Home Featured UDR Inc.’s Tom Toomey Talks Strategy Execution

UDR Inc.’s Tom Toomey Talks Strategy Execution


UDR Inc.’s strong second quarter results were highlighted by same-store NOI growth of 4.2% and FFO as adjusted per share growth of 6.3%. Those numbers, according to CEO Tom Toomey, continue to demonstrate UDR’s value creation potential as well as execution of the REIT’s primary strategic objective.

Those strategies, Toomey said, include ensuring continued operational excellence through strong blocking and tackling, and innovation, such as the implantation of the company’s next generation operating platform to further boost our operating margin. In addition, he noted, maintaining the diversified portfolio to mitigate risk and provide more degrees of freedom to utilize the company’s best-in-class operating platform and adaptive capital allocation platform is key. The final strategy he touched on included driving cash flow growth through accretive and disciplined capital sourcing and deployment. He also said the company maintains liquid investment-grade balance sheet and promotes a culture of empowerment and innovation.

“Continuous execution of these objectives has made UDR a full-cycle investment,” he explained. “And over the past three years has resulted in the second highest FFO, as adjusted per share growth rate in the group, outpacing our peer average by 100 basis points per year. This is a tremendous result for a highly diversified company.”

Looking ahead, over the next 18 months, he says the company feels good about where it is positioned, assuming the continuation of the stable economic and demand supply environment. “For UDR specifically, we will continue to ring efficiencies out of our cost structure through our next generation operating platform and our 2019 acquisitions and our investment activities will be accretive to 2020.”