UDR · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

UDR, Inc. · 2026-11-03 · Importance 25 · Surprise 32 · From source text

For the three months ended September 30, 2026, Same-Store rental income increased 1.5% ($5.9 million) to $402.6 million, while Same-Store NOI rose 1.0% ($2.6 million) to $273.1 million. For the nine months ended September 30, 2026, Same-Store rental income increased 1.4% ($16.0 million) to $1,185.1 million and NOI increased 0.5% ($4.3 million) to $803.3 million. Nine-month rental income benefited from a 0.7% ($8.1 million) increase in rental rates, a 6.0% ($8.5 million) increase in reimbursement and other income, and a $2.6 million decrease in bad debt expense, partly offset by an 11.8% ($3.7 million) increase in vacancy loss. Weighted average physical occupancy was 96.6% for the nine months, down 0.3 percentage points, while monthly income per occupied home rose 1.7% to $2,652.

Key facts

• UDR's net income attributable to common stockholders was $214.9 million, or $0.67 per diluted share, for the three months ended September 30, 2026, compared with $39.2 million, or $0.12 per diluted share, in 2025. source
• UDR's net income attributable to common stockholders was $471.3 million, or $1.45 per diluted share, for the nine months ended September 30, 2026, compared with $151.2 million, or $0.46 per diluted share, in 2025. source
• Same-Store rental income increased 1.5% to $402.617 million for the three months ended September 30, 2026, from $396.676 million in 2025. source
• Same-Store rental income increased 1.4% to $1,185.117 million for the nine months ended September 30, 2026, from $1,169.115 million in 2025. source
• Same-Store property rental income in the three months ended September 30, 2026 increased 0.8%, or $2.9 million, from rental rates and 6.7%, or $3.3 million, from reimbursement and other income. source
• Same-Store rental rates increased 0.7%, or $8.1 million, and reimbursement and other income increased 6.0%, or $8.5 million, in the nine months ended September 30, 2026. source
• Same-Store bad debt expense decreased $2.6 million in the nine months ended September 30, 2026, primarily due to fewer delinquent homes and higher collections. source

Impact estimates