Why Invest In UDR, Inc.

Why Invest In UDR, Inc.

Financial Highlights

Financial Highlights
2016 FQ3
9/30/2016
2016 FQ2
6/30/2016
2016 FQ1
3/31/2016
Balance Sheet ($000)
Gross Depreciable Property 8,984,369 9,073,474 9,000,652
Net Property Investment 6,134,467 6,231,201 6,257,191
Construction in Progress 183,816 127,910 85,374
Senior Secured Debt 1,048,993 1,256,119 1,374,670
Senior Unsecured Debt 2,495,397 2,209,058 2,037,155
Total Debt 3,544,390 3,465,177 3,411,825
Total Liabilities 3,824,415 3,731,228 3,657,195
Equity Attributable to Parent Company 2,922,906 2,946,676 2,972,867
Noncontrolling Interests 3,092 2,193 886
Total Equity 2,925,998 2,948,869 2,973,753
Market Capitalization($M) 9,617.30 9,859.80 10,292.80
Implied Market Cap($M) 10,518.10 10,789.80 11,263.40
Total Capitalization($M) 14,175.10 14,368.30 14,790.10
Total Enterprise Value($M) 14,171.80 14,363.10 14,786.40
Total Enterprise Value Plus JV Debt($M) 15,097.10 15,272.40 15,669.70
Income Statement ($000)
Rental Revenue 240,255 236,168 231,957
Rental Net Operating Income 168,720 165,423 162,382
Interest Expense 30,225 30,678 31,104
Revenue 267,733 239,651 235,925
Expense 227,726 227,804 227,794
Extraordinary Items 0 0 0
Net Income 29,466 19,564 11,604
Net Income Attributable to Noncontrolling Int 2,510 1,618 1,211
Net Income Attributable to Parent 26,956 17,946 10,393
Net Income Avail to Common 26,027 17,017 9,464
FFO 135,933 130,485 125,908
Modified FFO NA NA NA
Financial Analysis
ROAA(%) 1.54 1.03 0.61
ROAE(%) 4.01 2.64 1.58
Implied Capitalization Rate(%) 5.09 5.10 5.15
Dividend Payout Ratio(%) 295 491.67 737.50
Dividend Yield(%) 3.28 3.20 3.06
FFO Payout(%) 64.13 67.05 64.53
FFO/ Total Revenue(%) 50.77 54.45 53.37
Price/ LTM FFO(x) 20.70 21.70 23.10
Price/ Last-twelve-months EPS(x) 44.40 48.60 37.40
Recurring EBITDA/ Interest Expense(x) 5.92 4.94 4.70
Recurring EBITDA/ Interest Expense + Pref. Div.(x) 5.75 4.80 4.56
Debt and Preferred/ TEV(%) 30.33 29.37 28.14
Total Debt/ Gross Properties(%) 39.45 38.19 37.91
Loans/ Assets(%) 0.26 0.26 0.22
Credit Lines Drawn/ Available(%) 48.78 55.16 45.77
Changes and Trends (%)
Same-store NOI: Change 6.40 5.70 8
Same-store Revenue: Change from Prior 5.30 5.70 6.40
FFO Growth 19.60 17.34 8.57
FFO/Share Growth 9.50 7.30 0
Real Estate Investment Growth (0.28) (1.27) (2.78)
Per Share Information ($)
Common Shares Outstanding 267,222,186 267,058,578 267,137,288
Closing Price 35.99 36.92 38.53
Basic EPS before Extra 0.10 0.06 0.04
Diluted EPS before Extra 0.10 0.06 0.04
FFO/ Share 0.46 0.44 0.43
Operating FFO per Share, as Reported 0.45 0.45 0.43
Modified FFO per Share NA NA NA
Common Dividends Declared per Share 0.30 0.30 0.30
NAV per Share, as Reported NA NA NA
Principal Payments Schedule ($000)
Debt Due this Fiscal Year 829 3,559 158,533
Debt Due during Next Fiscal Year 70,941 275,526 275,526
Debt Due during Second Fiscal Year 511,065 511,065 511,065
Debt Due during Third Fiscal Year 382,421 319,695 321,845
Debt Due during Fourth Fiscal Year 650,664 725,664 540,664
Debt Due Thereafter 1,941,653 1,641,653 1,616,653
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.