UDR(US:UDR)2025-06-19 12:46UDR Performance and Outlook - UDR's key operating metrics, including occupancy of nearly 97%, are trending above the midpoints of the full-year outlook[5] - UDR anticipates blended lease rate growth of 1.9% to 2.7% in the second quarter of 2025, following 0.9% in the first quarter[12] - UDR has paid 210 consecutive dividends and has a 6% CAGR since 2010[26] - UDR's innovation initiatives have driven approximately $40 million of incremental run-rate NOI since 2018, equating to $800 million of value creation[32] Market Trends and Demographics - The median resident Rent-to-Income (R/I) ratio is in the low-20% range, with UDR household income 2.5x higher than the median MSA income[14] - Renting is nearly 60%, or $3,200 per month, less expensive than owning across UDR markets[18] - Multifamily starts have declined materially since mid-2022, indicating slowing future supply[20] - Resident move outs to buy (5%) or rent (1%) a single-family home during 1Q 2025 totaled 6%, or 50% below historic norms[58] Portfolio and Capital Allocation - UDR has a diversified portfolio with 35% of NOI from the West Coast, 25% from the Sunbelt, and 40% from the Northeast/Mid-Atlantic[31] - Only 10% of UDR's consolidated debt outstanding matures through 2026, excluding Commercial Paper, Working Capital Facility, and principal amortization[60] ESG and Sustainability - UDR is committed to invest $35 million into strategic ESG and Climate Technology Funds[64] - Two Green Bond issuances totaling $650 million of proceeds since 2019[64]