UDR, Inc. has announced its fourth quarter and full-year 2025 results. In the fourth quarter of 2025, the net income per diluted share was $0.67, surpassing the guidance range of $0.13 to $0.15. This represents an increase from the fourth quarter of 2024 when the net income per diluted share was $0.69. Similarly, in the full year of 2025, the net income per diluted share was $1.13, exceeding the guidance range of $0.57 to $0.59 and showing a significant increase from the full year of 2024 when it was $0.26.
The funds from operations (FFO) and FFO as adjusted (FFOA) per diluted share for the fourth quarter and full year of 2025 also demonstrated positive growth compared to the prior year period. In the fourth quarter of 2025, FFO per diluted share was $0.62, while in the full year of 2025, it was $2.43. FFOA per diluted share for the same periods were $0.64 and $2.54, respectively.
The same-store results for the fourth quarter and full-year 2025 versus the prior year period showed growth in revenue, expense, and net operating income (NOI). For example, the revenue growth year-over-year for the full year of 2025 was 2.4%, while the expense growth was 2.6% and NOI growth was 2.3%.
During the fourth quarter, UDR, Inc. completed a $231.6 million expansion of its joint venture with LaSalle Investment Management, acquired a 406-apartment home community, and repurchased approximately 2.6 million shares of its common stock at a weighted average share price of $35.56 for total consideration of approximately $92.8 million.
The company's board of directors declared a regular quarterly dividend on its common stock for the fourth quarter 2025 in the amount of $0.43 per share, representing a 1.2 percent increase over the comparable period in 2024. Additionally, the board has announced a 2026 annualized dividend per share of $1.74, representing a 1.2 percent increase over the 2025 annualized dividend per share.
UDR, Inc. also provided guidance ranges for the first quarter and full-year 2026, indicating a positive outlook with expected growth in various financial metrics, including net income, FFO, and FFOA per diluted share, as well as same-store revenue, expense, and NOI.
The company's total revenue increased by $10.4 million year-over-year, or 2.5 percent, in the fourth quarter of 2025, primarily driven by growth in revenue from same-store communities, completed developments, and acquired communities.
Following these announcements, the company's shares moved 1.51%, and are now trading at a price of $37.64. For more information, read the company's full 8-K submission here.
