Udr, inc. (UDR)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Sep'09Jun'09
REVENUES:
Rental income

320,093

302,745

289,008

278,463

267,922

264,732

263,256

256,634

250,483

-

248,264

-

-

240,081

240,255

236,168

231,957

234,352

217,765

212,764

207,047

206,104

203,587

200,959

194,352

190,321

187,917

186,285

181,961

173,218

181,766

177,475

172,242

161,381

163,859

150,637

137,812

70,611

150,139

146,647

145,153

149,756

151,844

Joint venture management and other fees

1,388

2,073

6,386

2,845

2,751

2,935

2,888

3,109

2,822

2,764

2,827

3,321

2,570

2,927

2,997

2,618

2,858

3,253

3,653

3,098

12,706

3,445

3,165

2,747

3,687

3,095

3,207

3,217

2,923

2,885

3,320

2,717

2,989

-2,950

5,229

2,853

4,536

6,783

2,192

2,056

1,471

1,627

3,958

Rental income

-

-

-

-

-

-

-

-

-

-

-

244,658

241,271

-

243,252

238,786

234,815

237,605

221,418

215,862

219,753

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Total revenues

321,481

304,818

295,394

281,308

270,673

267,667

266,144

259,743

253,305

252,880

251,091

247,979

243,841

-

-

-

-

-

-

-

-

209,549

206,752

203,706

198,039

193,416

191,124

189,502

184,884

176,103

185,086

180,192

175,231

158,431

169,088

153,490

142,348

77,394

152,331

148,703

146,624

151,383

155,802

Property operating and maintenance

49,483

47,245

46,869

42,894

41,939

42,949

44,090

41,452

40,587

42,086

42,362

40,612

39,600

40,075

41,852

38,574

39,446

41,174

39,478

37,194

37,250

36,782

39,086

36,840

36,720

36,659

36,686

36,153

34,821

32,949

36,839

35,607

34,389

-

-

-

-

-

-

-

-

-

-

Expenses related to tender offer

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3,764

-

Real estate taxes and insurance

45,145

40,264

38,490

35,834

36,300

34,371

34,352

31,907

33,282

30,354

31,181

29,423

30,188

28,726

28,047

30,279

28,377

26,881

24,722

25,138

26,222

25,331

24,697

23,716

25,431

23,477

24,080

22,916

23,292

21,075

22,633

21,535

20,911

19,894

19,949

17,503

17,661

7,739

17,832

18,327

18,828

18,838

18,843

Property management

9,203

8,703

8,309

8,006

7,703

7,280

7,240

7,057

6,888

6,878

6,827

6,728

6,635

6,603

6,607

6,494

6,379

6,445

5,988

5,851

5,694

5,668

5,598

5,527

5,345

5,233

5,168

5,123

5,004

4,763

4,998

4,880

4,737

4,436

4,507

4,142

3,790

1,941

4,129

4,033

3,992

4,119

4,176

Personnel

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,153

12,531

11,857

4,255

13,945

13,518

13,077

12,975

12,782

Utilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,898

7,876

7,721

3,546

8,537

7,652

8,382

8,183

7,350

Repair and maintenance

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,869

7,795

7,250

2,921

9,211

8,177

7,598

8,295

7,899

Administrative and marketing

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,958

3,454

3,103

514

3,904

3,824

3,721

3,617

3,584

Other operating expenses

4,966

2,800

2,751

2,735

5,646

3,952

3,314

2,825

2,009

3,050

1,950

2,369

1,691

2,369

1,636

1,892

1,752

3,534

2,639

1,769

1,766

2,174

2,009

2,162

1,926

1,925

1,775

1,800

1,636

1,434

1,467

1,434

1,383

1,645

1,495

1,542

1,436

1,428

1,403

1,457

1,485

1,437

2,010

Real estate depreciation and amortization

155,476

143,464

127,391

117,934

112,468

106,469

107,881

106,520

108,136

109,401

107,171

108,450

105,032

102,537

105,802

105,937

105,339

104,909

90,568

90,344

88,777

91,406

89,339

88,876

88,533

88,301

83,738

84,595

82,898

81,322

88,223

84,474

87,907

88,672

85,835

79,908

70,215

35,317

70,880

70,254

69,137

69,561

69,067

General and administrative

14,978

14,531

12,197

12,338

12,467

10,955

11,896

12,373

11,759

11,590

12,467

11,434

13,075

13,256

11,826

10,835

13,844

17,993

15,824

13,721

12,152

11,722

11,554

12,530

11,994

11,532

11,364

9,866

9,476

10,653

10,022

13,738

9,379

11,892

11,860

12,875

10,630

13,316

11,994

10,293

9,640

8,673

8,905

Casualty-related charges/(recoveries), net

1,251

-

-1,088

246

-

-243

678

746

940

586

2,056

1,191

502

-1,102

205

1,629

0

-45

541

843

996

1,041

0

0

-500

6,042

6,460

2,772

-3,021

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other depreciation and amortization

2,025

1,713

1,619

1,678

1,656

1,616

1,682

1,684

1,691

1,648

1,585

1,567

1,608

1,458

1,526

1,486

1,553

1,899

1,457

1,700

1,623

2,117

1,385

1,193

1,080

3,281

1,176

1,138

1,146

1,092

1,078

1,017

918

919

983

986

1,043

1,088

1,224

1,308

1,223

858

1,478

Amortization of convertible debt discount

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

359

359

359

776

859

928

967

967

1,053

Other debt charges/(benefits), net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

7

-40

-4,019

-83

-91

-1,030

0

0

2,736

Storm related (income) expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

Insurance Recoveries

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

Total operating expenses

282,527

260,036

236,538

221,665

218,179

207,349

211,133

204,564

205,292

205,593

205,599

201,774

198,331

193,922

197,501

197,126

196,690

202,790

181,217

176,560

174,480

175,241

173,668

170,844

171,529

170,408

157,527

158,819

155,252

161,783

165,260

162,685

159,624

43,299

197,475

186,272

173,863

111,971

180,138

176,019

173,183

175,196

169,787

Gain/(loss) on sale of real estate owned

-

-

-

5,282

-

65,897

0

0

70,300

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating income

38,954

44,782

58,856

64,925

52,494

126,215

55,011

55,179

118,313

90,691

45,492

46,205

45,510

275,285

45,751

41,660

38,125

34,815

40,201

39,302

45,273

34,308

33,084

32,862

26,510

23,008

33,597

30,683

29,632

14,320

19,826

17,507

15,607

115,132

-28,387

-32,782

-31,515

-34,577

-27,807

-27,316

-26,559

-23,813

-13,985

Income/(loss) from unconsolidated entities

3,367

118,486

12,713

6,625

49

36

-1,382

-2,032

-1,677

19,666

1,819

-1,426

11,198

35,945

15,285

325

679

1,052

2,691

-573

59,159

-2,074

-939

-428

-3,565

5,666

-3,794

515

-2,802

-2,757

-719

-2,412

-2,691

-2,092

-1,580

-1,348

-1,332

-1,447

-835

-1,185

-737

-16,742

-728

Interest
Interest expense

39,317

60,435

42,523

34,417

33,542

38,226

34,401

31,598

29,943

34,211

30,095

33,866

30,539

29,295

31,954

30,678

31,104

33,170

30,232

29,673

28,800

98,560

33,087

31,691

-32,884

95,322

30,939

30,803

-30,981

30,660

31,845

41,542

34,745

44,710

39,616

37,261

34,779

32,244

36,129

35,218

35,133

33,909

35,376

Interest income and other income/(expense), net

2,700

2,406

1,875

1,310

9,813

1,660

1,188

1,128

2,759

548

481

515

427

481

478

540

431

407

402

382

360

-44

9,061

1,426

1,415

1,328

829

1,446

1,016

1,089

1,235

506

694

-

-

-

-

-

-

-

-

-

-

Income/(loss) before income taxes

5,704

105,239

30,921

38,443

28,814

89,685

20,416

22,677

89,452

76,694

17,697

11,428

26,596

282,416

29,560

11,847

8,131

3,104

13,062

9,438

75,992

-602

8,119

2,169

-8,524

-3,358

-307

1,841

-3,135

-18,008

-11,503

-25,941

-21,135

-

-

-

-

-

-

-

-

-

-

Tax (provision)/benefit, net

164

-36

1,499

125

2,212

82

158

233

227

-1,065

127

366

332

-

94

-402

-

-6,348

633

1,404

425

-7,125

-2,492

-2,190

-3,329

-967

-2,658

-2,683

-1,973

7,578

-2,960

-2,818

-22,876

7,512

59

0

0

-

-

-

-

-

0

Income/(loss) from continuing operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6,485

10,611

4,359

-5,195

-3,373

2,351

4,524

-1,162

-16,380

-8,543

-23,123

1,741

-29,866

-30,026

-34,130

-32,847

-33,491

-28,642

-28,501

-27,296

-40,555

-14,713

Income/(loss) from discontinued operations, net of tax

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

79

18

-87

41,375

884

830

853

3,425

-1,133

179,429

84,887

77,984

16,240

49,039

4,191

4,174

4,037

861

2,270

800

2,053

Income/(loss) from continuing operations

-

-

-

-

-

-

-

-

-

-

17,570

11,062

26,264

-

29,466

12,249

8,534

-

13,695

10,842

76,417

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Gain/(loss) on sale of real estate owned, net of tax

-

-

-

-

-

-

-

-

-

-

0

0

2,132

-

0

7,315

3,070

172,635

0

79,042

0

61,267

31,302

26,709

24,294

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income/(loss) before gain/(loss) of real estate owned

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,690

4,377

-5,282

-

3,235

5,354

-309

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income/(loss)

5,540

105,237

29,422

38,318

26,602

89,615

20,258

22,444

89,225

75,627

17,570

11,062

28,396

259,746

29,466

19,564

11,604

177,163

13,695

89,884

76,417

67,752

41,992

31,086

19,012

38,002

3,235

5,354

-309

-12,955

-9,676

156,306

86,628

48,118

-13,786

14,909

-28,656

-29,317

-24,605

-27,640

-25,026

-39,755

-12,660

Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership

313

7,555

2,162

2,652

2,057

7,396

1,616

1,813

7,390

6,326

1,415

854

2,338

22,308

2,459

1,610

905

10,751

405

3,029

2,588

2,340

1,447

1,077

647

1,332

84

159

-45

-658

-687

5,911

3,420

1,587

-581

221

-832

-896

-870

-1,064

-1,005

-

-

Net (income)/loss attributable to noncontrolling interests

6

55

56

47

42

59

32

30

79

93

-35

51

91

15

51

8

306

-3

-1

0

7

-5

-4

2

4

-30

-37

3

4

3

42

43

52

33

46

37

51

-

31

45

-

-1,779

-602

Net Income (Loss) Attributable to Noncontrolling Interest, Other

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

51

-

-

-

35

-

-

Net income/(loss) attributable to UDR, Inc.

5,221

97,639

27,204

35,619

24,503

82,139

18,610

20,601

81,756

69,244

16,190

10,157

25,967

237,423

26,956

17,946

10,393

166,415

13,291

86,855

73,822

65,417

40,549

30,007

18,361

36,700

3,188

5,192

-268

-12,300

-9,031

150,352

83,156

46,498

-13,251

14,651

-27,875

-28,456

-23,766

-26,621

-24,056

-37,976

-12,058

Distributions to preferred stockholders - Series E (Convertible)

1,066

1,031

1,031

1,031

1,011

971

971

971

955

924

926

929

929

930

929

929

929

930

930

931

931

-

931

931

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Premium on preferred stock redemption or repurchases, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-175

-

-

-

25

-

0

0

Net income/(loss) attributable to common stockholders

4,155

96,608

26,173

34,588

23,492

81,168

17,639

19,630

80,801

68,320

15,264

9,228

25,038

236,493

26,027

17,017

9,464

165,485

12,361

85,924

72,891

64,486

39,618

29,076

17,430

35,769

2,257

4,261

-1,199

-13,231

-9,962

145,721

80,848

44,190

-15,559

12,149

-30,243

-30,825

-26,134

-28,968

-26,435

-40,776

-14,858

Common distributions declared per share

-

-

-

-

-

-

-

-

-

-

0.31

0.31

0.31

-

0.29

0.29

0.29

-

0.27

0.28

0.27

-

0.26

0.26

0.26

-

0.23

0.23

0.23

-

0.22

0.22

0.22

-

0.20

0.20

0.18

-

0.18

0.18

0.18

0.18

0.30

Income/(loss) from continuing operations attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.16

0.12

0.07

-0.02

0.01

0.01

-0.01

-0.04

-0.04

-0.12

-0.02

-0.12

-0.15

-0.19

-0.19

-0.20

-0.18

-0.19

-0.18

-0.28

-0.11

Income/(loss) from discontinued operations attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.17

0.00

0.00

0.00

-0.05

0.00

0.74

0.38

0.35

0.08

0.26

0.02

0.03

0.02

0.01

0.01

0.01

0.01

Income/(loss) per weighted average common share - basic

0.01

0.34

0.09

0.12

0.08

0.30

0.07

0.07

0.30

0.26

0.06

0.03

0.09

0.89

0.10

0.06

0.04

0.64

0.05

0.33

0.28

0.25

0.16

0.12

0.07

0.13

0.01

0.02

0.00

-

-0.04

0.62

-

-

-

-

-

-

-

-

-0.17

-0.27

-0.10

Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,077

1,936

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income/(loss) from continuing operations attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.16

0.12

0.07

-0.02

0.01

0.01

-0.01

-

-0.04

-0.12

-

-

-

-

-

-

-

-

-0.18

-0.28

-0.11

Income/(loss) from discontinued operations attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.00

0.00

0.00

0.17

0.00

0.00

0.00

-

0.00

0.74

-

-

-

-

-

-

-

-

0.01

0.01

0.01

Income/(loss) per weighted average common share - diluted

0.01

0.34

0.09

0.12

0.08

0.30

0.07

0.07

0.30

0.26

0.06

0.03

0.09

0.88

0.10

0.06

0.04

0.63

0.05

0.33

0.28

0.24

0.16

0.12

0.07

0.13

0.01

0.02

0.00

-

-0.04

0.62

-

-

-

-

-

-

-

-

-0.17

-0.27

-0.10

Weighted average number of common shares outstanding:
Weighted average number of common shares outstanding - Basic

294,457

293,320

288,706

281,960

277,002

270,132

267,727

267,311

267,546

267,278

267,056

266,972

266,790

266,519

266,301

266,268

262,456

260,879

259,114

257,849

256,834

254,025

251,655

250,255

250,177

249,989

249,985

249,985

249,917

-

249,825

234,031

-

-

-

-

-

-

-

-

156,131

150,000

149,444

Weighted average number of common shares outstanding - diluted

295,160

294,399

289,529

282,575

277,557

270,973

268,861

268,890

269,208

268,711

269,062

268,859

268,688

268,480

268,305

268,174

264,285

272,333

261,207

262,806

258,662

256,035

253,732

252,191

251,822

247,099

251,454

251,406

249,917

-

249,825

234,031

-

-

-

-

-

-

-

-

156,131

150,000

149,444

Net (loss)/income attributable to common stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0.37

0.23

-0.07

0.06

-0.17

-

-0.16

-0.18

-

-

-

Weighted average number of common shares outstanding  basic and diluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

249,825

234,031

221,500

218,350

213,816

190,479

182,531

-

165,403

160,886

-

-

-