UDR Inc
For the period ended Dec 31, 2023. Filed Feb 20, 2024.
View on SEC.govAbout this filing
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FY2023 · Filed Feb 20, 2024
UDR$36.66-0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets at December 31, 2023 and 2022
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · December 31, · · December 31, | ||||||
| | 2023 | 2022 | ||||
| ASSETS | | | | | | |
| Real estate owned: · · | ||||||
| Real estate held for investment | | $15,757,456 | | $15,365,928 | ||
| Less: accumulated depreciation | | (6,242,686) | | (5,762,205) | ||
| Real estate held for investment, net | | 9,514,770 | | 9,603,723 | ||
| Real estate under development (net of accumulated depreciation of $184 and $296, respectively) | | 160,220 | | 189,809 | ||
| Real estate held for disposition (net of accumulated depreciation of $24,960 and $0, respectively) | | 81,039 | | 14,039 | ||
| Total real estate owned, net of accumulated depreciation | | 9,756,029 | | 9,807,571 | ||
| | | | | | | |
| Cash and cash equivalents | | 2,922 | | 1,193 | ||
| Restricted cash | | 31,944 | | 29,001 | ||
| Notes receivable, net | | 228,825 | | 54,707 | ||
| Investment in and advances to unconsolidated joint ventures, net | | 952,934 | | 754,446 | ||
| Operating lease right-of-use assets | | | 190,619 | | | 194,081 |
| Other assets | | 209,969 | | 197,471 | ||
| Total assets | | $11,373,242 | | $11,038,470 | ||
| | | | | | | |
| LIABILITIES AND EQUITY | | | ||||
| Liabilities: | | | ||||
| Secured debt, net | | $1,277,713 | | $1,052,281 | ||
| Unsecured debt, net | | 4,520,996 | | 4,435,022 | ||
| Operating lease liabilities | | | 185,836 | | | 189,238 |
| Real estate taxes payable | | 47,107 | | 37,681 | ||
| Accrued interest payable | | 47,710 | | 46,671 | ||
| Security deposits and prepaid rent | | 50,528 | | 51,999 | ||
| Distributions payable | | 149,600 | | 134,213 | ||
| Accounts payable, accrued expenses, and other liabilities | | 141,311 | | 153,220 | ||
| Total liabilities | | 6,420,801 | | 6,100,325 | ||
| | | | | | | |
| Commitments and contingencies (Note 15) | | | ||||
| | | | | | | |
| Redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership | | 961,087 | | 839,850 | ||
| | | | | | | |
| Equity: | | | ||||
| Preferred stock, no par value; 50,000,000 shares authorized at December 31, 2023 and December 31, 2022: | | | ||||
| 8.00% Series E Cumulative Convertible; 2,686,308 and 2,686,308 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | | 44,614 | | 44,614 | ||
| Series F; 11,867,730 and 12,100,514 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | | 1 | | 1 | ||
| Common stock, $0.01 par value; 450,000,000 shares authorized at December 31, 2023 and December 31, 2022: | | | ||||
| 329,014,512 and 328,993,088 shares issued and outstanding at December 31, 2023 and December 31, 2022, respectively | | 3,290 | | 3,290 | ||
| Additional paid-in capital | | 7,493,217 | | 7,493,423 | ||
| Distributions in excess of net income | | (3,554,892) | | (3,451,587) | ||
| Accumulated other comprehensive income/(loss), net | | 4,914 | | 8,344 | ||
| Total stockholders’ equity | | 3,991,144 | | 4,098,085 | ||
| Noncontrolling interests | | 210 | | 210 | ||
| Total equity | | 3,991,354 | | 4,098,295 | ||
| Total liabilities and equity | | $11,373,242 | | $11,038,470 | ||
F - 5
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