UDR forms $2B Apollo venture and raises full-year 2026 guidance during third quarter 2026

UDR reported preliminary third quarter 2026 results highlighted by a significant strategic partnership and an upward revision to full-year earnings expectations. The company expects Net Income per share of $0.67 and FFO as Adjusted (FFOA) of $0.65, the latter reaching the top of its prior guidance range. Operating performance remained steady with same-store occupancy at 96.5%.

Key Highlights

• Formed a $2.0 billion joint venture with Apollo involving 19 apartment communities, with Apollo investing $1.34 billion for a two-thirds interest.
• Raised full-year 2026 FFOA per share guidance to a range of $2.54 to $2.56, increasing the midpoint by $0.02.
• Same-store Net Operating Income (NOI) grew 1.6% year-over-year, driven by a 1.8% increase in same-store revenue and effective blended lease rate growth of 2.0%.