Real Estate · Multi-Family Residential REITs · US stock · price as of 22 Oct 2026
Key indicators
Price
$36.18
52-week range
$32.94 – $42.00
Market cap
$12.0B
P/E (trailing)
24.4×
EV / EBITDA
17.5×
Free-cash-flow yield
7.3%
Dividend yield
4.0%
Revenue (last 12 months)
$1.7B
Revenue growth (3y a year)
4.1%
Operating margin
38.5%
Return on invested capital
6.5%
Net debt / EBITDA
5.8×
Fair value
Fair value (average of valid models)$39.41 middle half of models $39 – $40
Versus priceFair+9% to fair value
P/B multiple
$36.21
P/S multiple
$39.93
P/FFO multiple
$41.58
P/AFFO multiple
$39.92
Model uncertainty
High
X-Ray Score
50/ 100 · Medium confidence · ahead of 45% of sector peers
Valuation55
Growth53
Profitability43
Financial health50
Dividends47
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
UDR is a real estate investment trust that owns, operates and develops apartment communities in markets across the United States. It leases apartments to residents, typically for about a year at a time. Revenue comes mostly from rent, supplemented by fees and other property income, and results are shaped by occupancy, rental rates in each metropolitan area and the costs of operating and maintaining the properties.
UDR, Inc. generated $1.7 billion of revenue in the last twelve months, with sales that grew 4.1% a year over the past three years. Net debt to EBITDA is 5.8 times. The operating margin is 38.5% and the return on invested capital is 7%. The company pays a dividend with a yield of 4.0%.
StocksXray gives UDR, Inc. an X-Ray Score of 50 out of 100 (medium confidence), ahead of 45% of the S&P 500 stocks in its sector. Its strongest lens is valuation (55) and its weakest is profitability (43).
Our fair value (the average of the valid models) is $39.41 (range $38.99 to $40.34). At $36.18 the stock trades 8% below that value, so the label is "Fair" with high model uncertainty. Fair value is a range, not a price target.
XStocksXray
UDR, Inc. (UDR)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$49.38
$32.87
$33.90
$40.09
$35.39
$36.18
Market cap
$14.9B
$10.6B
$11.2B
$13.2B
$11.7B
$12.0B
P/E
102.9×
126.4×
25.3×
154.2×
31.3×
24.4×
EV / revenue
15.8×
10.6×
10.4×
11.4×
10.2×
10.3×
EV / EBITDA
22.9×
17.3×
12.8×
19.4×
14.2×
17.5×
Price / free cash flow
22.4×
12.9×
13.4×
15.1×
13.0×
13.7×
Free-cash-flow yield
4.5%
7.7%
7.5%
6.6%
7.7%
7.3%
Price / book
4.3×
2.6×
2.8×
3.8×
3.6×
3.6×
Dividend yield
2.94%
4.62%
4.96%
4.24%
4.86%
3.99%
Fundamentals checklist ● 3 Good · ● 6 Average · ● 2 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−3.7%Average
Risk models
Piotroski F-Score7 of 9Good
Growth
EPS growth (3y)63.2%Good
Revenue growth (3y)4.1%Bad
Growth consistency100%Good
Balance sheet
Net debt / EBITDA5.8×Bad
Interest cover3.3×Average
Valuation
Fair value vs price1.1×Average
EBIT / EV yield3.7%Average
Profitability
Return on invested capital6.5%Average
Operating margin38.5%Average
XStocksXray
UDR, Inc. (UDR)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
1,291
1,517
1,628
1,672
1,712
1,716
Gross profit
–
–
–
–
–
–
Operating income
268
251
635
285
554
661
Net income
150
87
444
90
378
491
Diluted EPS ($)
0.48
0.26
1.34
0.26
1.13
1.48
Free cash flow
664
820
833
877
903
875
Gross margin
–
–
–
–
–
–
Operating margin
20.8%
16.5%
39.0%
17.0%
32.3%
38.5%
Net margin
11.6%
5.7%
27.3%
5.4%
22.1%
28.6%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
10,775
11,038
11,373
10,898
10,606
10,334
Cash
1
1
3
1
1
1
Total debt
5,413
5,487
5,799
5,827
5,821
5,663
Equity
3,443
4,098
3,991
3,443
3,288
3,286
Dividend per share ($)
1.45
1.52
1.68
1.70
1.72
1.73
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
