Intrinsic value of UDR - UDR

Previous Close

$37.49

  Intrinsic Value

$9.91

stock screener

  Rating & Target

str. sell

-74%

Previous close

$37.49

 
Intrinsic value

$9.91

 
Up/down potential

-74%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as UDR.

We calculate the intrinsic value of UDR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 10.0

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  3.70
  3.83
  3.95
  4.05
  4.15
  4.23
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.63
  4.67
  4.70
  4.73
  4.76
  4.78
  4.80
  4.82
  4.84
  4.86
  4.87
  4.88
  4.90
  4.91
  4.92
  4.92
  4.93
  4.94
Revenue, $m
  1,033
  1,072
  1,115
  1,160
  1,208
  1,259
  1,313
  1,371
  1,432
  1,496
  1,564
  1,636
  1,712
  1,792
  1,876
  1,965
  2,058
  2,157
  2,260
  2,369
  2,484
  2,605
  2,732
  2,865
  3,005
  3,153
  3,308
  3,471
  3,642
  3,822
Variable operating expenses, $m
  749
  777
  807
  839
  873
  909
  947
  988
  1,031
  1,076
  1,105
  1,156
  1,209
  1,266
  1,325
  1,388
  1,454
  1,524
  1,597
  1,674
  1,755
  1,840
  1,930
  2,024
  2,123
  2,228
  2,337
  2,452
  2,573
  2,700
Fixed operating expenses, $m
  92
  94
  96
  98
  100
  103
  105
  107
  109
  112
  114
  117
  119
  122
  125
  127
  130
  133
  136
  139
  142
  145
  148
  152
  155
  158
  162
  166
  169
  173
Total operating expenses, $m
  841
  871
  903
  937
  973
  1,012
  1,052
  1,095
  1,140
  1,188
  1,219
  1,273
  1,328
  1,388
  1,450
  1,515
  1,584
  1,657
  1,733
  1,813
  1,897
  1,985
  2,078
  2,176
  2,278
  2,386
  2,499
  2,618
  2,742
  2,873
Operating income, $m
  192
  201
  212
  223
  235
  248
  261
  276
  291
  308
  345
  363
  383
  404
  426
  449
  474
  500
  527
  556
  587
  619
  653
  689
  727
  767
  809
  853
  900
  949
EBITDA, $m
  1,030
  1,071
  1,115
  1,162
  1,212
  1,266
  1,322
  1,383
  1,446
  1,514
  1,585
  1,661
  1,741
  1,825
  1,914
  2,008
  2,106
  2,211
  2,320
  2,436
  2,557
  2,685
  2,820
  2,962
  3,111
  3,268
  3,433
  3,606
  3,788
  3,980
Interest expense (income), $m
  125
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  120
  121
  121
  121
  121
  121
  121
  121
  121
  121
  121
  121
  121
  121
  121
Earnings before tax, $m
  71
  81
  91
  103
  114
  127
  141
  155
  171
  187
  224
  243
  263
  283
  305
  329
  353
  379
  407
  436
  466
  499
  533
  568
  606
  646
  688
  732
  779
  828
Tax expense, $m
  19
  22
  25
  28
  31
  34
  38
  42
  46
  51
  61
  66
  71
  76
  82
  89
  95
  102
  110
  118
  126
  135
  144
  153
  164
  174
  186
  198
  210
  223
Net income, $m
  52
  59
  67
  75
  84
  93
  103
  114
  125
  137
  164
  177
  192
  207
  223
  240
  258
  277
  297
  318
  340
  364
  389
  415
  442
  472
  502
  534
  568
  604

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -1,941
  -2,016
  -2,095
  -2,180
  -2,271
  -2,367
  -2,469
  -2,577
  -2,691
  -2,812
  -2,940
  -3,075
  -3,218
  -3,368
  -3,526
  -3,693
  -3,869
  -4,054
  -4,249
  -4,454
  -4,669
  -4,896
  -5,135
  -5,386
  -5,649
  -5,927
  -6,218
  -6,524
  -6,846
  -7,184
Adjusted assets (=assets-cash), $m
  -1,941
  -2,016
  -2,095
  -2,180
  -2,271
  -2,367
  -2,469
  -2,577
  -2,691
  -2,812
  -2,940
  -3,075
  -3,218
  -3,368
  -3,526
  -3,693
  -3,869
  -4,054
  -4,249
  -4,454
  -4,669
  -4,896
  -5,135
  -5,386
  -5,649
  -5,927
  -6,218
  -6,524
  -6,846
  -7,184
Revenue / Adjusted assets
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
  -0.532
Average production assets, $m
  8,193
  8,506
  8,842
  9,200
  9,582
  9,988
  10,418
  10,874
  11,357
  11,867
  12,407
  12,977
  13,578
  14,212
  14,880
  15,585
  16,326
  17,107
  17,929
  18,794
  19,704
  20,661
  21,668
  22,726
  23,839
  25,009
  26,238
  27,530
  28,888
  30,315
Working capital, $m
  -4,096
  -4,253
  -4,421
  -4,600
  -4,791
  -4,994
  -5,209
  -5,437
  -5,678
  -5,934
  -6,204
  -6,488
  -6,789
  -7,106
  -7,440
  -7,792
  -8,163
  -8,554
  -8,965
  -9,397
  -9,852
  -10,331
  -10,834
  -11,363
  -11,920
  -12,504
  -13,119
  -13,765
  -14,444
  -15,157
Total debt, $m
  742
  742
  742
  742
  743
  743
  743
  743
  743
  743
  743
  743
  744
  744
  744
  744
  744
  744
  745
  745
  745
  745
  745
  746
  746
  746
  747
  747
  747
  747
Total liabilities, $m
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  4
  5
  5
  5
  5
  6
  6
  6
  7
  7
  7
Total equity, $m
  -1,943
  -2,018
  -2,097
  -2,182
  -2,273
  -2,369
  -2,471
  -2,579
  -2,694
  -2,815
  -2,943
  -3,078
  -3,221
  -3,371
  -3,530
  -3,697
  -3,873
  -4,058
  -4,253
  -4,458
  -4,674
  -4,901
  -5,140
  -5,391
  -5,655
  -5,932
  -6,224
  -6,531
  -6,853
  -7,191
Total liabilities and equity, $m
  -1,941
  -2,016
  -2,095
  -2,180
  -2,271
  -2,367
  -2,469
  -2,576
  -2,691
  -2,812
  -2,940
  -3,075
  -3,218
  -3,368
  -3,526
  -3,693
  -3,869
  -4,054
  -4,249
  -4,454
  -4,669
  -4,896
  -5,135
  -5,386
  -5,649
  -5,926
  -6,218
  -6,524
  -6,846
  -7,184
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001
  1.001

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  52
  59
  67
  75
  84
  93
  103
  114
  125
  137
  164
  177
  192
  207
  223
  240
  258
  277
  297
  318
  340
  364
  389
  415
  442
  472
  502
  534
  568
  604
Depreciation, amort., depletion, $m
  839
  870
  904
  939
  978
  1,018
  1,061
  1,107
  1,155
  1,206
  1,241
  1,298
  1,358
  1,421
  1,488
  1,558
  1,633
  1,711
  1,793
  1,879
  1,970
  2,066
  2,167
  2,273
  2,384
  2,501
  2,624
  2,753
  2,889
  3,031
Funds from operations, $m
  891
  929
  970
  1,014
  1,061
  1,111
  1,164
  1,220
  1,280
  1,343
  1,404
  1,475
  1,549
  1,628
  1,711
  1,798
  1,890
  1,988
  2,090
  2,197
  2,311
  2,430
  2,556
  2,688
  2,826
  2,972
  3,126
  3,287
  3,457
  3,636
Change in working capital, $m
  -146
  -157
  -168
  -179
  -191
  -203
  -215
  -228
  -241
  -255
  -270
  -285
  -301
  -317
  -334
  -352
  -371
  -390
  -411
  -432
  -455
  -479
  -503
  -529
  -556
  -585
  -615
  -646
  -679
  -713
Cash from operations, $m
  1,037
  1,086
  1,138
  1,193
  1,252
  1,314
  1,379
  1,448
  1,521
  1,598
  1,674
  1,760
  1,850
  1,945
  2,045
  2,150
  2,261
  2,378
  2,501
  2,630
  2,766
  2,909
  3,059
  3,217
  3,383
  3,557
  3,741
  3,934
  4,136
  4,349
Maintenance CAPEX, $m
  -790
  -819
  -851
  -884
  -920
  -958
  -999
  -1,042
  -1,087
  -1,136
  -1,187
  -1,241
  -1,298
  -1,358
  -1,421
  -1,488
  -1,558
  -1,633
  -1,711
  -1,793
  -1,879
  -1,970
  -2,066
  -2,167
  -2,273
  -2,384
  -2,501
  -2,624
  -2,753
  -2,889
New CAPEX, $m
  -294
  -314
  -336
  -358
  -382
  -406
  -430
  -456
  -483
  -511
  -540
  -570
  -601
  -634
  -668
  -704
  -742
  -781
  -822
  -865
  -910
  -957
  -1,007
  -1,058
  -1,113
  -1,170
  -1,229
  -1,292
  -1,358
  -1,427
Cash from investing activities, $m
  -1,084
  -1,133
  -1,187
  -1,242
  -1,302
  -1,364
  -1,429
  -1,498
  -1,570
  -1,647
  -1,727
  -1,811
  -1,899
  -1,992
  -2,089
  -2,192
  -2,300
  -2,414
  -2,533
  -2,658
  -2,789
  -2,927
  -3,073
  -3,225
  -3,386
  -3,554
  -3,730
  -3,916
  -4,111
  -4,316
Free cash flow, $m
  -47
  -47
  -48
  -49
  -50
  -50
  -50
  -50
  -49
  -48
  -52
  -51
  -49
  -47
  -44
  -42
  -39
  -36
  -32
  -28
  -24
  -19
  -14
  -8
  -3
  4
  10
  18
  25
  34
Issuance/(repayment) of debt, $m
  -1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Issuance/(repurchase) of shares, $m
  -69
  -74
  -80
  -85
  -91
  -96
  -102
  -108
  -115
  -121
  -128
  -135
  -143
  -150
  -159
  -167
  -176
  -185
  -195
  -205
  -216
  -227
  -239
  -251
  -264
  -277
  -292
  -306
  -322
  -338
Cash from financing (excl. dividends), $m  
  -70
  -74
  -80
  -85
  -91
  -96
  -102
  -108
  -115
  -121
  -128
  -135
  -143
  -150
  -159
  -167
  -176
  -185
  -195
  -205
  -216
  -227
  -239
  -251
  -264
  -277
  -292
  -306
  -322
  -338
Total cash flow (excl. dividends), $m
  -116
  -121
  -128
  -134
  -140
  -146
  -152
  -158
  -163
  -169
  -180
  -186
  -191
  -197
  -203
  -209
  -215
  -221
  -227
  -233
  -239
  -246
  -252
  -259
  -266
  -274
  -281
  -289
  -296
  -305
Retained Cash Flow (-), $m
  69
  74
  80
  85
  91
  96
  102
  108
  115
  121
  128
  135
  143
  150
  159
  167
  176
  185
  195
  205
  216
  227
  239
  251
  264
  277
  292
  306
  322
  338
Prev. year cash balance distribution, $m
  1,874
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  13
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  1,827
  74
  80
  85
  91
  96
  102
  108
  115
  121
  128
  135
  143
  150
  159
  167
  176
  185
  195
  205
  216
  227
  239
  251
  264
  277
  292
  306
  322
  338
Discount rate, %
  5.60
  5.88
  6.17
  6.48
  6.81
  7.15
  7.50
  7.88
  8.27
  8.69
  9.12
  9.58
  10.06
  10.56
  11.09
  11.64
  12.22
  12.84
  13.48
  14.15
  14.86
  15.60
  16.38
  17.20
  18.06
  18.96
  19.91
  20.91
  21.95
  23.05
PV of cash for distribution, $m
  1,730
  66
  67
  66
  65
  64
  62
  59
  56
  53
  49
  45
  41
  37
  33
  29
  25
  21
  18
  15
  12
  9
  7
  6
  4
  3
  2
  2
  1
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

UDR, Inc. is a self-administered real estate investment trust. The Company owns, operates, acquires, renovates, develops, redevelops, disposes of and manages multifamily apartment communities generally located in various markets across the United States. The Company's segments are Same-Store Communities and Non-Mature Communities/Other. As of December 31, 2016, the Company's consolidated real estate portfolio included 127 communities located in 18 markets, with a total of 39,454 completed apartment homes. As of December 31, 2016, the Company also had an ownership interest in 27 communities containing 6,849 apartment homes through unconsolidated joint ventures or partnerships. As of December 31, 2016, the Company's properties were in various locations, such as Orange County, San Francisco and Los Angeles in California; Seattle, Washington; Richmond, Virginia; Baltimore, Maryland; Orlando and Tampa in Florida; Nashville, Tennessee, and Dallas and Austin in Texas.

FINANCIAL RATIOS  of  UDR (UDR)

Valuation Ratios
P/E Ratio 34.2
Price to Sales 10.4
Price to Book 3.2
Price to Tangible Book
Price to Cash Flow 18.7
Price to Free Cash Flow 101.2
Growth Rates
Sales Growth Rate 7.3%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -5.8%
Cap. Spend. - 3 Yr. Gr. Rate -0.2%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 110%
Total Debt to Equity 110%
Interest Coverage 2
Management Effectiveness
Return On Assets 5.5%
Ret/ On Assets - 3 Yr. Avg. 15.1%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 4.1%
Return On Equity 9.8%
Return On Equity - 3 Yr. Avg. 9.1%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 67.8%
Gross Margin - 3 Yr. Avg. 67%
EBITDA Margin 68.4%
EBITDA Margin - 3 Yr. Avg. 65.9%
Operating Margin 18.2%
Oper. Margin - 3 Yr. Avg. 17.2%
Pre-Tax Margin 11%
Pre-Tax Margin - 3 Yr. Avg. 7.5%
Net Profit Margin 30.5%
Net Profit Margin - 3 Yr. Avg. 29.1%
Effective Tax Rate -3.8%
Eff/ Tax Rate - 3 Yr. Avg. -502.2%
Payout Ratio 106.8%

UDR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the UDR stock intrinsic value calculation we used $996 million for the last fiscal year's total revenue generated by UDR. The default revenue input number comes from 2017 income statement of UDR. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our UDR stock valuation model: a) initial revenue growth rate of 3.7% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.6%, whose default value for UDR is calculated based on our internal credit rating of UDR, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of UDR.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of UDR stock the variable cost ratio is equal to 72.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $90 million in the base year in the intrinsic value calculation for UDR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 16.2% for UDR.

Corporate tax rate of 27% is the nominal tax rate for UDR. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the UDR stock is equal to 1.3%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for UDR are equal to 793.2%.

Life of production assets of 10 years is the average useful life of capital assets used in UDR operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for UDR is equal to -396.6%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for UDR - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 267 million for UDR is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of UDR at the current share price and the inputted number of shares is $10.0 billion.

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COMPANY NEWS

▶ UDR Declares Quarterly Dividend   [Jun-21-18 04:16PM  Business Wire]
▶ UDR, Inc. to Host Earnings Call   [Apr-26-18 10:20AM  ACCESSWIRE]
▶ UDR: 1Q Earnings Snapshot   [Apr-25-18 04:59PM  Associated Press]
▶ UDR Announces First Quarter 2018 Results   [04:16PM  Business Wire]
▶ What Are Analysts Saying About UDR Incs (NYSE:UDR) Future?   [Mar-05-18 07:39PM  Simply Wall St.]
▶ UDR to Participate in Citi Global Property CEO Conference   [Feb-22-18 04:16PM  Business Wire]
▶ UDR, Inc. to Host Earnings Call   [08:45AM  ACCESSWIRE]
▶ UDR reports 4Q results   [Feb-06-18 04:55PM  Associated Press]
▶ UDR, Inc. Reports Tax Status of 2017 Dividends   [Jan-17-18 04:16PM  Business Wire]
▶ What Is Equity Residentials Valuation after 3Q17 Earnings?   [Jan-10-18 07:33AM  Market Realist]
▶ UDR Declares Quarterly Dividend   [Dec-14-17 04:16PM  Business Wire]
▶ Should You Buy UDR Inc (UDR) Now?   [Nov-28-17 03:56PM  Simply Wall St.]
▶ Warehouse, infrastructure owners buck sluggish REIT market   [Nov-16-17 03:08PM  Associated Press]
▶ No, the housing market isnt experiencing a Trump bump   [Nov-02-17 10:51AM  Yahoo Finance Video]
▶ UDR, Inc. to Host Earnings Call   [Oct-31-17 09:10AM  ACCESSWIRE]
▶ UDR reports 3Q results   [Oct-30-17 04:23PM  Associated Press]
▶ UDR Announces Third Quarter 2017 Results   [04:16PM  Business Wire]
▶ Weekly Top Insider Buys Highlight for the Week of Sept. 29   [Sep-30-17 09:31PM  GuruFocus.com]
▶ UDR Declares Quarterly Dividend   [Sep-21-17 04:16PM  Business Wire]
▶ Where Trump sees carnage, jobs are springing up   [Sep-13-17 10:19AM  Yahoo Finance Video]
▶ iPhone X delay rattle markets   [08:51AM  Yahoo Finance]
▶ How AvalonBay Compares after 2Q17   [07:35AM  Market Realist]
▶ AvalonBay Maintains Profit with Strategic Capital Deployment   [Aug-09-17 10:37AM  Market Realist]
▶ What Lies Ahead for AvalonBay   [07:41AM  Market Realist]
▶ Where AvalonBay Stands after Its 2Q17 Earnings Release   [Aug-08-17 04:58PM  Market Realist]
▶ Why This REIT Is No Longer A Buy   [Jul-31-17 01:40PM  Barrons.com]
▶ UDR reports 2Q results   [Jul-26-17 10:23PM  Associated Press]
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