CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| REVENUES: | ||||
| Rental income | $ 413,328 | $ 403,098 | $ 824,997 | $ 801,405 |
| Joint venture management and other fees | $ 1,992 | $ 1,450 | $ 3,957 | $ 2,692 |
| Type of revenue | udr:ManagementAndOtherFeesMember | udr:ManagementAndOtherFeesMember | udr:ManagementAndOtherFeesMember | udr:ManagementAndOtherFeesMember |
| Total revenues | $ 415,320 | $ 404,548 | $ 828,954 | $ 804,097 |
| OPERATING EXPENSES: | ||||
| Property operating and maintenance | 70,443 | 68,861 | 143,921 | 133,695 |
| Real estate taxes and insurance | 58,884 | 57,516 | 117,679 | 115,486 |
| Property management | 13,433 | 13,101 | 26,812 | 26,046 |
| Other operating expenses | 7,593 | 4,259 | 14,421 | 7,291 |
| Real estate depreciation and amortization | 170,488 | 168,925 | 340,346 | 338,225 |
| General and administrative | 20,136 | 16,452 | 37,946 | 33,932 |
| Casualty-related charges/(recoveries), net | 998 | 1,134 | 7,276 | 5,290 |
| Other depreciation and amortization | 4,679 | 3,681 | 8,995 | 7,330 |
| Total operating expenses | 346,654 | 333,929 | 697,396 | 667,295 |
| Gain/(loss) on sale of real estate owned | 325,884 | 16,867 | 325,885 | |
| Operating income | 68,666 | 396,503 | 148,425 | 462,687 |
| Income/(loss) from unconsolidated entities | 4,046 | 9,697 | 13,131 | 19,404 |
| Interest expense | (47,811) | (45,113) | (95,873) | (88,855) |
| Interest income and other income/(expense), net | 6,498 | 10,447 | 12,363 | 11,457 |
| Income/(loss) before income taxes | 31,399 | 371,534 | 78,046 | 404,693 |
| Tax (provision)/benefit, net | (386) | (1,351) | (723) | (1,585) |
| Net income/(loss) | 31,013 | 370,183 | 77,323 | 403,108 |
| Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | (2,013) | (22,630) | (5,162) | (24,583) |
| Net (income)/loss attributable to noncontrolling interests | (117) | (8) | (129) | (16) |
| Net income/(loss) attributable to UDR, Inc. | 28,883 | 347,545 | 72,032 | 378,509 |
| Distributions to preferred stockholders - Series E (Convertible) | (1,210) | (1,222) | (2,441) | (2,405) |
| Net income/(loss) attributable to common stockholders | $ 27,673 | $ 346,323 | $ 69,591 | $ 376,104 |
| Income/(loss) per weighted average common share - basic | $ 0.08 | $ 1.05 | $ 0.21 | $ 1.14 |
| Income/(loss) per weighted average common share - diluted | $ 0.08 | $ 1.05 | $ 0.21 | $ 1.14 |
| Weighted average number of common shares outstanding - basic | 329,056 | 328,957 | 328,940 | 328,871 |
| Weighted average number of common shares outstanding - diluted | 329,572 | 332,480 | 329,334 | 332,412 |
| X | ||||||||||
- Definition Casualty-Related (Recoveries)/Charges, net No definition available.
|
| X | ||||||||||
- Definition The operating costs related to management of owned property. No definition available.
|
| X | ||||||||||
- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of expense incurred and directly related to generating revenue by lessor from operating lease of rented property and equipment. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The net gain (loss) resulting from sales and other disposals of real estate owned for investment purposes. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense for debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Portion of net income (loss) attributable to nonredeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of Net Income (Loss) attributable to redeemable noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of expense charged against earnings to allocate the cost of tangible and intangible assets over their remaining economic lives, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate total of real estate taxes and insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Indicates type of revenue from product and service. Includes, but is not limited to, revenue from contract with customer and other sources. No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|