UDR publishes third-quarter 2026 earnings call transcript
UDR•UDR raised its full-year adjusted FFO guidance midpoint by $0.02 to $2.55 per share and increased same-store revenue and net operating income growth guidance. Its $2 billion Apollo joint venture closed, generating $1.34 billion in equity capital.
1. Guidance raised
UDR’s November 3 third-quarter earnings call featured CEO Tom Toomey, COO Mike Lacy and CFO David Bragg. The company raised full-year adjusted FFO guidance by $0.02 per share at the midpoint to $2.55; fourth-quarter guidance is $0.63-$0.65 per share.
2. Apollo joint venture
UDR’s $2 billion Apollo joint venture closed, generating $1.34 billion in equity capital for a two-thirds portfolio interest. About one-third of the proceeds will reduce debt, with the remainder earmarked for acquisitions and share repurchases. Full-year same-store revenue growth guidance rose to 1.4%-1.8%, and same-store net operating income growth guidance rose to 0.8%-1.2%.
