UDR raises 2026 full-year guidance, reports Q3 preliminary results

UDR, Inc. (NYSE: UDR), a multifamily real estate investment trust, raised its full-year 2026 guidance ranges for net income and Funds From Operations as Adjusted (FFOA) per diluted share, according to a company press release. The update was issued alongside a separate announcement regarding a planned $2.0 billion strategic partnership with Apollo.

For the third quarter ended September 30, 2026, UDR expects net income per diluted share of $0.67, well above its previously provided guidance range of $0.13 to $0.15. FFOA per diluted share for the quarter is expected to be $0.65, at the high end of prior guidance of $0.63 to $0.65.

The company raised its full-year 2026 net income guidance to $1.58 to $1.60 per diluted share, up from the prior range of $1.03 to $1.11, representing a midpoint increase of $0.52. Full-year FFOA guidance was raised to $2.54 to $2.56 per diluted share, from $2.49 to $2.57, a midpoint increase of $0.02.

Same-store revenue growth guidance for the full year was narrowed to 1.4% to 1.8%, compared to the prior range of 0.75% to 2.00%. Same-store expense growth guidance was revised to 2.7% to 3.1%, from 2.75% to 3.75%. Same-store NOI growth guidance was updated to 0.8% to 1.2%, from 0.00% to 1.25%. These metrics exclude 19 communities comprising the pending Apollo joint venture.

During the third quarter, UDR sold two apartment communities in Seattle and Nashville totaling 412 homes for gross proceeds of $183.0 million. The company also acquired two apartment communities totaling 769 homes in Inland Empire, California, and Portland, Oregon, for an incremental cash outlay of $235.0 million. UDR expanded its joint venture with LaSalle Investment Management to approximately $958.3 million by contributing a 360-home Nashville community, receiving approximately $103.2 million in cash proceeds.

As of September 30, 2026, UDR reported total assets of $10.30 billion and total liabilities of $6.37 billion. The company declared monthly dividends of $0.145 per common share for October, November, and December 2026. Final earnings results are expected November 2, 2026.

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