UDR raised its full-year 2026 FFOA guidance and announced a strategic decision to let its debt and preferred equity book run off, with no plans to reenter that business. Second quarter FFOA per share reached $0.64, hitting the high end of guidance, and full-year FFOA guidance was raised by $0.01 at the midpoint to $2.53. Third quarter FFOA per share is guided to a range of $0.63 to $0.65. The company expects the debt and preferred equity runoff to cause initial dilution of about $0.01 per share for each $100 million not redeployed, with the book contributing roughly $0.10 per share in 2026 and maturities staggered from 2027 through 2031. UDR also repurchased approximately 5.5 million shares for $200 million at an average price of $36.49 per share and will distribute its first monthly dividend later this week.
UDR IncUDR raised full-year FFOA guidance and repurchased shares, both positive financial actions.