UDR's Q2 FFOA tops estimates. Results reflect an increase in same-store revenues.

The headline numbers for UDR (UDR) give insight into how the company performed in the quarter ended June 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

UDR (UDR) came out with quarterly funds from operations (FFO) of $0.62 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to FFO of $0.61 per share a year ago.

UDR's Q2 earnings are likely to have gained from portfolio diversification and technological initiatives, though high supply and elevated interest rates are likely to have acted as dampeners.

UDR is a REIT that owns and manages multi-family apartment communities, primarily in the West Coast and Northeast markets. The portfolio is well-diversified, leverage is low, and liquidity is high, but the shares are fairly valued. The short-term outlook for the REIT is good, but there may be better vehicles to take advantage of it.

UDR's geographically diverse portfolio, technological moves and healthy balance sheet position bode well for growth. However, elevated deliveries and high interest rates are headwinds.

Due to the current high interest rate environment, most real estate stocks are trading below or at fair value. Moreover, there has been a lot of fear about the real estate market over the past couple of years.

UDR is a large and diversified apartment landlord with a 4.2% yield. Asset manager T.

DENVER--(BUSINESS WIRE)--UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust, today announced that its Board of Directors declared a regular quarterly dividend on its common stock for the second quarter of 2024 in the amount of $0.425 per share, payable in cash on July 31, 2024 to UDR common stock shareholders of record as of July 10, 2024. The July 31, 2024 dividend will be the 207th consecutive quarterly dividend paid by the Company on its common stock. UDR also announce.

UDR's shares have underperformed due to high interest rates and cooling in the apartment rental market. Signs of the rental market finding a bottom make me incrementally more positive about UDR, though its relative value is not particularly compelling. UDR's focus on legacy markets and mid-tier quality properties means it may not be the primary beneficiary of peaking supply.

UDR, Inc. (NYSE:UDR ) Q1 2024 Earnings Conference Call May 1, 2024 12:00 PM ET Company Participants Trent Trujillo - Vice President of Investor Relations Thomas Toomey - Chairman and Chief Executive Officer Joseph Fisher - President and Chief Financial Officer Michael Lacy - Senior Vice President, Operations Andrew Cantor - Senior Vice President, Acquisitions And Dispositions Christopher Van Ens - Vice President Conference Call Participants Nick Joseph - Citi Austin Wurschmidt - KeyBanc Capital Markets Steve Sakwa - Evercore ISI Josh Dennerlein - Bank of America Jamie Feldman - Wells Fargo Anthony Paolone - JPMorgan Nicholas Yulico - Scotiabank John Kim - BMO Capital Markets Adam Kramer - Morgan Stanley Alexander Goldfarb - Piper Sandler Linda Tsai - Jefferies Operator Greetings, and welcome to UDR's First Quarter 2024 Earnings Call. [Operator Instructions].

UDR's Q1 results reflect an increase in revenues from same-store communities and growth from past accretive external investments, though a rise in expenses acts as a dampener.