UDR (UDR) 10-K Summary — Year Ended Dec 31, 2023

UDR, Inc. is a real estate investment trust that primarily owns and operates apartment homes. The company reported a year-over-year increase in revenue and positive operating income, net income, and operating cash flow.

Key takeaway

Year ended Dec 31, 2023 · FY2025 10-K

Financial snapshot

Selected annual figures reported with the filing, shown separately from the narrative summary.

Annual revenue

$6.8M

Revenue reported for the fiscal year.

Operating income

$635M

Income from operations reported for the year.

Net income

$444.4M

Net income reported for the year.

Operating cash flow

$832.7M

Cash generated by operating activities.

Annual revenue trend

Reported annual revenue and its change from the preceding fiscal year.

Period ended	Revenue	Year-over-year change
Dec 31, 2021	$6.1M	n/a
Dec 31, 2022	$5M	-17.7%
Dec 31, 2023	$6.8M	+36.3%

Business overview

UDR, Inc. is a real estate investment trust that focuses on the ownership and operation of apartment homes. The company's portfolio generates cash flow from rental rates and occupancy levels.

Financial performance

Revenue increased compared to the prior year. The company reported positive operating income, net income, and operating cash flow for the period.

Material risks

The filing identifies risk factors, but the supplied context does not include specific details. The company's performance is sensitive to rental rates, occupancy levels, and operating expenses.

Liquidity and capital

The company expects to meet short-term liquidity needs through operating cash flows and borrowings, and long-term needs through a combination of operating cash flows, secured and unsecured borrowings, equity or debt issuances, and property dispositions.

What to watch

Monitor changes in rental rates and occupancy levels, as they directly impact the company's operating cash flow and liquidity.