UDR (UDR) annual balance sheet covering fiscal 2019 through 2024, as reported to the SEC.
Total assets have grown 2.5% a year on average since fiscal 2019, from $9.64B to $10.9B.
A balance sheet shows what a company owns and what it owes on a single date. The difference between the two belongs to shareholders.
| Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS | |||||||||||||||||||||
Real estate owned: | |||||||||||||||||||||
Real estate held for investment | |||||||||||||||||||||
15,994 | 15,757 | 15,365 | 14,352 | 12,706 | 12,532 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Real estate held for investment | 15,994 | 15,757 | 15,365 | 14,352 | 12,706 | 12,532 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Less: accumulated depreciation | |||||||||||||||||||||
6,836 | 6,242 | 5,762 | 5,136 | 4,590 | 4,131 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Less: accumulated depreciation | 6,836 | 6,242 | 5,762 | 5,136 | 4,590 | 4,131 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Real estate held for investment, net | |||||||||||||||||||||
9,157 | 9,514 | 9,603 | 9,215 | 8,116 | 8,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Real estate held for investment, net | 9,157 | 9,514 | 9,603 | 9,215 | 8,116 | 8,400 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Real estate under development (net of accumulated depreciation of $0 and $0, respectively) | |||||||||||||||||||||
- | 160 | 189 | 388 | 246 | 69 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Real estate under development (net of accumulated depreciation of $0 and $0, respectively) | - | 160 | 189 | 388 | 246 | 69 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Real estate held for disposition (net of accumulated depreciation of $79,664 and $0, respectively) | |||||||||||||||||||||
154 | 81 | 14 | - | 102 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Real estate held for disposition (net of accumulated depreciation of $79,664 and $0, respectively) | 154 | 81 | 14 | - | 102 | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total real estate owned, net of accumulated depreciation | |||||||||||||||||||||
9,312 | 9,756 | 9,807 | 9,603 | 8,466 | 8,470 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total real estate owned, net of accumulated depreciation | 9,312 | 9,756 | 9,807 | 9,603 | 8,466 | 8,470 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total real estate owned, net of accumulated depreciation | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total real estate owned, net of accumulated depreciation | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Cash and cash equivalents | |||||||||||||||||||||
1 | 2 | 1 | 0 | 1 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Cash and cash equivalents | 1 | 2 | 1 | 0 | 1 | 8 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Restricted cash | |||||||||||||||||||||
34 | 31 | 29 | 27 | 22 | 25 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Restricted cash | 34 | 31 | 29 | 27 | 22 | 25 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Notes receivable, net | |||||||||||||||||||||
247 | 228 | 54 | 26 | 157 | 153 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Notes receivable, net | 247 | 228 | 54 | 26 | 157 | 153 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred financing costs, net | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred financing costs, net | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Investment in and advances to unconsolidated joint ventures, net | |||||||||||||||||||||
917 | 952 | 754 | 702 | 600 | 588 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Investment in and advances to unconsolidated joint ventures, net | 917 | 952 | 754 | 702 | 600 | 588 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease right-of-use assets | |||||||||||||||||||||
186 | 190 | 194 | 197 | 200 | 204 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease right-of-use assets | 186 | 190 | 194 | 197 | 200 | 204 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Marketable securities | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Marketable securities | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Other assets | |||||||||||||||||||||
197 | 209 | 197 | 216 | 188 | 186 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Other assets | 197 | 209 | 197 | 216 | 188 | 186 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total assets | |||||||||||||||||||||
10,897 | 11,373 | 11,038 | 10,775 | 9,637 | 9,636 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total assets | 10,897 | 11,373 | 11,038 | 10,775 | 9,637 | 9,636 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
LIABILITIES AND EQUITY | |||||||||||||||||||||
Liabilities: | |||||||||||||||||||||
Secured debt, net | |||||||||||||||||||||
1,139 | 1,277 | 1,052 | 1,057 | 862 | 1,149 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Secured debt, net | 1,139 | 1,277 | 1,052 | 1,057 | 862 | 1,149 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Secured debt - real estate held for sale | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Secured debt - real estate held for sale | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Unsecured debt, net | |||||||||||||||||||||
4,687 | 4,520 | 4,435 | 4,355 | 4,114 | 3,558 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Unsecured debt, net | 4,687 | 4,520 | 4,435 | 4,355 | 4,114 | 3,558 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Operating lease liabilities | |||||||||||||||||||||
182 | 185 | 189 | 192 | 195 | 198 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Operating lease liabilities | 182 | 185 | 189 | 192 | 195 | 198 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Real estate taxes payable | |||||||||||||||||||||
46 | 47 | 37 | 33 | 29 | 29 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Real estate taxes payable | 46 | 47 | 37 | 33 | 29 | 29 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accrued interest payable | |||||||||||||||||||||
52 | 47 | 46 | 45 | 44 | 45 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accrued interest payable | 52 | 47 | 46 | 45 | 44 | 45 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Security deposits and prepaid rent | |||||||||||||||||||||
61 | 50 | 51 | 55 | 49 | 48 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Security deposits and prepaid rent | 61 | 50 | 51 | 55 | 49 | 48 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Distributions payable | |||||||||||||||||||||
151 | 149 | 134 | 124 | 115 | 109 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Distributions payable | 151 | 149 | 134 | 124 | 115 | 109 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accounts payable, accrued expenses, and other liabilities | |||||||||||||||||||||
115 | 141 | 153 | 136 | 110 | 90 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accounts payable, accrued expenses, and other liabilities | 115 | 141 | 153 | 136 | 110 | 90 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Deferred fees and gains on the sale of depreciable property | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Deferred fees and gains on the sale of depreciable property | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities | |||||||||||||||||||||
6,436 | 6,420 | 6,100 | 6,001 | 5,522 | 5,228 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities | 6,436 | 6,420 | 6,100 | 6,001 | 5,522 | 5,228 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Commitments and contingencies (Note 13) | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Commitments and contingencies (Note 13) | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | |||||||||||||||||||||
1,017 | 961 | 839 | 1,299 | 856 | 1,018 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | 1,017 | 961 | 839 | 1,299 | 856 | 1,018 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Equity: | |||||||||||||||||||||
Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | |||||||||||||||||||||
- | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | - | - | - | - | - | - | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Common stock, $0.01 par value; 450,000,000 shares authorized at June 30, 2026 and December 31, 2025: 321,266,356 and 328,273,044 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | |||||||||||||||||||||
3 | 3 | 3 | 3 | 2 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Common stock, $0.01 par value; 450,000,000 shares authorized at June 30, 2026 and December 31, 2025: 321,266,356 and 328,273,044 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 3 | 3 | 3 | 3 | 2 | 2 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Additional paid-in capital | |||||||||||||||||||||
7,572 | 7,493 | 7,493 | 6,884 | 5,881 | 5,781 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Additional paid-in capital | 7,572 | 7,493 | 7,493 | 6,884 | 5,881 | 5,781 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Distributions in excess of net income | |||||||||||||||||||||
4,179 | 3,554 | 3,451 | 3,485 | 2,685 | 2,462 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Distributions in excess of net income | 4,179 | 3,554 | 3,451 | 3,485 | 2,685 | 2,462 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Accumulated other comprehensive income/(loss), net | |||||||||||||||||||||
3 | 4 | 8 | -4 | -9 | -10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Accumulated other comprehensive income/(loss), net | 3 | 4 | 8 | -4 | -9 | -10 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total stockholders' equity | |||||||||||||||||||||
3,443 | 3,991 | 4,098 | 3,442 | 3,234 | 3,358 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total stockholders' equity | 3,443 | 3,991 | 4,098 | 3,442 | 3,234 | 3,358 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Noncontrolling interests | |||||||||||||||||||||
0 | 0 | 0 | 31 | 24 | 30 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Noncontrolling interests | 0 | 0 | 0 | 31 | 24 | 30 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total equity | |||||||||||||||||||||
3,443 | 3,991 | 4,098 | 3,474 | 3,258 | 3,389 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total equity | 3,443 | 3,991 | 4,098 | 3,474 | 3,258 | 3,389 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Total liabilities and equity | |||||||||||||||||||||
10,897 | 11,373 | 11,038 | 10,775 | 9,637 | 9,636 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Total liabilities and equity | 10,897 | 11,373 | 11,038 | 10,775 | 9,637 | 9,636 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
8.00% Series E Cumulative Convertible Preferred Stock | |||||||||||||||||||||
Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | |||||||||||||||||||||
43 | 44 | 44 | 44 | 44 | 46 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 43 | 44 | 44 | 44 | 44 | 46 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||
Series F | |||||||||||||||||||||
Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | |||||||||||||||||||||
0 | 0 | 0 | 0 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | ||||||
Preferred stock, no par value; 50,000,000 shares authorized at June 30, 2026 and December 31, 2025: 8.00% Series E Cumulative Convertible; 2,600,678 and 2,600,678 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively, Series F; 9,778,769 and 10,105,845 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively | 0 | 0 | 0 | 0 | 0 | 0 | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | xxxxx | |||||