UDR, Inc. Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Rental Revenue	1,701	1,664	1,621	1,512	1,285
Property Management Fees	11.36	8.32	6.84	5.02	6.1
Other Revenue	36.59	28.34	4.69	4.95	16.75
Total Revenue	1,749	1,700	1,632	1,522	1,308
Revenue Growth (YoY	2.87%	4.17%	7.22%	16.43%	3.77%
Property Expenses	583.77	568.77	549.36	512.42	447.78
Selling, General & Administrative	109.2	107.82	92.46	85.95	78.84
Depreciation & Amortization	680.04	695.47	691.84	679.57	619.83
Other Operating Expenses	16.94	16.91	6.89	4.39	8.65
Total Operating Expenses	1,390	1,389	1,341	1,282	1,155
Operating Income	358.96	311.22	291.65	240	152.41
Interest Expense	-196.62	-195.71	-180.87	-155.9	-186.27
Interest & Investment Income	19.2	24.2	14.5	3.5	5.3
Other Non-Operating Income	-0.03	-36.54	3.26	-10.43	9.69
EBT Excluding Unusual Items	181.52	103.17	128.54	77.17	-18.87
Gain (Loss) on Sale of Investments	-8.2	-8.1	-	-	48.9
Gain (Loss) on Sale of Assets	242.91	16.87	351.19	25.49	136.05
Other Unusual Items	-11.68	-15.18	-3.14	-9.73	-3.65
Pretax Income	404.55	96.76	476.59	92.93	162.43
Income Tax Expense	0.84	0.88	2.11	0.35	1.44
Earnings From Continuing Operations	403.72	95.88	474.49	92.58	160.99
Minority Interest in Earnings	-26.01	-6.29	-30.14	-5.66	-10.98
Net Income	377.7	89.59	444.35	86.92	150.02
Preferred Dividends & Other Adjustments	4.84	4.84	4.85	4.41	4.23
Net Income to Common	372.87	84.75	439.51	82.51	145.79
Net Income Growth	321.62%	-79.84%	411.20%	-42.06%	133.43%
Basic Shares Outstanding	330	329	329	322	300
Diluted Shares Outstanding	331	330	329	323	302
Shares Change (YoY)	0.28%	0.31%	1.98%	6.96%	2.30%
EPS (Basic)	1.13	0.26	1.34	0.26	0.49
EPS (Diluted)	1.13	0.26	1.34	0.26	0.48
EPS Growth	338.59%	-80.75%	421.16%	-46.56%	140.00%
Dividend Per Share	1.720	1.700	1.680	1.520	1.450
Dividend Growth	1.18%	1.19%	10.53%	4.83%	0.69%
Operating Margin	20.52%	18.30%	17.87%	15.77%	11.66%
Profit Margin	21.32%	4.98%	26.93%	5.42%	11.15%
EBITDA	1,035	1,003	979.98	916.17	768.74
EBITDA Margin	59.19%	59.00%	60.04%	60.18%	58.79%
D&A For Ebitda	676.24	691.87	688.34	676.17	616.33
EBIT	358.96	311.22	291.65	240	152.41
EBIT Margin	20.52%	18.30%	17.87%	15.77%	11.66%
Funds From Operations (FFO)	861.63	812.05	862.95	757.96	656.92
FFO Per Share	2.43	2.29	2.45	2.20	2.02
Adjusted Funds From Operations (AFFO)	787.77	775.24	779.15	726.97	590.75
AFFO Per Share	2.22	2.19	2.21	2.11	1.82
FFO Payout Ratio	65.91%	68.77%	62.56%	63.81%	66.03%
Effective Tax Rate	0.21%	0.91%	0.44%	0.38%	0.89%
Revenue as Reported	1,712	1,672	1,628	1,517	1,291

Source: S&P Global Market Intelligence. Real Estate template. Financial Sources.