UDR (UDR) Investor presentation summary

Strategic platform and market positioning

• Structural housing shortages and renter affordability trends support durable apartment demand, with demographic shifts increasing rental propensity and supply moderating in key markets.

• Diversified portfolio spans ~60,000 apartment homes across 21 U.S. markets, balancing exposure between coastal and sunbelt regions for stable occupancy and growth.

• Portfolio mix includes both luxury and market-rate properties, with suburban and urban locations capturing demand across cycles.

Operational excellence and technology

• Data-driven operations leverage proprietary analytics and AI to enhance resident satisfaction, retention, and cash flow growth.

• Enhanced customer experience initiatives since 2023 have reduced resident turnover by 820 basis points and increased average tenure by 15%.

• Every 100 basis point decrease in turnover equates to ~$3.5 million in increased cash flow.

Financial performance and capital allocation

• Same-store NOI grew 90% and FFOA per share rose 133% from 2010 to 2025, driven by operating strength and disciplined expense management.

• Maintains a strong balance sheet with over $1 billion in liquidity, sector-best 3.4% average interest rate, and investment-grade ratings.

• 2026 guidance projects same-store revenue growth between 0.25% and 2.25%, with blended lease rate growth and strong renewals in key markets.

• Capital allocation is guided by proprietary analytics, with asset sales funding share repurchases, debt repayment, and selective acquisitions.

• Recent acquisition case study demonstrates above-market rent growth, occupancy, and margin expansion.