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Dec 31, 2023
UDR Q4 2023 Earnings Report
UDR announced its fourth quarter and full-year 2023 results, established 2024 guidance ranges, and increased dividend.
Key Takeaways
UDR's fourth quarter 2023 results showed a revenue increase driven by Same-Store communities and external investments. The company acquired One Upland, sold The Arbory, and entered an agreement to sell Crescent Falls Church. Stabilized occupancy was achieved at The MO.
Total revenue increased by $13.6 million YOY, or 3.4 percent, to $413.3 million.
Acquired One Upland, a 262-home apartment community in suburban Boston, MA, for $114.3 million.
Sold The Arbory, a 276-home apartment community in Portland, OR, for gross proceeds of $78.6 million.
Entered into an agreement to sell Crescent Falls Church, a 214-home apartment community in Metropolitan Washington, D.C., for gross proceeds of $100.0 million.
Forward Guidance
The Company has established the following guidance ranges for the first quarter and full-year 2024 for Net Income per share, FFO per share, FFOA per share, AFFO per share, and same-store growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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