Real estate investment trust UDR raises 2026 outlook

UDR

Wed 13:12

Overview
US multifamily REIT's preliminary Q3 net income per share rose above prior company-provided guidance
Preliminary Q3 adjusted FFO per share reached high end of guidance range
Company raised full-year 2026 guidance for net income and FFOA

Outlook
UDR raises full-year 2026 net income guidance to $1.58-$1.60 per diluted share
Company lifts full-year 2026 FFOA guidance to $2.54-$2.56 per diluted share
UDR expects fourth-quarter 2026 net income of $0.13-$0.15 per diluted share

Result Drivers
MODEST SAME-STORE GROWTH - Co reported year-over-year same-store revenue and NOI growth, with revenue up 1.8% and NOI up 1.6% in Q3
OCCUPANCY AND LEASE RATE GROWTH - Weighted average physical occupancy stood at 96.5% and effective blended lease rate grew 2.0% in Q3
ASSET SALES - Co sold two apartment communities for $183 mln and is under contract to sell another, contributing to capital allocation activity

Company press release: ID:nBw2rLgxPa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$0.67
 
Q3 Net Income
 
$214.87 mln
 
Q3 Adjusted FFO Per Share
 
$0.65
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 12 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the residential reits peer group is "buy."
Wall Street's median 12-month price target for UDR, Inc. is $40.00, about 16.2% above its October 20 closing price of $34.41
The stock recently traded at 54 times the next 12-month earnings vs. a P/E of 65 three months ago

Reuters Recommended Reads
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Oct 20 - Agree Realty Q3 net income per share up 18.5%; raises FY26 AFFO guidance
Oct 20 - US pending home sales tumble to record low in September

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)