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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
$12.5B
P/E
16.9×
Fwd P/E
30.1×
Dividend yield
3.91%
F-score
5/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
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United Dominion Realty Trust, Inc. (UDR) valuation and DCF model

What the price implies · reverse DCF

At $36.58 the price implies FFO a share growing 1.8% a year for ten years.

FFO a share grew 11.6% a year over the last ten years, 5.2% over the last five. The price asks for less than its ten-year rate. The industry’s median company is priced for 3.5%.

In December 2017 the price assumed 5.8% a year; United Dominion Realty Trust, Inc. went on to grow FFO a share 3.2% a year to FY2025.

Q3 2026’s FFO a share is the $0.62 United Dominion Realty Trust, Inc. reported, in its results release. Ours, from its filings, came out 5.5% lower. It reported AFFO of $0.65 a share for Q3 2026.

Price implies
1.8%
Last 5 years, reported
5.2%
Last 10 years, reported
11.6%
Industry median implies
3.5%

The headline discounts the last twelve months’ FFO a share at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
1.8% a year for ten years
$36.58
today’s price
Its base case
11.6% a year for five years, then 7.0%
$65.79
79.9% above today’s price

Both are growth in FFO a share, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record United Dominion Realty Trust, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · FFO a share
the four quarters to September 2026, from the 10-Q and 10-K filings

Yearly growth in FFO a share. It usually slows as the company matures.

Today’s price implies FFO a share growing 1.8% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

The model is a share’s own: no debt to take off and no shares to divide among.

Advanced inputs

Against United Dominion Realty Trust, Inc.’s own cost of capital: risk-free 4.3% + beta 0.70 × equity premium 4.5% = 7.4% cost of equity; weighted, 7.4%.

Use 7.4%
Base case value per share $65.79 ten years discounted, and what follows
Current price $36.58 market price per share
Above today’s price 79.9% upside at the base case’s assumptions

How we got there$26.19 10 years of FFO+$39.60 terminal value=$65.79 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Reit Residential).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 16.94× 81.25× 93.62× 82% below 28.23× 40% below
P/FCF 177.61× 109.21× 111.58× 59% above 20.32× 774% above
P/B 3.84× 3.61× 3.82× 1% above 1.88× 104% above
EV/EBITDA 10.87× 15.16× 17.97× 40% below 15.93× 32% below
EV/Sales 9.87× 10.66× 12.44× 21% below 8.07× 22% above
P/FFO 14.95× 16.30× 19.99× 25% below — —
P/E P/FCF P/B EV/EBITDA EV/Sales P/FFO
10.25×12.60×14.94×17.29×10Y avg 12.44×2017201820192020202120222023202420252026

UDR trades at 9.87× EV/Sales, against a 10-year average of 12.44× (range 9.87×–17.59×). That is cheaper than 100% of the last 9 year-end readings; re-rating to the average implies $50.13 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.