United Dominion Realty Trust Raises Full-Year Outlook Following Strong Q2 Performance
United Dominion Realty Trust (NYSE:UDR) reported strong second-quarter results and raised its full-year outlook for funds from operations as adjusted (FFOA). The company achieved FFOA of $0.64 per share, exceeding guidance and consensus estimates. UDR increased the midpoint of its 2026 FFOA forecast to $2.53 per share due to stronger-than-expected operating performance, particularly in coastal markets where blended lease-rate growth averaged 3.8%, compared to negative 2% in Sun Belt regions. The company also revised same-store net operating income (NOI) guidance upward by 50 basis points and plans to redeploy capital into developments while winding down its debt portfolio. UDR is selling approximately $650 million of assets this year, with proceeds partially used for share repurchases totaling $200 million in Q2 alone. Chairman Tom Toomey attributed the strong performance to favorable apartment fundamentals including employment growth and improved resident retention rates reaching a seasonal high of 60%. Early third-quarter trends remain positive with occupancy levels holding steady at mid-96%.
Tickers: $UDR