Core Insights - The session features UDR's CEO, Tom Toomey, discussing the company's value creation mechanisms through operations, innovation, and capital allocation [2]. Company Overview - UDR is represented by a leadership team including CFO Dave Bragg, COO Mike Lacy, and Chris Van Ens, who plays various roles within the company [2]. - The company emphasizes the importance of understanding its position in the current market cycle and how it plans to evolve its business strategies [2].

Summary of UDR (NYSE:UDR) 2026 Conference Call Company Overview - **Company**: UDR, a real estate investment trust (REIT) focused on the apartment sector - **Conference Date**: March 3, 2026 - **Key Speakers**: Tom Toomey (CEO), Dave Bragg (CFO), Mike Lacy (COO), Chris Van Ens Core Industry Insights - **Market Dynamics**: The apartment sector is experiencing a shift with a focus on data-driven decision-making to enhance cash flow and operational efficiency [2][4] - **Turnover Reduction**: UDR has successfully reduced turnover by approximately 800 basis points, outperforming peers who reduced turnover by about 400 basis points [4][8] - **Rent Growth Expectations**: Anticipated renewal growth for the first quarter is around ±5%, with expectations increasing to 5.5%-6% in the second quarter [5][10] Financial Performance and Strategy - **Cash Flow Generation**: The company emphasizes converting data into cash flow, with a focus on customer sentiment and operational efficiency [8][9] - **Capital Allocation**: UDR is strategically selling $1 billion worth of assets to create optionality and maintain disciplined selling practices, with a disposition guidance of $300 million-$600 million [11][54] - **Buyback Strategy**: UDR has executed approximately $120 million in stock buybacks and plans to continue this strategy, leveraging asset sales to fund these buybacks [53][54] Market Trends and Predictions - **Occupancy Rates**: Current occupancy rates are around 96.5% to 96.7%, with a goal to maintain strength in the market despite potential economic headwinds [28][41] - **Regional Performance**: Notable performance in markets like San Francisco (blends of upwards of 8%) and New York (blends of ±6%), indicating strong demand in these areas [42][43] - **Future Outlook**: The company anticipates a moderate growth rate of 1.5%-2% for the year, with a cautious approach to market recovery [41][42] Additional Insights - **Customer Retention**: UDR's strategy focuses on retaining existing customers, as acquiring new customers incurs significant costs (approximately $5,000 per new tenant) [9][30] - **Data Utilization**: The company collects over 1 million pieces of customer feedback daily to enhance service and pricing strategies [8][9] - **Market Sentiment**: There is a cautious outlook on the job market, particularly for younger demographics (ages 18-30), which may impact demand [46][47] Conclusion UDR is leveraging data analytics to optimize operations and enhance cash flow while navigating a complex market environment. The company's focus on reducing turnover, strategic capital allocation, and maintaining strong occupancy rates positions it well for future growth despite potential economic challenges.

UDR to Participate in 2026 Citi Global Property CEO ConferenceFeb 27, 2026 4:16 PM Eastern Standard Time# UDR to Participate in 2026 Citi Global Property CEO ConferenceShare---DENVER--([BUSINESS WIRE])--UDR, Inc. (the "Company†) (NYSE: [UDR]), a leading multifamily real estate investment trust, announced today that Thomas W. Toomey, Chairman, President, and Chief Executive Officer, and the UDR Executive Team will host a roundtable discussion at the 2026 Citi Global Property CEO Conference on Tuesday, Marc ...

INVESTOR PRESENTATION March 2026 101 N. Meridian Tampa, FL 101 N. Meridian Tampa, FL TABLE OF CONTENTS 2 14 3 Reasons to Invest in UDR 4 Recent Updates: 2026 Outlook 6 Corporate Strategy & Value Proposition 8 Operational Excellence 9 Capital Allocation: Investment Analytics 10 Strong, Liquid, Flexible Balance Sheet 11 UDR At A Glance 13 Positive Fundamentals Corporate Governance & Sustainability Leadership Appendix: The Case for Apartment REITs 15 REASONS TO INVEST IN UDR Why UDR Total Return Track Record: ...

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Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, $0.01 par value UDR New York Stock Exchange OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file ...

Core Insights - UDR has proactively shifted approximately 25% of its Q4 lease expirations to higher-demand months in 2026 to prepare for the typical fourth-quarter slowdown [1] - The company experienced a significant improvement in lease rate growth since October, with new lease rate growth increasing by 550 basis points and renewals by 300 basis points [2] - UDR anticipates blended lease rate growth of 1.5% to 2% on average in 2026, which is about 100 basis points higher than in 2025, driven by a reduction in supply completions [4] Company Performance - UDR built occupancy to nearly 97% despite a weakening demand in late Q3, with new lease growth falling to negative 8% and renewals at 2% in October [2] - The positive operating momentum from late 2025 has continued into 2026, with further acceleration in lease rate growth and high occupancy levels [3] - The company expects full-year 2026 same-store revenue growth to fall between 0.25% to 2.25%, with blended lease rate growth contributing approximately 80 basis points [4] Market Outlook - UDR's management sees several tailwinds for 2026, including a decrease in apartment completions, which is expected to lead to rent price acceleration in the Sun Belt [5] - Rent-to-income ratios for UDR's renters are below the long-term average, indicating that residents can comfortably accept rent increases [6]

Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported FFOA per share of $0.64 and full-year FFOA per share of $2.54, achieving the midpoints of previously provided guidance ranges [11][12] - Same-store revenue growth met guidance, while same-store expense and NOI growth results exceeded expectations [11][12] - The company repurchased approximately $93 million of common stock at a weighted average share price of $35.56, reflecting a sizable discount to NAV [13] Business Line Data and Key Metrics Changes - The acquisition of the Enclave at Potomac Club for $147 million is expected to outperform the market based on predictive analytics [12] - The company contributed four apartment communities to a joint venture, increasing its size to approximately $850 million [12] - The company anticipates blended lease rate growth of 1.5% to 2% in 2026, which is approximately 100 basis points higher than 2025 [21][22] Market Data and Key Metrics Changes - The company noted a slowdown in supply completions across its markets, which is expected to bolster growth [8][16] - The average rent-to-income ratio for residents remains below the long-term average, indicating affordability for rent increases [15] - The company expects a more muted job growth environment but anticipates continued demand due to high home prices and mortgage rates [14][15] Company Strategy and Development Direction - The company emphasizes a culture of innovation and data-driven decision-making to enhance shareholder value [6][7] - Ongoing investments in customer experience and AI tools are expected to drive incremental NOI growth [9][27] - The company plans to be a net seller of assets in 2026, actively marketing numerous apartment communities for sale [18][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating momentum achieved in late 2025 continuing into 2026, with expectations for high occupancy and lease rate growth [8][29] - The company is focused on optimizing occupancy and reducing turnover, with expectations for continued strong performance in key markets [38][81] - Management acknowledged potential regulatory risks but remains confident in the company's ability to navigate these challenges [72][74] Other Important Information - The company welcomed Ellen Goitia as a new board member, enhancing its governance expertise [9][10] - The company reported that its same-store revenue growth was at or above peer median across 13 of 14 markets shared with public peers in 2025 [30] Q&A Session Summary Question: Can you talk about your blended rate growth expectation for the full year? - Management noted that they are off to a better start than expected, with January's blended rate growth at about 1%, which is 50-75 basis points better than originally thought [32][34] Question: What are your thoughts on occupancy and retention? - Management emphasized efficiency in the turn process and expects to maintain occupancy around 96% while pushing for renewals in the 5% range [36][39] Question: Can you provide detail on the variance across your regions? - Management indicated stronger acceleration in the Sunbelt markets compared to coastal markets, with Dallas showing positive trends [41][42] Question: How much could you step on the gas on dispositions this year? - Management stated they are comfortable executing on a midpoint of dispositions while being mindful of tax gain capacity [46][48] Question: What factors will drive the contribution from other revenues in 2026? - Management expects mid-single-digit growth from initiatives like Wi-Fi and parking, with a focus on optimizing storage and pet rent [50][52] Question: What is your expectation for key coastal markets? - Management expects stronger performance in New York and San Francisco, while Boston and D.C. may not perform as well [78][81]

Financial Data and Key Metrics Changes - For Q4 2025, the company reported FFOA per share of $0.64 and $2.54 for the full year, achieving the midpoints of previously provided guidance ranges [11][12] - Same-store revenue growth met guidance, while same-store expense and NOI growth results exceeded expectations [11][12] - The company repurchased approximately $120 million of its stock during 2025, reflecting a disciplined capital allocation strategy [9] Business Line Data and Key Metrics Changes - The acquisition of the Enclave at Potomac Club for $147 million is expected to outperform the market based on predictive analytics [12] - The company contributed four apartment communities to a joint venture, increasing its size to approximately $850 million [12] - The company anticipates blended lease rate growth of 1.5% to 2% in 2026, which is approximately 100 basis points higher than 2025 [21] Market Data and Key Metrics Changes - The company noted a slowdown in supply completions across its markets, which is expected to bolster its growth profile [8] - The average rent-to-income ratio for residents remains below the long-term average, indicating affordability for rent increases [15] - The company expects a more muted job growth environment but anticipates continued demand due to high home prices and mortgage rates [14] Company Strategy and Development Direction - The company emphasizes a culture of innovation and data-driven decision-making to enhance shareholder value [6][7] - Ongoing investments in customer experience and AI tools are expected to drive incremental NOI growth [9][27] - The company plans to be a net seller of assets in 2026, actively marketing several apartment communities for sale [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating momentum continuing into 2026, with expectations for further acceleration in lease rate growth and high occupancy [8][29] - The company is mindful of regulatory risks and consumer confidence, which has recently hit its lowest level in a decade [14] - Management highlighted the importance of maintaining strong occupancy levels and reducing turnover to drive cash flow [39] Other Important Information - The company welcomed Ellen Goitia as a new board member, enhancing its governance expertise [10] - The company reported that its same-store revenue growth was at or above peer median across 13 of 14 markets shared with public peers [30] Q&A Session Summary Question: Can you talk about your blended rate growth expectation for the full year? - Management noted that they are off to a better start than expected, with January achieving a 1% growth, which is 50-75 basis points better than originally thought [33] Question: What are your thoughts on occupancy and retention? - Management emphasized efficiency in the turn process and expects to maintain occupancy around 97%, with a focus on reducing turnover [39] Question: Can you provide detail on the variance across your regions? - Management indicated stronger acceleration in the Sunbelt markets compared to coastal markets, with Dallas showing positive trends [42] Question: How much could you step on the gas on dispositions this year? - Management stated they are comfortable executing on a midpoint of dispositions while being mindful of tax gain capacity [48] Question: What factors will drive the contribution from other revenues in 2026? - Management expects mid-single-digit growth from initiatives like Wi-Fi and parking, with a focus on optimizing storage and pet rent [51] Question: What is your expectation for key coastal markets? - Management expects strong performance in markets like San Francisco and New York, while Boston is anticipated to be a decent performer [80]