UDR (UDR) 10-K Summary — Year Ended Dec 31, 2024
UDR, Inc. is a real estate investment trust focused on apartment home ownership and operation. For the year, revenue increased, operating income and net income were reported, and operating cash flow was substantial.
Key takeaway
Year ended Dec 31, 2024 · FY2025 10-K
UDR, Inc. is a real estate investment trust focused on apartment home ownership and operation. For the year, revenue increased, operating income and net income were reported, and operating cash flow was substantial.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$8.3M
Revenue reported for the fiscal year.
Operating income
$284.6M
Income from operations reported for the year.
Net income
$89.6M
Net income reported for the year.
Operating cash flow
$876.8M
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% |
| Dec 31, 2024 | $8.3M | +21.5% |
Business overview
The company operates as a real estate investment trust, focusing on a portfolio of apartment homes. Its business generates cash flow primarily through rental rates, occupancy levels, and operating expenses. The company also uses property sales, credit agreements, and capital markets to manage its portfolio and liquidity.
Financial performance
Revenue increased compared to the prior year. Operating income and net income were both positive. Operating cash flow remained strong, supporting ongoing operations.
Material risks
Risk factors are formally outlined in the filing but not detailed in the supplied text. The company's liquidity depends on rental rates, occupancy, and operating expenses, which are subject to market conditions. The filing also acknowledges risks related to debt maturities and financing for development activities.
Liquidity and capital
Primary liquidity sources include cash flow from operations, borrowings under credit agreements, commercial paper, and property sales. The company expects to meet short-term needs through operations and credit facilities, and long-term needs through operations, borrowings, equity or debt issuances, and property dispositions.
What to watch
Monitor changes in revenue trend and the company's ability to maintain or grow rental rates and occupancy levels.