UDR, Inc. (NYSE: UDR) announced its Board of Directors authorized an increase to its share repurchase program by 25 million shares, bringing the total authorization to approximately 30 million shares.

The multifamily real estate investment trust said the expanded program represents more than $1 billion at current share price levels. The authorization took effect immediately.

Share repurchases under the program may occur through open-market purchases, block purchases, privately negotiated transactions or other methods as determined by the company. The timing and number of shares repurchased will depend on factors including price, corporate and regulatory requirements, and market conditions.

The share repurchase program does not have an expiration date and may be terminated at any time without prior notice.

As of March 31, 2026, UDR owned or had an ownership position in 59,782 apartment homes, including 300 apartment homes under development. The Denver-based company is an S&P 500 component and describes itself as a multifamily real estate investment trust focused on managing, buying, selling, developing and redeveloping residential communities in targeted U.S. markets.

The information is based on a company press release statement.