 94 100 45
’21 36 (149) (550) (262) (925)
’20 (65) 106 54 (193) (99)
Fiscal quarters ending in the months shown.

Valuation

The price implies FFO a share growing 1.8% a year for ten years. It grew 11.6% a year over the last ten.

Implied
1.8%
10 years, reported
11.6%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 960 996 1,047 1,152 1,241 1,291 1,517 1,628 1,672 1,712 1,712 +6.6% 1,694 1,729 1,811 +1.9%
Gross margin, % 67.80 67.67 67.18 67.32 64.49 62.99 64.50 64.44 63.56 63.51 62.53 (4.3) pt
EBT 332 132 222 203 72 162 93 477 97 405 747 +2.2%
EBT margin, % 34.58 13.30 21.23 17.65 5.76 12.58 6.12 29.28 5.79 23.63 43.63 (10.9) pt
Net income 320 133 222 200 69 161 93 474 96 404 746 +2.6%
Per share, $
Per share, $ Revenue 3.62 3.73 3.90 4.04 4.21 4.30 4.72 4.95 5.08 5.18 5.34 +4.1%
Earnings 1.09 0.44 0.74 0.63 0.20 0.49 0.26 1.34 0.26 1.13 2.18 +0.4%
Cash flow 2.02 1.94 2.09 2.21 2.05 2.21 2.55 2.53 2.66 2.73 2.66 +3.4%
Capex (1.65) (1.77) (1.00) (5.54) (2.39) (5.29) (2.41) (1.48) (1.03) (1.45) (2.46) (1.4%)
Free cash flow 0.37 0.18 1.09 (3.33) (0.34) (3.08) 0.14 1.05 1.63 1.28 0.21 +14.7%
Book value 11.67 10.62 10.90 11.88 11.06 11.57 12.74 12.14 10.46 9.96 9.76 (1.7%)
Shares, m 265 267 268 285 295 300 322 329 329 330 325 +2.5%
Valuation, ×
Valuation, × P/E 32.98 86.50 53.54 75.32 192.15 122.43 154.36 28.84 173.64 32.46 16.78 95.2
P/S 9.94 10.21 10.15 11.56 9.12 13.96 8.18 7.81 8.55 7.08 6.85 9.7
P/B 3.13 3.64 3.69 3.98 3.52 5.25 3.06 3.22 4.20 3.73 3.80 3.7
EV/Sales 12.60 13.15 12.59 15.11 12.63 17.59 11.28 10.76 11.47 9.94 9.80 12.7
EV/FCF 122.03 275.82 44.96 (18.33) (158.51) (24.54) 381.31 50.53 35.65 40.22 251.90 74.9
Cash, $m
Cash, $m Operating cash flow 537 519 561 631 604 664 820 833 877 903 854 +6.0%
Capex (437) (471) (267) (1,581) (703) (1,589) (775) (486) (339) (480) (787) +1.0%
Free cash flow 99 47 293 (950) (99) (925) 45 347 538 423 67 +17.5%
Balance, $m
Balance, $m Working capital 718 607 896 611 597 542 602 980 987 834 558 +1.7%
Net debt 2,552 2,929 2,558 4,086 4,352 4,682 4,703 4,811 4,874 4,898 5,060 +7.5%
Shareholders’ equity 3,097 2,835 2,923 3,389 3,259 3,474 4,098 3,991 3,444 3,289 3,129 +0.7%
Returns, %
Returns, % ROA 3.77 1.53 2.58 2.09 0.62 1.43 0.76 3.92 0.76 3.47 6.63 (0.3) pt
ROIC 4.43 2.47 4.05 1.85 2.05 2.05 1.78 4.51 2.14 4.23 6.82 (0.2) pt
ROE 9.79 4.04 7.03 5.82 1.83 4.39 2.21 10.99 2.31 11.22 21.94 +1.4 pt
People
People Employees 1,587 1,542 1,431 1,351 1,271 1,219 1,326 1,410 1,432 1,426 — (1.2%)
Revenue/emp, $m 0.60 0.65 0.73 0.85 0.98 1.06 1.14 1.15 1.17 1.20 — +7.9%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

UDR is a real estate investment trust, or REIT, that owns and manages apartment communities in the United States. It rents apartment homes to residents and also buys, renovates, develops and sells communities. Its portfolio includes properties it owns directly and interests held through partnerships and joint ventures.

At December 31, 2025, UDR’s consolidated portfolio comprised 165 communities in 21 markets, with 55,240 completed apartment homes. It also held interests in 12,167 completed or to-be-completed homes through unconsolidated joint ventures or partnerships, including homes owned by entities in which UDR held preferred equity investments.

United Dominion Realty Trust, Inc. vs peers in Reit Residential (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
ESS Essex Property Trust, Inc. $18.1B 49.6× 48.2× +4.10% (above 0%: growing) −36.97% (below 0%: shrinking) −5.14% (below 0%: shrinking) 66.94% 31.82% Compare
INVH Invitation Home $15.6B 23.8× 26.7× +6.26% (above 0%: growing) +22.91% (above 0%: growing) +239.04% (above 0%: growing) 54.14% 21.76% Compare
SUI Sun Communities, Inc. $14.4B — (loss-making) — (loss-making) +12.56% (above 0%: growing) +1,411.29% (above 0%: growing) +42.90% (above 0%: growing) 63.45% 28.16% Compare
MAA Mid-America Apartment Communities, Inc. $14.1B 35.8× 32.6× +1.04% (above 0%: growing) −11.86% (below 0%: shrinking) +81.71% (above 0%: growing) 57.07% 24.91% Compare
CPT Camden Property Trust $13.5B 9.2× 60.8× −3.69% (below 0%: shrinking) +779.00% (above 0%: growing) −36.56% (below 0%: shrinking) 63.05% 0.00% Compare
ELS Equity Lifestyle Properties, Inc. $12.7B 31.0× 30.7× +4.22% (above 0%: growing) −10.00% (below 0%: shrinking) +33.46% (above 0%: growing) 52.10% 33.35% Compare
AMH American Homes 4 Rent $11.8B 26.0× 33.7× +4.10% (above 0%: growing) +0.22% (above 0%: growing) −25.98% (below 0%: shrinking) 55.72% 25.15% Compare
UDR United Dominion Realty Trust, Inc. $11.6B 16.8× 31.0× −0.88% (below 0%: shrinking) +500.08% (above 0%: growing) −180.36% (below 0%: shrinking) 62.20% 63.12%
JAN Janus Living, Inc. $9.9B — (loss-making) 118× +78.32% (above 0%: growing) n/m +592.48% (above 0%: growing) 27.91% (4.66%) Compare
Median of peers $13.8B 28.5× 33.7× +4.16% +0.22% +38.18% 56.40% 25.03%

All 20 Reit Residential stocks →

From the latest earnings call

Updated

  • Chief Financial Officer David Dooley Bragg said UDR closed its Apollo joint venture, received $1.34 billion for a two-thirds interest and planned to continue managing the apartments for a fee.
  • Chief Operating Officer Michael D. Lacy said UDR expected fourth-quarter blended lease growth of 1.5% to 2%, supported by higher market rents and fewer lease expirations.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 105.08%
Held by the ten largest 67.13%
Holder Shares Stake Change
Vanguard 48.72m 15.17% −931.24k
BlackRock 31.25m 9.73% −4.93m
Norges Bank 29.45m 9.17% +29.45m
Capital Group 25.57m 7.96% −59.78k
State Street 19.39m 6.03% −2.17m
COHEN & STEERS, INC. 15.42m 4.80% −5.35m
Fidelity (FMR) 14.09m 4.38% +384.03k
Invesco 13.86m 4.31% +160.21k
CENTERSQUARE INVESTMENT MANAGEMENT LLC 9.22m 2.87% +851.59k
Geode Capital Management 8.69m 2.70% −66.87k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 2 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 9.93m 3.58m 115.44
2024 10.18m 15.84m 130.75
2023 11.76m 6.21m 110.56
2022 8.15m (11.88m) 107.28
2021 14.23m 48.50m 161.10

Ownership

Directors and executive officers, together 1.82%
The Vanguard Group 15.43%
BlackRock, Inc. 10.53%
Norges Bank 8.45%
Cohen & Steers, Inc. 8.21%
State Street Corporation 6.85%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

United Dominion Realty Trust, Inc. (UDR) Latest News

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · MarketBeat

3 Nov

Impact 4 · · Moby
Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · Zacks

2 Nov

Impact 3 · · Business Wire

29 Oct

Impact 3 · · Zacks

25 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.

22 Oct

Impact 4 · · Simply Wall St.
Impact 3 · · Barchart

21 Oct

Impact 4 · · credaily.com
Impact 4 · · Business Wire
Impact 4 · · Business Wire

14 Oct

Impact 4 · · Business Wire

24 Sep

Impact 3 · · Barchart

22 Sep

Impact 3 · · Insider Monkey

30 Jul

Impact 3 ·

28 Jul

Impact 4 ·
Impact 4 ·
Impact 3 · · MarketBeat

27 Jul

Impact 4 ·
Impact 3 ·
Impact 3 ·

2 Jun

Impact 3 · · Simply Wall St.

4 May

Impact 4 · · Business Wire
Impact 4 · · multifamilydive.com
Impact 4 · · Simply Wall St.

2 May

Impact 4 · · MarketBeat

UDR metrics, ten years each

stockrow.com/UDR · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com