UDR forecasts 2026 profit below estimates amid weak rental demand, high supply
29/04/2026 23:07
Multifamily real estate investment trust UDR UDR.N on Wednesday forecast 2026 profit and adjusted funds from operations below Wall Street estimates, as demand for rental apartments remained weak and supply stayed high. U.S. apartment landlords face a tough market currently, with a wave of new buildings competing for tenants, slowing rent growth and higher costs and interest rates weighing on the sector. The Highlands Ranch, Colorado‑based REIT expects full‑year profit per share between $0.91 and $1.01, below analysts’ expectations of $0.52, according to LSEG data. The midpoint of its forecast for full-year adjusted FFO per share is $2.53, lower than analysts' estimates of $2.54. Total revenue for the quarter ended March 31 came in at $425.8 million, below analysts’ expectations of $428.4 million, partly hurt by a decline in revenue from property sales. Shares of the REIT, which has ownership interests in nearly 60,000 rental homes nationwide, were marginally up in after-hours trading. "First quarter same-store and FFOA per diluted share results aligned with our expectations, and we adhered to our capital allocation heatmaps to create shareholder value by selling assets at compelling valuations and repurchasing our stock," CEO Tom Toomey said. UDR's same‑store physical occupancy in the first quarter slipped 0.6 percentage points from a year earlier to 96.6%. (Reporting by Megha Kumari in Bengaluru; Editing by Jonathan Ananda) ((Megha.Kumari@thomsonreuters.com;))