Dave Bragg, CFO at UDR, Inc. (NYSE: UDR), joined the REIT Report podcast to discuss the multifamily REIT’s decision to adopt a monthly dividend, its strategic focus on operational excellence, and the current state of the multifamily real estate market.<br>Bragg noted that adopting a monthly dividend reflects the REIT’s efforts to seek new and different sources of capital, including individual investors. Through a range of education efforts, UDR is looking to showcase its “50-year history of about $9 billion of dividends paid,” and a healthy dividend yield today that has been characterized by “stability and growth over time.”<br>UDR is also increasingly applying a data-driven approach to capital allocation, according to Bragg. “It&#x27;s a very collaborative process that has informed our dispositions and our share buybacks, which have been a focus so far this year,” he said.

Multifamily REIT UDR CFO on Adopting Monthly Dividends, Record Low Turnover

Nareit's REIT Report Podcast

By our measure, the proposition in favor of apartments relative to single-family homeownership is at the lowest level of this century, meaning that apartments are more attractive than they have ever been relative to homeownership over the past 25 years or so. That is due to the fact that interest rates have increased, home prices remain high.

Hello and welcome to the REIT Report. I'm your host, Sarah Borgson-Kito. Today's episode was recorded on location at REIT Week 2026 in New York City, where my guest was Dave Bragg, CFO at Multifamily REIT UDR. Dave joined UDR in 2025, bringing over two decades of experience in real estate finance, investment strategy, and capital markets. So Dave, thanks so much for joining the podcast today. Thank you for having us.

UDR recently announced it's switching to a monthly dividend, making it the first multifamily REIT to do so. What was behind that decision and does it expand your reach to a broader set of investors? Sure. So UDR has a focus on three strategic areas. One would be operational excellence, another is capital allocation, and the third is access to capital. So this shift to the monthly dividend fits under the third.

As we seek to find access to new and different sources of capital. In this specific case, we are making an appeal to retail and individual investors in the hopes that they appreciate what we have to offer, which is a 50-year history of about $9 billion of dividends paid.

A healthy dividend yield today that has been characterized by stability and growth over time. So we're proud to be the first residential REIT to do so that fits with our culture of innovation.

Multifamily REIT UDR CFO on Adopting Monthly Dividends, Record Low Turnover

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Multifamily REIT UDR CFO on Adopting Monthly Dividends, Record Low Turnover

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.