DENVER--(BUSINESS WIRE)--UDR, Inc. (the "Company†) (NYSE: UDR), a leading multifamily real estate investment trust, announced today that it has closed a $230 million expansion of its joint venture with LaSalle Investment Management (the "Partner†), increasing the size of the joint venture to approximately $850 million. Under the terms of the transaction, UDR will: Contribute four additional apartment communities totaling 974 apartment homes, increasing the size of the venture to a total of 2,56. ...

CHICAGO, Dec. 18, 2025 /PRNewswire/ -- LaSalle Investment Management ("LaSalle") announced today that it has closed on a $230 million expansion of its joint venture with UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust. This transaction increases the total size of the joint venture to approximately $850 million. The expansion adds four apartment communities totaling 974 homes to the joint venture's portfolio, which now comprises 2,564 homes. The newly contributed properties are loc ...

Core Points - Mid-America Apartment Communities, Inc. (MAA) announced a quarterly dividend payment of $1.53 per share, to be paid on January 30, 2026, to shareholders of record on January 15, 2026 [1] - The annualized dividend payment will increase to $6.12 per share, reflecting an 8.3% compounded growth over the past five years, marking the 16th consecutive year of dividend increases [1] Company Overview - MAA is a self-administered real estate investment trust (REIT) and a member of the S&P 500, primarily owning or having ownership interests in apartment communities across the Southeast, Southwest, and Mid-Atlantic regions of the U.S. [3] - The company focuses on delivering strong, full-cycle investment performance [3] Earnings Announcement - The board of directors declared the quarterly common dividend ahead of MAA's earnings announcement, which is expected on February 4, 2026 [2]

This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Dive Brief: Aimco continued the process of liquidating its holdings by going under contract to sell a seven-property portfolio in Chicago to LaTerra Capital Management, in partnership with Respark Residential, for $455 million, according to a Dec. 15 press release. The buyer has completed due diligence and provided a nonrefundable deposit that will, under t ...

Core Insights - AvalonBay Communities, Inc. (AVB) is valued at $25.2 billion and is one of the largest U.S. residential real estate investment trusts (REITs), focusing on high-quality apartment communities [1] - The company operates over 97,000 apartment homes in major metropolitan markets, aiming for stable long-term returns through established properties and new developments [2] Financial Performance - AVB stock has decreased 23.2% from its 52-week high of $231.21, with an 8.7% decline over the past three months, underperforming the Real Estate Select Sector SPDR Fund (XLRE) [3][4] - Year-to-date, AVB shares are down 19.3%, and 21.6% over the past 52 weeks, also underperforming XLRE [4] - Following the Q3 earnings report, AVB stock fell 4.3%, with core FFO per share at $2.75, which was 2.1% below analyst estimates [5] Revenue and Growth - Same-store residential revenue increased by 2.3% year-over-year to $685.4 million, while same-store residential NOI rose 1.1% to $461 million [5] - Despite recent performance issues, analysts maintain a "Moderate Buy" rating for AVB, with a mean price target of $204.03, indicating a potential upside of 14.9% [6]

Real Estate Market Outlook - The real estate industry is expected to experience a significant uptick in 2026, with home sales projected to increase by 14% following a lackluster performance in 2025 [1] - New home sales are estimated to rise by 5% in 2026, indicating a recovery in the housing market [1] - Home prices are anticipated to increase by 4% in 2026, driven by improved employment statistics and persistent supply shortages [2] Residential Real Estate Insights - The current housing market shows healthy gains in the $750K to $1 million price range, while the supply of affordable properties remains limited [2] - Strong mortgage applications and new home constructions, along with stable employment, contribute positively to the residential housing market outlook for 2026 [2] Commercial Real Estate Insights - Deloitte's report indicates a cautious optimism in the commercial real estate sector amid global economic volatility and high interest rates [3] - 83% of commercial real estate survey participants expect revenue growth by the end of the year, a decrease from 88% the previous year [4] - There is a modest increase in debt financing availability, but concerns remain regarding capital risks and policy shifts [3][4] Investment Strategy - The selection of real estate dividend stocks is based on strong hedge fund interest and healthy financial performance, which positions these firms to withstand market fluctuations [6] - The strategy of imitating top hedge fund stock picks has historically outperformed the market, with a reported return of 427.7% since May 2014 [7] Company Highlights - AvalonBay Communities, Inc. (NYSE:AVB) has a dividend yield of 3.85% and is viewed positively by analysts, with a target price of $216 [8] - SBA Communications Corporation (NASDAQ:SBAC) has a dividend yield of 2.28% and has made significant acquisitions, including 447 communication sites for $142.8 million [11][12] - SBAC's financial health includes $12.8 billion in total debt and a $1.5 billion buyback initiative, demonstrating strong liquidity management [12][13]

Financial Data and Key Metrics Changes - Centerspace reported a 4.5% year-over-year growth in NOI within the same-store portfolio for Q3 2025, driven by solid revenue increases and effective expense control [4][12] - Core FFO for Q3 was $1.19 per diluted share, with a reduction in the midpoint of core FFO guidance by $0.02 to $4.92 due to timing adjustments related to strategic transactions and G&A costs [5][12] - Same-store revenues increased by 2.4%, with a 20 basis point increase in occupancy and a 2.2% increase in average monthly revenue per occupied home [12][13] Business Line Data and Key Metrics Changes - The Denver portfolio faced challenges with Q3 blended lease rates down 3.5%, while North Dakota showed strong performance with blended increases of 5.2% [6][10] - Retention rates exceeded expectations at 60% during peak leasing quarters, with Minneapolis benefiting from improved occupancy and increasing rental rates [6][10] Market Data and Key Metrics Changes - The Minneapolis market is expected to outperform historical trends, with strong demand and absorption projected for 2026 [18][41] - Fort Collins showed significant outperformance compared to Denver, with retention rates 800 basis points ahead and strong year-over-year occupancy increases [10][41] Company Strategy and Development Direction - Centerspace is focused on enhancing market position and shareholder value through strategic acquisitions and dispositions, including the sale of lower-growth communities in Minnesota [5][10] - The company aims to maintain operational excellence and financial discipline while navigating the current cost of capital environment [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in Minneapolis and expects it to be among the top U.S. markets for rent growth in 2026 [18][41] - The company anticipates that demand in Denver will start to outpace supply in late 2026, leading to improved market conditions [41][42] Other Important Information - The company has recycled approximately $212 million of capital through strategic transactions, enhancing the quality and efficiency of its portfolio [5][10] - Recent acquisitions included properties in Salt Lake City and Fort Collins, with a focus on scaling in these markets [9][10] Q&A Session Summary Question: How does the company balance share repurchases with reducing leverage? - Management indicated that share repurchases were a small use of proceeds and emphasized the importance of capital allocation based on market conditions [16][17] Question: What are the expectations for the Minneapolis market going forward? - Management expects a return to normalcy in Minneapolis, with potential for above-average performance due to strong demand and absorption [18][19] Question: Can you elaborate on concession levels in Denver? - Concessions in Denver range from no concessions to six weeks free, with the market experiencing varying levels of concessions [22][23] Question: What are the expectations for blended lease growth in Q4? - Renewals are expected to remain strong, but new lease tradeouts are negative, indicating a stable occupancy trend [30][31] Question: What are the drivers of higher G&A expenses? - Higher G&A expenses were attributed to additional fees and legal expenses, but these are not expected to be run-rate items [32][33] Question: How does the company view the performance of smaller markets? - North Dakota is expected to continue outperforming, with Minneapolis also showing strong potential for growth in 2026 [80][81]

Core Insights - Essex Property Trust Inc. (ESS) reported third-quarter 2025 core funds from operations (FFO) per share of $3.97, exceeding the Zacks Consensus Estimate of $3.96 and reflecting a 1.5% year-over-year improvement [1][8] - The company raised its full-year 2025 guidance for core FFO per share, projecting a range of $15.89-$15.99, up from the previous range of $15.80-$16.02 [9] Financial Performance - Total revenues for the third quarter were $473.3 million, a 5% increase year-over-year, but slightly below the Zacks Consensus Estimate of $475.5 million [2] - Same-property revenues increased by 2.7% year-over-year, while same-property operating expenses rose by 3.5% [3] - Same-property net operating income (NOI) grew by 2.4% year-over-year, which was below the estimated growth of 2.6% [3] Interest and Operating Expenses - Interest expenses increased by 8.4% year-over-year to $63.3 million, close to the estimate of $63.7 million [4] - Financial occupancy rates were reported at 96.1%, down 10 basis points year-over-year and below the estimated 96.4% [3] Portfolio Activity - During the third quarter, ESS acquired a 234-unit apartment community in San Jose, CA, for $100 million and disposed of three apartment communities for a total contract price of $244.7 million [5] Balance Sheet Position - As of September 30, 2025, ESS had $1.5 billion in liquidity, including cash, cash equivalents, and marketable securities [6] - Cash and cash equivalents, including restricted cash, increased to $75.2 million from $67.9 million at the end of the previous quarter [6] Future Guidance - For the fourth quarter of 2025, ESS projects core FFO per share in the range of $3.93-$4.03, with the Zacks Consensus Estimate at $4.01 [7] - The full-year guidance is based on projections for same-property revenue growth of 3.00-3.30%, operating expense increase of 3.00-3.50%, and NOI expansion of 2.80-3.40% [9]

Group 1 - Centerspace will release its operating results for the quarter ended September 30, 2025, after the market closes on November 3, 2025 [1] - A conference call to discuss the results will be held on November 4, 2025, at 10:00 a.m. Eastern Time [1] - Interested parties can access the conference call via a live webcast or dial-in options provided [1] Group 2 - Centerspace is an owner and operator of apartment communities, focusing on integrity and service [2] - The company was founded in 1970 and currently owns 68 apartment communities with a total of 12,941 homes across several states [2] - Centerspace was recognized as a top workplace for the sixth consecutive year in 2025 by the Minneapolis Star Tribune [2]

Core Viewpoint - AvalonBay Communities, Inc. will release its third quarter 2025 earnings on October 29, 2025, after market close, followed by a conference call on October 30, 2025, to discuss the results [1][2]. Earnings Release Details - The earnings release will include supplemental Earnings Release Attachments available on the company's website and via email distribution [3]. - A teleconference presentation will be posted on the company's website before market open on October 30, 2025 [3]. Company Overview - AvalonBay Communities, Inc. is an equity REIT that develops, redevelops, acquires, and manages apartment communities in major metropolitan areas across the United States [4]. - As of June 30, 2025, the company owned or held interests in 315 apartment communities with a total of 97,212 apartment homes across 11 states and the District of Columbia, including 20 communities under development [4]. Dividend Announcement - The Board of Directors declared a cash dividend of $1.75 per share for the third quarter of 2025, payable on October 15, 2025, to stockholders of record as of September 30, 2025 [6].