Three Months Ended

March 31,

2026

2025

Numerator for income/(loss) per share:

Net income/(loss)

$

202,904

$

82,071

Net (income)/loss attributable to redeemable noncontrolling interests in the Operating Partnership and DownREIT Partnership

(13,061)

(5,339)

Net (income)/loss attributable to noncontrolling interests

(12)

(12)

Net income/(loss) attributable to UDR, Inc.

189,831

76,720

Distributions to preferred stockholders — Series E (Convertible)

(1,220)

(1,206)

Income/(loss) attributable to common stockholders - basic and diluted

188,611

75,514

Dilutive distributions to preferred stockholders - Series E (Convertible)

1,220

—

Income/(loss) attributable to common stockholders - diluted

$

189,831

$

75,514

Denominator for income/(loss) per share:

Weighted average common shares outstanding

327,974

331,138

Unvested restricted stock awards

(673)

(510)

Denominator for basic income/(loss) per share

327,301

330,628

Incremental shares issuable from assumed conversion of unvested LTIP Units, performance units, stock options and unvested restricted stock

2,993

1,089

Denominator for diluted income/(loss) per share

330,294

331,717

Income/(loss) per weighted average common share:

Basic

$

0.58

$

0.23

Diluted

$

0.57

$

0.23