UDR, Inc. Q2 FY2026: Flat Revenue, $0.21 GAAP EPS
UDR's fiscal 2026 second quarter was steady rather than stirring: total revenue of $425.4 million exactly matched last year's $425.4 million, while net income rose to $69.0 million from $37.7 million largely on property sale gains. Read the quarter through same-store NOI growth of 1.4% and a balance sheet at 5.6x net debt-to-EBITDAre, not the headline profit jump.
1 · Expected vs. Actual
Free preview belowDiluted GAAP earnings per share were $0.21, above the $0.12 consensus estimate and up from $0.11 a year earlier. That is mostly optics: the quarter included a $35.7 million gain on the sale of real estate owned. FFO as adjusted per share was $0.64, exactly unchanged from a year earlier.
Revenue was $425.4 million, identical to the $425.4 million reported in the same quarter last year. Same-store communities, at 90.5% of NOI, produced $401.7 million of it. The only visible growth came from smaller buckets: Stabilized, Non-Mature communities at $8.6 million and Acquired Communities at $1.4 million.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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