secwatch.observer — SEC 8-K summary
======================================

Issuer:     UDR, Inc. (UDR)
CIK:        0000074208
Form:       8-K
Filed at:   2023-07-26T23:59:59+00:00
Accession:  0000074208-23-000053
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UDR Q2 2023 net income $1.05/share, far above guidance; raises full-year outlook
--------------------------------------------------------------------------------

- Q2 net income per diluted share $1.05, above guidance of $0.11-$0.13 and prior year $0.01; includes gain from joint venture.
- FFO per share $0.63 (guidance $0.60-$0.62, +21% YoY); FFOA $0.61, AFFO $0.55.
- Same-store NOI +7.7% YoY (straight-line basis), revenue +7.6%, expense +7.4%.
- Closed $507.2M JV with LaSalle; UDR retains 51% ownership in four communities.
- Subsequent to Q2, agreed to acquire six communities for ~$401.9M; raises full-year net income guidance to $1.35-$1.39.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/74208/000007420823000053/0000074208-23-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/74208/000007420823000053/udr-20230726x8k.htm
  HTML page:      https://secwatch.observer/filing/0000074208-23-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer