finanzen.net
26.03.2020 21:16

UDR Provides Update on COVID-19

Werbung

UDR, Inc. (the "Company”) (NYSE: UDR), a leading multifamily real estate investment trust, announced today that it expects first quarter 2020 results to be in-line with previously announced guidance. Due to uncertainty around the economic impact of the novel coronavirus (COVID-19) pandemic and related government actions and regulations on the Company’s financial results, UDR will address full-year 2020 guidance on the Company’s first quarter 2020 earnings conference call.

Supporting our Residents and Associates: Since the COVID-19 outbreak began, the Company has actively implemented a variety of policies and procedures to accommodate and assist our Residents, Commercial Tenants, and Associates, the safety of whom is our priority. These include:

  • Implementing best practices, including:
    • Following the guidelines established by the Centers for Disease Control and Prevention (CDC) and World Health Organization (WHO) to protect our Residents and Associates;
    • Limiting face-to-face interaction and practicing "social distancing” by reducing on-site leasing office staff (where office staff are allowed), closing leasing offices to only UDR Associates, closing all amenity spaces, and reducing on-site maintenance staff by focusing only on emergency needs;
    • Leveraging the Company’s existing electronic platform, through which the majority of our Residents continue to interact with us on-line in a variety of ways including, but not limited to, paying rent, initiating service requests, and social interaction.
    • Shifting all property/home tours to be self-guided or virtual, which is enabled by the Company’s Next Generation Operating Platform;
    • Maintaining consistent communication with our Associates, including providing regularly-updated FAQs to understand policies and follow best practices in the field; and
    • Providing our Associates flexibility around leave and sick time to help meet personal needs resulting from COVID-19.
  • Aligning our operational policies with state and local regulations, which include eviction moratoriums in various markets.
  • Accommodating in a wide variety of ways Residents, Commercial Tenants, and Associates impacted by COVID-19 as needed.

"I want to thank all our Associates for their hard work and dedication during these challenging times. Our day-to-day focus remains on supporting our Associates across the country so they can continue to provide a high level of service and compassion to our Residents,” said Tom Toomey, UDR’s Chairman and Chief Executive Officer. "Our current occupancy remains strong at 97%, which is in-line with expectations. While it is too early to quantify the financial impacts COVID-19 will ultimately have on our business, we have a strong culture, a robust balance sheet, and ample liquidity to continue to advance our strategic goals. This positions UDR well to weather the recent economic and market challenges.”

Capital Markets, Liquidity, and Balance Sheet Strength: Over the last several years, the Company has consistently strengthened its balance sheet and improved its liquidity profile. Recent highlights include:

  • Quarter-to-date, and prior to the recent equity market sell-off, UDR entered into forward sales agreements under the Company’s at-the-market equity program for approximately 2.1 million common shares at an initial forward price per share of $49.56, which will be adjusted at settlement to reflect the then-current federal funds rate and the amount of dividends paid to holders of UDR common stock over the term of the forward sales agreements. No shares under the forward sales agreements have been settled. The final dates by which shares sold under the forward sales agreements must be settled range between February 12, 2021, and March 3, 2021;
  • The Company is under contract, with hard money deposits, to sell two wholly-owned operating communities located in Greater Seattle, WA, for an aggregate sales price of approximately $142 million. These transactions are expected to close during the second quarter, subject to customary closing conditions and closing price adjustments;
  • The Company has in place a combined $1.175 billion Revolving Credit Facility and Working Capital Credit Facility, with approximately $900 million in available capacity at this time. The Company’s Revolving Credit Facility has a scheduled maturity in 2023, with options to extend maturity into 2024;
  • Only 2%, or $105 million, of the Company’s consolidated debt outstanding is scheduled to mature through 2022 (excluding Commercial Paper and amounts due under the Company’s $75 Million Working Capital Credit Facility);
  • The Company’s unencumbered asset pool comprises 87.5% of total NOI; and
  • The Company has minimal external growth funding commitments with a development pipeline constituting less than 2% of Enterprise Value as of March 25, 2020. Further, UDR has made no additional acquisitions or Developer Capital Commitments since the Company’s last Investor Presentation was filed on February 28, 2020.

Forward Looking Statements

Certain statements made in this press release may constitute "forward-looking statements.” Words such as "expects,” "intends,” "believes,” "anticipates,” "plans,” "likely,” "will,” "seeks,” "estimates” and variations of such words and similar expressions are intended to identify such forward-looking statements. Forward-looking statements, by their nature, involve estimates, projections, goals, forecasts and assumptions and are subject to risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in a forward-looking statement, due to a number of factors, which include, but are not limited to, the impact of the COVID-19 pandemic, unfavorable changes in the apartment market, changing economic conditions, the impact of inflation/deflation on rental rates and property operating expenses, expectations concerning availability of capital and the stabilization of the capital markets, the impact of competition and competitive pricing, acquisitions, developments and redevelopments not achieving anticipated results, delays in completing developments, redevelopments and lease-ups on schedule, expectations on job growth, home affordability and demand/supply ratio for multifamily housing, expectations concerning development and redevelopment activities, expectations on occupancy levels and rental rates, expectations concerning the joint ventures with third parties, expectations that technology will help grow net operating income, expectations on annualized net operating income and other risk factors discussed in documents filed by the Company with the SEC from time to time, including the Company's Annual Report on Form 10-K and the Company's Quarterly Reports on Form 10-Q. Actual results may differ materially from those described in the forward-looking statements. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release, and the Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein, to reflect any change in the Company's expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based, except to the extent otherwise required under the U.S. securities laws.

About UDR, Inc.

UDR, Inc. (NYSE: UDR), an S&P 500 company, is a leading multifamily real estate investment trust with a demonstrated performance history of delivering superior and dependable returns by successfully managing, buying, selling, developing and redeveloping attractive real estate properties in targeted U.S. markets. As of December 31, 2019, UDR owned or had an ownership position in 51,294 apartment homes including 878 homes under development. For over 47 years, UDR has delivered long-term value to shareholders, the best standard of service to Residents and the highest quality experience for Associates.

Nachrichten zu UDR Inc

  • Relevant
  • Alle
  • vom Unternehmen
  • Peer Group
  • ?

Um Ihnen die Übersicht über die große Anzahl an Nachrichten, die jeden Tag für ein Unternehmen erscheinen, etwas zu erleichtern, haben wir den Nachrichtenfeed in folgende Kategorien aufgeteilt:

Relevant: Nachrichten von ausgesuchten Quellen, die sich im Speziellen mit diesem Unternehmen befassen

Alle: Alle Nachrichten, die dieses Unternehmen betreffen. Z.B. auch Marktberichte die außerdem auch andere Unternehmen betreffen

vom Unternehmen: Nachrichten und Adhoc-Meldungen, die vom Unternehmen selbst veröffentlicht werden

Peer Group: Nachrichten von Unternehmen, die zur Peer Group gehören

Analysen zu UDR Inc

  • Alle
  • Buy
  • Hold
  • Sell
  • ?
01.06.2018UDR BuyStifel, Nicolaus & Co., Inc.
22.02.2018UDR OverweightCantor Fitzgerald
08.11.2017UDR Sector PerformRBC Capital Markets
05.10.2017UDR OutperformRobert W. Baird & Co. Incorporated
01.09.2017UDR HoldStifel, Nicolaus & Co., Inc.
01.06.2018UDR BuyStifel, Nicolaus & Co., Inc.
22.02.2018UDR OverweightCantor Fitzgerald
05.10.2017UDR OutperformRobert W. Baird & Co. Incorporated
01.09.2017UDR HoldStifel, Nicolaus & Co., Inc.
20.01.2017United Dominion Realty Trust BuySunTrust
08.11.2017UDR Sector PerformRBC Capital Markets
30.06.2017UDR NeutralBTIG Research
21.03.2016United Dominion Realty Trust NeutralMizuho
17.12.2015United Dominion Realty Trust NeutralRobert W. Baird & Co. Incorporated
09.11.2015United Dominion Realty Trust Sector PerformRBC Capital Markets

Um die Übersicht zu verbessern, haben Sie die Möglichkeit, die Analysen für UDR Inc nach folgenden Kriterien zu filtern.

Alle: Alle Empfehlungen

Buy: Kaufempfehlungen wie z.B. "kaufen" oder "buy"

Hold: Halten-Empfehlungen wie z.B. "halten" oder "neutral"

Sell: Verkaufsempfehlungn wie z.B. "verkaufen" oder "reduce"
mehr Analysen
Werbung

Meistgelesene UDR News

Keine Nachrichten gefunden.
Weitere UDR News
Werbung
Werbung
Börse Stuttgart Anlegerclub

Die richtige Strategie für die Börsenkrise

Stecken Sie nicht den Sand in den Kopf, sondern kaufen Sie die richtigen Aktien. Erfahren Sie im aktuellen Anlegermagazin mehr über attraktive Qualitätsaktien und zyklische Aktien
Kostenfrei registrieren und lesen!

UDR Peer Group News

Keine Nachrichten gefunden.

Heute im Fokus

DAX legt zu -- Asiens Börsen mehrheitlich fest -- SAP kappt Prognose für 2020 -- Gerresheimer bestätigt Jahresausblick -- UBS teilt Dividende auf -- Starbucks, Airbus im Fokus

Facebook führt Plattform für Hilfsangebote auch in Deutschland ein. Vergleichsportal: Weitere Geldhäuser bürden Sparern Negativzinsen auf. Diageo streicht Prognose. E.ON-Hauptversammlung soll virtuell stattfinden. Credit Suisse teilt Dividende in zwei Tranchen auf. Air France-KLM erwartet weitgehenden Geschäftsausfall bis Ende Mai.

Die 5 beliebtesten Top-Rankings

Die Länder mit den größten Goldreserven
Wer lagert das meiste Gold?
Welche Marken sind vorne mit dabei?
BrandZ-Ranking: Das sind die wertvollsten deutschen Marken
Das sind die besten Renten-Länder
In welchen Ländern lohnt es sich, zur Ruhe zu setzen?
Rohstoffe: Die Gewinner und Verlierer in Q1 2020
Welcher Rohstoff macht das Rennen?
MDAX: Die Gewinner und Verlierer in Q1 2020
Welche Aktie macht das Rennen?
mehr Top Rankings

Umfrage

Corona-Crash an den Börsen: Wird der DAX im April noch weiter fallen?

Online Brokerage über finanzen.net

finanzen.net Brokerage
Handeln Sie für nur 5 Euro Orderprovision* pro Trade aus der Informationswelt von finanzen.net!

ETF-Sparplan

Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln
Kontakt - Impressum - Werben - Pressemehr anzeigen
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Bitcoin
Goldpreis
Meistgesucht
Microsoft Corp.870747
Deutsche Bank AG514000
Wirecard AG747206
Scout24 AGA12DM8
Lufthansa AG823212
TeslaA1CX3T
Daimler AG710000
Shell (Royal Dutch Shell) (A)A0D94M
Airbus SE (ex EADS)938914
NEL ASAA0B733
Allianz840400
TUITUAG00
Amazon906866
Apple Inc.865985
Infineon AG623100