UDR Inc

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  • uploads///C STRATEGY
    Company & Industry Overviews

    How UDR Plans to Increase Shareholder Returns

    UDR’s (UDR) principal business strategy is to maximize the economic returns of its apartment communities to provide higher shareholder returns and value.

    By Peter Barnes
  • uploads///C A FFO
    Company & Industry Overviews

    UDR Recorded the Highest Funds from Operations in 2014

    UDR’s funds from operations rose from $192.8 million in 2010 to $415.4 million in 2014—the highest FFO recorded by the company during the past decade.

    By Peter Barnes
  • uploads///Art   Segmental revenue
    Company & Industry Overviews

    Understanding Equity Residential’s Business Segments

    In 1Q17, Southern California comprised 25% of Equity Residential’s (EQR) total revenues, 19% of its total revenues came from Washington, D.C., and New York comprised 21% of its total revenues.

    By Jennifer Mathews
  • uploads///US Investment Grade Bond Fund Flows
    Company & Industry Overviews

    Investment-Grade Bond Fund Flows Slowed Last Week

    According to Lipper fund flow data, investment-grade bond funds saw net inflows of $2.2 billion during the week ended August 17, 2016.

    By Lynn Noah
  • uploads///Chart  ETF
    Company & Industry Overviews

    How to Invest in Equity Residential through ETFs

    ETFs allow investors to build a portfolio that meets specific asset allocation needs. Investors can obtain portfolio diversification across a number of asset classes.

    By Peter Barnes
  • uploads///Total IG Bond Issuance in Week Ending Aug
    Company & Industry Overviews

    Standard Chartered Issued the Most High-Grade Bonds Last Week

    US financials and Yankee issuers commanded 34.0% each of the primary market high-grade bond issuance in the week ended August 19, 2016.

    By Lynn Noah
  • uploads///C MAP
    Company & Industry Overviews

    Why Essex Property Trust Concentrates Its Portfolio on the West Coast

    Essex Property Trust expects coastal California and Washington to lead the nation in job growth given vibrant technology and life science employment sectors.

    By Peter Barnes
  • uploads///C COST
    Company & Industry Overviews

    Breakdown of Essex Property Trust’s Cost Structure

    The sharp rise in Essex Property Trust’s costs in 2014 can be attributed to its acquisition of properties following the BRE Properties merger.

    By Peter Barnes
  • uploads///Valuation
    Earnings Report

    Where Equity Residential Stands among Peers after Q2 Results

    Over the last two months, analysts have maintained their “hold” recommendation for Equity Residential.

    By Anirudha Bhagat
  • uploads///PFFO
    Earnings Report

    How AvalonBay Compares after 2Q17

    Price-to-funds from operations multiple AvalonBay Communities’ (AVB) performance in 2Q17 can be best evaluated by looking at its price-to-FFO (funds from operations) multiple. The multiple, widely used for REITs, gives an idea of how much an investor pays for a particular stock per unit of its profit. The multiple, which has the same implications as the price-to-earnings […]

    By Jennifer Mathews
  • uploads///Debt
    Earnings Report

    Financing Activities Leverage AvalonBay’s Balance Sheet in 2Q17

    Performance in 2Q17 AvalonBay Communities (AVB) has undertaken several development, redevelopment, and expansion projects to maintain its share in the market. It invested $400 million in new developments during the quarter. REITs such as UDR (UDR), Essex Property Trust (ESS), and Equity Residential (EQR) fund these activities with the help of debt and equity. Therefore, […]

    By Jennifer Mathews
  • uploads///NOI
    Earnings Report

    Income Rises in 2Q17, AvalonBay Expects Higher Expenses

    Income generated in 2Q17 AvalonBay Communities (AVB) reported NOI (net operating income) of $367.1 million, compared with $339.6 million in 2Q16. The Northern California region reported the highest NOI of $64.6 million, followed by the New York metropolitan area, which reported NOI of $61.5 million. Development and redevelopment communities reported NOI growth of $40.1 million, […]

    By Jennifer Mathews
  • uploads///Regional
    Earnings Report

    How Geography Affected AvalonBay’s 2Q17 Results

    Wide geographical diversity AvalonBay Communities (AVB) has its assets well placed in high-demand Class A cities. These cities have soaring job growth, a high barrier to entry for competitors, and proximity to premium infrastructure. REIT peers UDR (UDR), Equity Residential (EQR), and Essex Property Trust (ESS) are repositioning their properties to Class A cities and […]

    By Jennifer Mathews
  • uploads///Development
    Earnings Report

    AvalonBay Maintains Profit with Strategic Capital Deployment

    Demographic shift American demographics are shifting towards Class A cities with high-income growth and demand for residential apartments. These cities offer job prospects and proximity to offices, schools, and other necessities for premium social living. Although these cities also have high barriers to entry, more residential apartment owners are repositioning their properties in these areas. […]

    By Jennifer Mathews
  • uploads///Revenue
    Earnings Report

    AvalonBay Revenue Climbs in 2Q17, Backed by Rent Growth

    Robust 2Q17 driven by rent growth AvalonBay Communities’ (AVB) total revenue of $530.5 million marginally surpassed Wall Street estimates by 0.3%. However, revenue rose by almost 6% from the year prior. Upbeat top-line growth reflected growth in development communities and stabilized operating communities. Same-store revenue rose 2.5% year-over-year. Including revenue from redeveloped communities, same-store revenue […]

    By Jennifer Mathews
  • uploads///FFO
    Earnings Report

    What Lies Ahead for AvalonBay

    Robust 2Q17 results AvalonBay Communities’ (AVB) top and bottom lines exceeded expectations, backed by higher net operating income growth of 8.1%.   Factors affecting profit during 2Q17 Higher occupancy and rent growth in development communities and stabilized operating communities led to upbeat results during the quarter. Higher funds from operations expected for 3Q17 AvalonBay expects […]

    By Jennifer Mathews
  • uploads///Intro
    Earnings Report

    Where AvalonBay Stands after Its 2Q17 Earnings Release

    AvalonBay Communities (AVB) reported core FFO (funds from operations) of $2.09 per share, in line with Wall Street estimates.

    By Jennifer Mathews
  • uploads///Art  Rating
    Company & Industry Overviews

    How Does Wall Street Rate Essex Property Trust?

    Essex Property Trust’s (ESS) performance expectations in 2017 are reflected in analysts’ ratings for its stock. Analysts have given ESS a mean price target of $257.6.

    By Jennifer Mathews
  • uploads///Art  PFFO
    Company & Industry Overviews

    How Essex Property Trust Compares to Other Industry Players

    The price-to-FFO (funds from operation) ratio is the most popular method of measuring the relative valuation of real estate investment trusts (or REIT) such as Essex Property Trust.

    By Jennifer Mathews
  • uploads///Art  DE
    Company & Industry Overviews

    How Well Does Essex Property Manage Its Balance Sheet?

    In order to function as real estate investment trusts (or REIT), companies such as Essex Property Trust (ESS) have to pay almost 90% of their taxable income out as dividends.

    By Jennifer Mathews
  • uploads///Art  Dividend
    Company & Industry Overviews

    How Well Does Essex Property Return Value to Its Shareholders?

    Real estate investment trusts (or REIT) such as Essex Property Trust (ESS) need to pay at least 90% of their taxable incomes as dividends or share buybacks as a prerequisite for functioning as REITs.

    By Jennifer Mathews
  • uploads///Art  Consumer Sentiment
    Company & Industry Overviews

    Are Trump and the Rate Hike Blessings in Disguise for ESS?

    Rising optimism among citizens bodes well for REITs such as Essex Property Trust (ESS) AvalonBay Communities (AVB), Equity Residential (EQR), and UDR (UDR).

    By Jennifer Mathews
  • uploads///Art  Price and Interest
    Company & Industry Overviews

    How High Interest Could Affect ESS and Residential REITs

    REITs such as Essex Property Trust (ESS) yielded high returns in the long period during which interest rates were below average.

    By Jennifer Mathews
  • uploads///Art  Development Projects
    Company & Industry Overviews

    Development Projects Helps Essex Property Combat REIT Headwinds

    Amid the shifting residential REIT scenario, Essex Property Trust (ESS) has been able to maintain its dominant position.

    By Jennifer Mathews
  • uploads///Art  Proportion
    Company & Industry Overviews

    Essex Property to See Growth due to Winning Strategies

    The current macroeconomic scenario is conducive for growth in the residential REIT (real estate investment trust) sector.

    By Jennifer Mathews
  • uploads///Art  Housing starts
    Company & Industry Overviews

    Essex Property and Residential REITs Are Poised to Grow

    The home building sector has set itself a course for smooth sailing amid the current favorable economic scenario.

    By Jennifer Mathews
  • uploads///Art  Revenue
    Company & Industry Overviews

    How Essex Property Maintains Its Revenue Growth

    A slow and steady improvement in the job market and rising optimism among consumers about their economic welfare has triggered a spike in the construction sector.

    By Jennifer Mathews
  • uploads///Art  FFO
    Company & Industry Overviews

    Essex Property: An Apartment REIT Standing Strong amid Headwinds

    The current economic environment has made investors skeptical about the real estate investment trust (or REIT) industry.

    By Jennifer Mathews
  • uploads///VAL
    Miscellaneous

    How Wall Street Analysts View AvalonBay Stock

    In May 2017, 11 of 23 analysts covering AVB stock issued “buy” or “strong buy” ratings.

    By Jennifer Mathews
  • uploads///Price to FFO
    Company & Industry Overviews

    AvalonBay—Comparison with Other Retail REITs in Its Industry

    Currently, AvalonBay Communities is offering a next-12-month (or NTM) dividend yield of 3%, which is in line with its close competitors.

    By Jennifer Mathews
  • uploads///Dividend
    Company & Industry Overviews

    AvalonBay Communities: A Rewarding Stock for Shareholders

    During 2016, AvalonBay Communities (AVB) repurchased 57,172 shares worth $0.6 million.

    By Jennifer Mathews
  • uploads///Art  geographical
    Company & Industry Overviews

    AvalonBay, Residential REITs Target Headwinds through Diversification

    During 1Q17, AvalonBay Communities (AVB) had completed the development of projects worth $650 million at an initially projected yield of 5.6%.

    By Jennifer Mathews
  • uploads///Consumer Sentiment Trump Article
    Company & Industry Overviews

    Could Rising Consumer Sentiment Boost REITs Like AVB?

    According to the University of Michigan, the consumer sentiment index for May 2017 gained 2.5% year-over-year, standing at 97.1%.

    By Jennifer Mathews
  • uploads///Art  Trump Budget
    Company & Industry Overviews

    The Impact of Trump’s Proposed 2018 Budget on Residential REITs

    According to President Trump’s proposed budget for fiscal 2018, the administration is expected to slash $6 million from the U.S. Department of Housing and Urban Development budget, decreasing its funding by 13.2% to $40.7 billion.

    By Jennifer Mathews
  • uploads///Interest Rate Price Ratio
    Company & Industry Overviews

    How Rising Interest Rates Impact AVB and Residential REITs

    There is wide anticipation in the market that the Federal Reserve could raise interest rates again during its upcoming meeting on June 14, 2017.

    By Jennifer Mathews
  • uploads///Art  Housing Starts
    Company & Industry Overviews

    AvalonBay Communities and the Residential REIT Industry Overview

    According to NHAB’s Housing Economics survey, housing starts are expected to rise 6.2% in 2017 and ~6.3% in 2018, backed by respective 9.6% and ~11.8% gains in single-family home sales.

    By Jennifer Mathews
  • uploads///Art  Rev
    Company & Industry Overviews

    AvalonBay Maintains Revenue Growth amid Industrial Headwinds

    AvalonBay’s 1Q17 revenues came in at ~$522.3 million and surpassed estimates by 0.3%.

    By Jennifer Mathews
  • uploads///Art  FFO
    Company & Industry Overviews

    AvalonBay: Weathering Ups and Downs in Residential REITs

    In May 2017, 11 of 23 analysts covering AvalonBay Communities (AVB) stock issued “buy” or “strong buy” ratings. Eleven analysts gave AVB a “hold” rating, and one analyst gave it a “sell” or a “strong sell” rating.

    By Jennifer Mathews
  • uploads///Art  Dividend Payout
    Company & Industry Overviews

    GGP: A Rewarding Stock for Shareholders

    General Growth Properties (GGP) has been paying dividends to its shareholders consistently in every quarter since it raised its dividend 11.1% during 4Q16 to $0.22.

    By Jennifer Mathews
  • uploads///Art  DE
    Company & Industry Overviews

    How Does Equity Residential Manage Its Debt Leverage?

    Equity Residential’s effective overall borrowing rate for fiscal 2016 was ~4.5%, close to its 2015 level of ~4.6%.

    By Jennifer Mathews
  • uploads///Art  Portfolio Transformation Part
    Company & Industry Overviews

    Equity Residential’s Geographic Expansion

    As a part of its strategy initiated in 2005, Equity Residential (EQR) started to sell off its properties to other REITs located in less-dense regions.

    By Jennifer Mathews
  • uploads///Art  Properties
    Company & Industry Overviews

    Equity Residential: The Largest Apartment Building Owner in the US

    On March 31, 2017, Equity Residential (EQR) owned 302 properties in ten states and the District of Columbia, comprising 77,498 apartment units.

    By Jennifer Mathews
  • uploads/// DIV
    Earnings Report

    Equity Residential’s Management Paints a Bullish Picture for 2016

    Equity Residential upwardly revised its guidance for its 2016 same-store operating performance, normalized FFO per share, and some of its transactions.

    By Peter Barnes
  • uploads/// housing expenses
    Macroeconomic Analysis

    How Much Money Are You Spending on Rent?

    Rent is rising fast while pay raises have been very modest, which is a very difficult situation for median-income households.

    By Peter Barnes
  • uploads/// initiatives by govt
    Macroeconomic Analysis

    What Can the Government Do to Increase Housing Affordability?

    Many local governments have initiated measures to increase housing affordability. The California Community Redevelopment Law requires developers of redevelopment projects to construct 15% of the houses to be affordable for low- and moderate-income households.

    By Peter Barnes
  • uploads/// cpi
    Macroeconomic Analysis

    Why Rent Is Going through the Roof

    As more and more people seek apartments, rent has also been rising rapidly. In fact, rent has been rising faster than the overall cost of living in the US.

    By Peter Barnes
  • uploads///C occupancy
    Company & Industry Overviews

    Rising Occupancy and Average Rent for American Campus Communities

    American Campus Communities’ (ACC) average occupancy rate has remained at an elevated level for the past few years. It reached its peak at 97.8% in 2011.

    By Peter Barnes
  • uploads///C DEBT
    Company & Industry Overviews

    American Campus Communities Has Lower Leverage Than Average

    Higher dividend payout by many REITs forces management to go for higher leverage to expand real estate holdings. This results in higher interest outgo, thereby reducing earnings.

    By Peter Barnes
  • uploads///C REV
    Company & Industry Overviews

    American Campus Communities Reported Healthy Revenue Growth

    American Campus Communities (ACC) reported a total revenue of $733.9 million for fiscal 2014, up by a healthy 11.6% over 2013.

    By Peter Barnes
  • uploads///C COST
    Company & Industry Overviews

    MAA’s EBITDA Margin: Lower than Industry Average

    MAA’s EBITDA margin is lower than the industry average of 57.7%, as well as the margins reported by some of the company’s peers.

    By Peter Barnes
  • uploads///C OCCU
    Company & Industry Overviews

    Why Have Rising Occupancy Levels and Rent Boded Well for MAA?

    MAA’s operating strategy includes maintaining high occupancy levels to sustain its growth momentum.

    By Peter Barnes
  • uploads///C ACQUI
    Company & Industry Overviews

    Why Property Acquisitions and Dispositions Are Important to MAA

    MAA’s focus on the acquisition and disposition of properties helps it achieve the required product mix and geographic diversification.

    By Peter Barnes
  • uploads///C DEBT
    Company & Industry Overviews

    Camden Property Trust Has Lower Leverage Than Industry Average

    As of the end of fiscal 2014, 92.4% of Camden’s leverage consisted of fixed-rate debt, while 7.6% comprised variable-rate debt.

    By Peter Barnes
  • uploads///C PIC
    Company & Industry Overviews

    Investing in American Campus Communities, a Student Housing REIT

    American Campus Communities (ACC), founded by William C. Bayless in 1993, completed an IPO in 2004 and became the first publicly traded student housing REIT on the New York Stock Exchange.

    By Peter Barnes
  • uploads///C PFFO
    Earnings Report

    What Do Analysts Recommend for AvalonBay?

    AvalonBay trades at a higher-than-average price-to-FFO multiple for the industry due to a number of reasons.

    By Peter Barnes
  • uploads/// STOCK
    Earnings Report

    Essex Property Trust Stock Fell despite Robust 3Q15 Earnings

    The market reacted negatively to Essex Property Trust’s 3Q15 earnings. Soon after the earnings release, the stock dipped by 3.6% over the previous day’s close.

    By Peter Barnes
  • uploads///C STARWOOD
    Earnings Report

    Equity Residential Plans to Sell Apartment Units to Starwood Capital

    On October 26, Equity Residential announced its plans to sell 72 properties in five markets to Starwood Capital. This includes 23,262 apartment units.

    By Peter Barnes
  • uploads///C AVG RENTAL
    Earnings Report

    AvalonBay Struggled to Increase Occupancy Rates in 3Q15

    AvalonBay’s established communities’ occupancy rate fell by 0.4% year-over-year to 95.3% in 3Q15. This is the lowest occupancy level recorded by the company in the last 14 quarters.

    By Peter Barnes
  • uploads///C STOCK
    Earnings Report

    Equity Residential’s 3Q15 Earnings Boost the Stock Performance

    Equity Residential (EQR) is the largest US residential REIT. It reported its 3Q15 earnings on October 26. The company’s EPS was $0.53 for 3Q15.

    By Peter Barnes
  • uploads///C EV EBITDA
    Company & Industry Overviews

    Why UDR Trades at a Higher EV/EBITDA Multiple

    A closer look at UDR’s EV/EBITDA multiple shows that, over the last seven years, UDR’s EV/EBITDA was 12.9x–23.8x. Its current EV/EBITDA is around 22.3x.

    By Peter Barnes
  • uploads///C P FFO
    Company & Industry Overviews

    Analyzing UDR’s Price-to-FFO Multiple versus Its Peers

    Historically, a better-than-average price-to-FFO multiple for UDR meant that it was able to provide consistent capital value return to investors.

    By Peter Barnes
  • uploads///C ETF
    Company & Industry Overviews

    Investing in Essex Property Trust through ETFs

    ETFs are a convenient way for portfolio diversification across a number of asset classes. ETFs mirror the performance of an entire market in a single trade.

    By Peter Barnes
  • uploads///C STRATEGY
    Company & Industry Overviews

    How Essex Property Trust Plans to Increase Shareholder Returns

    Essex Property Trust follows a research-driven strategy for real estate investment decisions to increase shareholder returns. It also expects the strategy to thwart competition.

    By Peter Barnes
  • uploads///C MOMMU ACQ
    Company & Industry Overviews

    How Essex Property Trust Benefited from Portfolio Restructuring

    Acquisitions and dispositions are an important component of Essex Property Trust’s (ESS) business plan.

    By Peter Barnes
  • uploads///Chart  Val
    Company & Industry Overviews

    Assessing AvalonBay Communities’ Price Multiple Versus Peers

    A higher price-to-FFO multiple for AvalonBay Communities meant that it provided consistent capital value return along with reliable dividend yield to investors.

    By Peter Barnes
  • uploads///Chart  Div
    Company & Industry Overviews

    AvalonBay Communities Offers Steady Dividend to Shareholders

    REITs such as AvalonBay Communities must pay at least 90% of taxable income to investors as dividends. Dividends come from relatively stable rents paid by tenants.

    By Peter Barnes
  • uploads///C Milstones
    Company & Industry Overviews

    Investing in Essex Property Trust: A Must-Read Company Overview

    Essex Property Trust is one of the largest apartment REIT companies in the United States with a market capitalization of $14.4 billion.

    By Peter Barnes
  • uploads///Chart  Strategy
    Company & Industry Overviews

    How Does AvalonBay Communities Plan to Increase Shareholder Returns?

    AvalonBay Communities aims to increase long-term shareholder returns. Its strategy is to be a leader in delivering a range of multi-family offerings tailored to customers.

    By Peter Barnes
  • uploads///Chart  Dev
    Company & Industry Overviews

    AvalonBay Communities’ Development and Redevelopment Projects

    AvalonBay Communities sees property development and redevelopment as an opportunity to enter new markets and strengthen existing ones.

    By Peter Barnes
  • uploads///Chart  Archstone
    Company & Industry Overviews

    Why AvalonBay Communities Acquired Archstone Enterprise

    AvalonBay Communities acquired ~40% of Archstone’s assets and liabilities, which the company saw as an opportunity to expand its presence across major US markets.

    By Peter Barnes
  • uploads///Chart  Valn
    Company & Industry Overviews

    Analyzing Equity Residential’s Higher Price-to-FFO Multiple

    The most common way to calculate the relative value of a REIT like Equity Residential (EQR) is the price-to-FFO (funds from operations) multiple.

    By Peter Barnes
  • uploads///Chart  Brands
    Company & Industry Overviews

    What Are the Major Brands of AvalonBay Communities?

    AvalonBay Communities’ brands focus on consumer preference as well as location and price. They help differentiate its apartments from the competition.

    By Peter Barnes
  • uploads///Chart  Debt
    Company & Industry Overviews

    Equity Residential Has a Moderate Debt-to-Equity Ratio

    Equity Residential’s debt-to-equity ratio reached its high of 1.96 in 2008. Since then, it has fallen consistently from 1.72 in 2009 to 0.96 as of June 2015.

    By Peter Barnes
  • uploads///Chart  Map
    Company & Industry Overviews

    An Overview of AvalonBay Communities’ Geographic Coverage

    The distribution of properties in attractive US coastal markets reflects AvalonBay Communities’ geographic diversification strategy.

    By Peter Barnes
  • uploads///Chart  Div
    Company & Industry Overviews

    Equity Residential Offers Steady Dividends to Shareholders

    REITs must pay at least 90% of the taxable income to investors as dividends. REIT dividends are protected from the long-term effects of rising prices.

    By Peter Barnes
  • uploads///Chart  Segment wise
    Company & Industry Overviews

    What Are AvalonBay Communities’ Key Business Segments?

    AvalonBay Communities’ business segments primarily consist of current operating apartment communities, development communities, and development rights.

    By Peter Barnes
  • uploads///Chart  Milestones
    Company & Industry Overviews

    Investing in AvalonBay Communities: A Must-Know Company Overview

    AvalonBay Communities is a REIT focused on developing, redeveloping, acquiring, and managing high-quality apartment communities in high barrier-to-entry US markets.

    By Peter Barnes
  • uploads///Chart  Cost
    Company & Industry Overviews

    What Was Equity Residential’s Cost Structure?

    Equity Residential’s (EQR) consolidated cost was $1.69 billion for fiscal 2014—down by 9.70% over 2013. This came after a 52% rise in the total cost in 2013.

    By Peter Barnes
  • uploads///Chart  Projects development
    Company & Industry Overviews

    What Are Equity Residential’s Development Projects?

    Equity Residential has a development pipeline of over $3.1 billion. In 2014, the projects under development totaled $6.7 billion—compared to $4.76 billion in 2013.

    By Peter Barnes
  • uploads///Chart  Coverage
    Company & Industry Overviews

    Analyzing Equity Residential’s Geographic Coverage

    The distribution of properties throughout the US reflects Equity Residential’s belief that geographic diversification helps insulate the property portfolio from regional influences.

    By Peter Barnes
  • uploads///Chart  Apt Units
    Company & Industry Overviews

    What Are Equity Residential’s Key Business Segments?

    Equity Residential (EQR) has three main business segments—garden, mid-rise or high-rise, and military housing.

    By Peter Barnes
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