| Schedule of rental income and NOI for UDRs reportable segments and reconciliation of NOI to Net income/(loss) |
The following table details rental income and NOI for UDR’s reportable segments for the three and six months ended June 30, 2026 and 2025, and reconciles NOI to Net income/(loss) attributable to UDR, Inc. on the Consolidated Statements of Operations (dollars in thousands): | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, (a) | | June 30, (b) | | | 2026 | | 2025 | | 2026 | | 2025 | Reportable apartment home segment lease revenue | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 125,464 | | $ | 121,061 | | $ | 249,048 | | $ | 241,365 | Northeast Region | | | 83,108 | | | 80,548 | | | 165,005 | | | 160,635 | Mid-Atlantic Region | | | 78,179 | | | 77,206 | | | 155,617 | | | 154,421 | Southeast Region | | | 52,084 | | | 52,973 | | | 104,065 | | | 106,079 | Southwest Region | | | 47,511 | | | 48,415 | | | 93,257 | | | 95,092 | Non-Mature Communities/Other | | | 20,661 | | | 27,499 | | | 48,737 | | | 55,368 | Total segment and consolidated lease revenue | | $ | 407,007 | | $ | 407,702 | | $ | 815,729 | | $ | 812,960 | | | | | | | | | | | | | | Reportable apartment home segment other revenue | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 3,272 | | $ | 3,225 | | $ | 6,233 | | $ | 6,377 | Northeast Region | | | 2,355 | | | 2,427 | | | 4,419 | | | 4,593 | Mid-Atlantic Region | | | 3,775 | | | 3,505 | | | 7,316 | | | 6,815 | Southeast Region | | | 3,324 | | | 3,033 | | | 6,292 | | | 5,896 | Southwest Region | | | 2,614 | | | 2,318 | | | 4,866 | | | 4,577 | Non-Mature Communities/Other | | | 586 | | | 791 | | | 1,399 | | | 1,619 | Total segment and consolidated other revenue | | $ | 15,926 | | $ | 15,299 | | $ | 30,525 | | $ | 29,877 | | | | | | | | | | | | | | Total reportable apartment home segment rental income | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 128,736 | | $ | 124,286 | | $ | 255,281 | | $ | 247,742 | Northeast Region | | | 85,463 | | | 82,975 | | | 169,424 | | | 165,228 | Mid-Atlantic Region | | | 81,954 | | | 80,711 | | | 162,933 | | | 161,236 | Southeast Region | | | 55,408 | | | 56,006 | | | 110,357 | | | 111,975 | Southwest Region | | | 50,125 | | | 50,733 | | | 98,123 | | | 99,669 | Non-Mature Communities/Other | | | 21,247 | | | 28,290 | | | 50,136 | | | 56,987 | Total segment and consolidated rental income | | $ | 422,933 | | $ | 423,001 | | $ | 846,254 | | $ | 842,837 | | | | | | | | | | | | | | Total reportable apartment home segment direct property rental expenses | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | Personnel | | $ | 18,715 | | $ | 18,103 | | $ | 38,184 | | $ | 36,802 | Utilities | | | 18,155 | | | 17,261 | | | 38,236 | | | 35,813 | Repair and maintenance | | | 25,138 | | | 24,950 | | | 50,570 | | | 48,806 | Administrative and marketing | | | 9,892 | | | 9,638 | | | 19,631 | | | 18,928 | Real estate taxes | | | 49,149 | | | 47,825 | | | 99,713 | | | 97,446 | Insurance | | | 5,024 | | | 5,066 | | | 10,132 | | | 9,999 | Non-Mature Communities/Other (c) | | | 7,104 | | | 9,778 | | | 17,302 | | | 19,562 | Total segment and consolidated direct property rental expenses | | $ | 133,177 | | $ | 132,621 | | $ | 273,768 | | $ | 267,356 | | | | | | | | | | | | | | Reportable apartment home segment NOI | | | | | | | | | | | | | Same-Store Communities | | | | | | | | | | | | | West Region | | $ | 95,716 | | $ | 92,529 | | $ | 186,392 | | $ | 182,786 | Northeast Region | | | 55,745 | | | 53,933 | | | 108,501 | | | 106,391 | Mid-Atlantic Region | | | 55,608 | | | 55,302 | | | 109,759 | | | 110,202 | Southeast Region | | | 37,451 | | | 38,251 | | | 74,263 | | | 76,434 | Southwest Region | | | 31,093 | | | 31,853 | | | 60,737 | | | 62,243 | Non-Mature Communities/Other | | | 14,143 | | | 18,512 | | | 32,834 | | | 37,425 | Total segment and consolidated NOI | | | 289,756 | | | 290,380 | | | 572,486 | | | 575,481 |
| | | | | | | | | | | | | Reconciling items: | | | | | | | | | | | | | Joint venture management and other fees | | | 2,466 | | | 2,398 | | | 4,994 | | | 4,510 | Property management | | | (13,745) | | | (13,747) | | | (27,503) | | | (27,392) | Other operating expenses | | | (12,966) | | | (7,753) | | | (22,381) | | | (15,812) | Real estate depreciation and amortization | | | (160,120) | | | (163,191) | | | (321,388) | | | (324,585) | General and administrative | | | (18,714) | | | (19,929) | | | (38,078) | | | (39,424) | Casualty-related (charges)/recoveries, net | | | (3,073) | | | (3,382) | | | (8,802) | | | (6,679) | Other depreciation and amortization | | | (3,451) | | | (7,387) | | | (6,786) | | | (14,454) | Gain/(loss) on sale of real estate owned | | | 35,704 | | | — | | | 193,120 | | | 47,939 | Income/(loss) from unconsolidated entities | | | 3,271 | | | 3,629 | | | 22,967 | | | 9,443 | Interest expense | | | (47,640) | | | (48,665) | | | (96,216) | | | (96,366) | Interest income and other income/(expense), net | | | 2,596 | | | 8,134 | | | 5,030 | | | 10,055 | Tax (provision)/benefit, net | | | (429) | | | (258) | | | (884) | | | (416) | Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | | | (4,609) | | | (2,545) | | | (17,670) | | | (7,884) | Net (income)/loss attributable to noncontrolling interests | | | (11) | | | (11) | | | (23) | | | (23) | Net income/(loss) attributable to UDR, Inc. | | $ | 69,035 | | $ | 37,673 | | $ | 258,866 | | $ | 114,393 |
| (a) | Same-Store Community population consisted of 52,426 apartment homes. |
| (b) | Same-Store Community population consisted of 52,341 apartment homes |
| (c) | Non-Mature Communities/Other direct property rental expenses include costs to manage recently acquired, developed and redeveloped communities, and the non-apartment components of mixed-use properties. |
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| Schedule of details of assets of UDR's reportable segments |
The following table details the assets of UDR’s reportable segments as of June 30, 2026 and December 31, 2025 (dollars in thousands): | | | | | | | | | June 30, | | December 31, | | | 2026 | | 2025 | Reportable apartment home segment assets: | | | | | | | Same-Store Communities (a): | | | | | | | West Region | | $ | 4,582,531 | | $ | 4,548,969 | Northeast Region | | | 3,857,146 | | | 3,835,341 | Mid-Atlantic Region | | | 3,282,974 | | | 3,268,160 | Southeast Region | | | 1,629,719 | | | 1,612,705 | Southwest Region | | | 1,819,538 | | | 1,809,292 | Non-Mature Communities/Other | | | 1,223,977 | | | 1,413,418 | Total segment assets | | | 16,395,885 | | | 16,487,885 | Accumulated depreciation | | | (7,518,827) | | | (7,374,546) | Total segment assets — net book value | | | 8,877,058 | | | 9,113,339 | Reconciling items: | | | | | | | Cash and cash equivalents | | | 1,193 | | | 1,222 | Restricted cash | | | 34,936 | | | 35,710 | Notes receivable, net | | | 171,667 | | | 149,979 | Investment in and advances to unconsolidated joint ventures, net | | | 728,837 | | | 886,492 | Operating lease right-of-use assets | | | 185,647 | | | 187,624 | Other assets | | | 266,010 | | | 231,308 | Total consolidated assets | | $ | 10,265,348 | | $ | 10,605,674 |
| (a) | Same-Store Community population consisted of 52,426 apartment homes. |
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