NYSE$UDR

UDR Inc · Q2 2024 earnings

Q2 2024 earnings · · Investor relations

Briefing

UDR's second quarter results were announced, and the full-year 2024 guidance ranges were raised.

UDR announced its second quarter 2024 results, with total revenue increasing by $10.8 million YOY to $415.3 million. The company also raised full-year 2024 FFOA per diluted share and same-store growth guidance expectations.

  • Net Income per diluted share was $0.08.
  • FFO per diluted share was $0.60.
  • FFOA per diluted share was $0.62.
  • AFFO per diluted share was $0.55.

Headline financials

Total Revenue

$415M

Previous: $405M+2.7%
EPS

$0.08

Previous: $0.61-86.9%
FFO per diluted share

$216M

Previous: $0.63+34242698312.7%
FFOA per diluted share

$221M

No prior period
Weighted Average Interest Rate

3.4%

No prior period
Weighted Average Years to Maturity

5.2

No prior period
Consolidated Fixed Charge Coverage Ratio

5

No prior period
Consolidated Debt as % of Total Assets

32.7%

No prior period
Consolidated Net Debt-to-EBITDAre

5.7

No prior period
Capital Expenditures

-$182M

Previous: -$577M+68.5%
Free Cash Flow

-$153M

Previous: -$230M+33.4%
Net Income

$28.9M

Previous: $348M-91.7%
Operating Income

$68.7M

Previous: $397M-82.7%
Gross Profit

$344M

Previous: $335M+2.7%
Cash & Equivalents

$2.77M

Previous: $1.54M+79.4%
Total Assets

$11.1B

Previous: $11.1B+0.3%
Stock-Based Comp

$9.42M

Previous: $7.41M+27.2%

Revenue & EPS history

UDR · Revenue · Quarterly

$415M

Q2 2024+2.7%vs Q2 2023
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Forward guidance

The Company has established the following guidance ranges for the third quarter of 2024 and has updated its previously provided full-year 2024 Net Income per diluted share, FFO per diluted share, FFOA per diluted share, AFFO per diluted share, and Same-Store growth guidance ranges.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2024

Historical avgQ2 2024

-0.3%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+1.7%

Avg return

30 days after

50%

34 / 68 earnings

Positive

+5.5%

Q3 2020

Best reaction

-12.1%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.3%+2.2%+2.0%
Q4 2025+4.3%+0.9%-4.5%
Q3 2025+0.2%+2.1%+8.5%
Q1 2025+1.7%+2.3%-1.1%
Q4 2024+1.8%+1.3%+5.4%
Q3 2024-3.3%-3.5%+5.2%
Q2 2024-2.6%-1.4%+7.2%
Q1 2024-2.1%-0.2%-1.1%
Q4 2023-0.3%-0.2%+6.4%
Q3 2023-7.1%-6.4%-1.9%
Q2 2023-3.9%-3.2%-7.3%
Q1 2023+0.6%+0.9%-4.0%
Q4 2022+1.1%+1.6%-3.0%
Q3 2022-3.2%-2.0%+0.4%
Q2 2022+1.0%+5.1%+3.5%
Q1 2022-3.2%-7.9%-17.7%
Q4 2021+1.2%-1.9%+1.7%
Q3 2021+1.4%+1.6%+5.5%
Q2 2021+0.7%-0.4%-4.3%
Q1 2021-2.2%-0.8%+0.4%
Q4 2020+1.9%+4.3%+6.4%
Q3 2020+5.5%+16.8%+32.5%
Q2 2020-0.1%+2.5%-1.0%
Q1 2020+3.4%+3.2%+13.9%
Q4 2019-0.2%+1.9%-16.5%
Q3 2019+2.7%+1.4%-2.1%
Q2 2019-1.1%-0.6%+3.3%
Q1 2019+0.2%+0.2%-0.4%
Q4 2018+0.3%+0.1%+1.8%
Q3 2018+3.6%-0.1%+7.3%
Q2 2018+4.0%+5.8%+8.3%
Q1 2018+1.7%+2.8%+1.0%
Q4 2017-1.1%-1.1%+0.9%
Q3 2017+0.7%-0.1%+2.2%
Q2 2017+0.0%+1.1%+0.9%
Q1 2017+2.3%+3.1%+6.0%
Q4 2016+0.1%-0.7%+4.4%
Q3 2016+1.9%+0.7%-0.6%
Q2 2016-2.8%+0.4%-2.7%
Q1 2016+0.3%
Q4 2015+0.6%
Q3 2015-0.4%
Q2 2015-0.3%
Q1 2015+1.0%
Q4 2014+0.4%
Q3 2014-0.0%
Q2 2014+1.2%
Q1 2014+0.1%
Q4 2013+2.9%
Q3 2013-0.4%
Q2 2013-1.6%
Q1 2013-0.7%
Q4 2012+0.9%
Q3 2012+0.2%
Q2 2012-1.2%
Q1 2012-0.2%
Q4 2011-1.6%
Q3 2011+0.1%
Q2 2011-12.1%
Q1 2010-1.5%
Q1 2011+1.9%
Q4 2010-1.4%
Q4 2008-1.4%
Q3 2010-3.3%
Q3 2009-3.3%
Q2 2010-2.3%
Q2 2009-2.3%
Q4 2009-2.3%

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