UDR Investor Presentation
UDR AT A GLANCE(1)(2)
UDR is a full-cycle investment that consistently generates strong total shareholder return ("TSR") through innovation, best-in-
class operations, and disciplined capital allocation.
50 Year
History
S&P 500
Multifamily
REIT
~59,000
Apartment
Homes
21 Markets
$20.6B EV
4.1%
Dividend
Yield
Full-Cycle Continuous
Investment Innovation
10-Year
15-Year
20-Year
Outsized Same-Store NOI Growth (3)
Robust Relative TSR
3.9% 4.4%
10-Year
6.0%
3.6% 4.1%
15-Year
3.8% 4.2%
20-Year
1.0%
2.0%
3.0%
4.0%
5.0%
2.0%
4.0%
Peer Median CAGR
OUDR CAGR
9.1%
6.3%
8.2%
9.2% 9.8%
6.0%
8.0%
10.0%
ONAREIT Equity Index CAGR UDR CAGR
Sustainable Dividends That Grow Over Time
$2.00
202
Consecutive Dividends Paid
$1.60
6.7% CAGR since 2010
$1.20
$0.72
$0.80
$0.40
$1.68
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
(1)
As of March 31, 2023, except otherwise noted.
(2)
(3)
Enterprise Value and Dividend Yield as of May 12, 2023. Dividend Yield is based on UDR's 2023 annualized dividend of $1.68 per share.
Peer group includes AIRC (AIV prior to 2021), AVB, CPT, EQR, ESS and MAA; 2Q 2020 through 1Q 2023 UDR same-store NOI results have been adjusted where appropriate to reflect concessions on a straightline basis for peer comparability.
Source: Company and peer documents, Nareit.
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