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UDR is a self-administered real estate investment trust, or REIT, that owns, operates, acquires, renovates, develops, redevelops, disposes of, and manages multifamily apartment communities in targeted markets located in the United States. At December 31, 2025, our consolidated real estate portfolio consisted of 165 communities located in 21 markets, consisting of 55,240 completed apartm…
32.33% operating margin is above average. ROIC at 5.90%. Note that capital returns lag the margin, the business may be capital-intensive despite high margins.
Revenue grew 4.8%, steady but not accelerating.
Net debt of $6.00B represents 9.2x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.72B
▲ +4.8% YoY
Net Income (TTM)
$491M
▲ +321.6% YoY
Op. Margin
38.52%
▲ +14.9pp YoY
ROIC
7.14%
▲ +3.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$632M
▲ +3.7% YoY
Op. Cash Flow (TTM)
$875M
▲ +3.0% YoY
Net Debt
$5.84B
Cash & Equiv.
$1M
5Y CAGR: +6.7%
5Y CAGR: +8.1%
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