UDR // UDR Inc.

DES <GO> NYSE CIK 0000074208 ↗

Financials • Real Estate Investment Trusts

$35.42 ▲ +0.71 (+2.05%)

MKT CAP: $11.38B • VOL: 4.35M

52W L $33 52W H $42

ALTMAN Z

1.62 RISK

PIOTROSKI

9 / 9

UDR // ROARABLE RATING & 5-PILLAR RQD CONFIDENCE 02:00 EST DETERMINISTIC ENGINE

PRIOR: RQD 67/100 [C+] (+0 PT) • UNCHANGED AS OF 2026-11-01

ROARABLE C+

RQD CONFIDENCE

67 / 100 +0D

5 X 20-PT QUANT PILLARS

E 0 D 35 C 59 B 70 A 86+

Roarable Hold — Upper Neutral / Watch for Breakout

01 MASSIVE / SEC XBRL

Forensic Fundamentals

13 / 20

SOLID

FCF +3% vs NI +200% • ROIC-WACC -1.4% • Z 1.62

02 OPRA GEX + SEC 13F

Whale & Options Flow

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

03 SEC FORM 4 (90D)

Insider Conviction

[LOCKED] FLAGGED

UNLOCK BELOW TO REVEAL

04 FRED 90D r-MATRIX

Macro Regime Fit

16 / 20

STRONG

TAILWIND • r(10Y)=+0.00 (+23bp) • r(OAS)=+0.00

05 10-K REDLINE AUDIT

Forensic 10-K Risk

16 / 20

STRONG

20 BASE - 4 DEDUCT • 0 CRIT / 0 MED • STABLE

ALERT

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SIG <GO> CROSS-FEED TRIANGULATION // PROPRIETARY ANOMALY ENGINE (1 ACTIVE ON UDR)

STAGE 2 DETERMINISTIC Z-SCORE + STAGE 3 GEEK DESK BRIEF ALL MARKET ANOMALIES <SIG>

▼ BEARISH // F-RATED EARNINGS MIRAGE // ACCRUAL WATCHSIFTER 02 // ACCRUAL & RECEIVABLES FORENSICS

SEVERITY: 92/100 Z-SCORE: +3.22σ

UDR Accounting Gap: Net Income (+220%) Outpaced OCF (+3%) With +-39.3% Working-Capital Build

CASH CONVERSION GAP

+217.0% (NI vs OCF)

RECEIVABLES / WC BLOAT

-39.3% VS REV

60D C-SUITE FORM 4 SALES

0 OPEN-MKT DUMPS

[GEEK DESK FORENSIC NOTE // SEC XBRL × FORM 4 CROSS-CHECK]

SEC EDGAR XBRL CompanyFacts10-K/10-Q Working Capital ScheduleSEC Form 4 Executive Sales

SEC EDGAR XBRL triangulation on UDR Inc. (UDR) exposes a +217.0% Cash Conversion Gap as YoY Net Income growth (+220.0%) diverged from Operating Cash Flow growth (+3.0%). Non-cash current assets and receivables expanded -39.3% relative to top-line revenue growth. Monitor upcoming 10-Q cash realization closely for accrual mean-reversion.

UDR // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: -2.26%⚡ TESTING RESISTANCE

2026-10-30O $35.71H $35.83L $35.29C $35.52VOL 5.95M

RES: $36.11SUP: $32.05SMA50: $35.06SMA200: $36.81

UDR // INSTITUTIONAL BULL VS. BEAR FORENSIC DEBATE

ACCUMULATE CONVICTION: 62/100

BEAR 0

100 BULL

UDR Inc. (UDR) exhibits 41.0% gross margins and 7.3% return on invested capital within Financials (Real Estate Investment Trusts), balanced against a 25.4x enterprise multiple and 6.8% implied options volatility.

▲ INSTITUTIONAL BULL THESIS (LONG)

01. Operating Leverage & Capital Efficiency Moat

Sustained 41.0% gross profitability converts into 75.0% operating margin and 7.3% ROIC, outpacing sector cost of capital.

ROIC: 7.3% // GM: 41.0%

02. Top-Line Expansion & Cash Conversion

YoY revenue trajectory of +36.6% paired with 7.93% free cash flow yield supports self-funded R&D and capital return.

REV YOY: +36.6% // FCF YLD: 7.93%

03. Balance Sheet Solvency & Forensic Quality

Altman Z-Score of 1.62 and Piotroski F-Score of 9/9 indicate low near-term refinancing stress.

ALTMAN Z: 1.62 // F-SCORE: 9/9

▼ INSTITUTIONAL BEAR THESIS (SHORT / RISK)

01. Multiple Compression & Duration Sensitivity

Trading at 30.1x trailing P/E (25.3x Fwd P/E) leaves valuation vulnerable if real 10Y TIPS yields spike.

P/E: 30.1x // EV/EBITDA: 25.4x

02. Options Skew & Event Volatility Risk

Options market prices a ±6.8% implied move with a 0.84 put/call ratio around $35.00 max pain.

IMPL MOVE: ±6.8% // P/C: 0.84

03. Competitive Margin & CapEx Cycle Pressure

Elevated industry capital intensity and customer concentration in Real Estate Investment Trusts require continuous execution to defend 68.0% net margins.

NET MARGIN: 68.0% // D/E: 0.82x

KEY CATALYST // Upcoming 10-Q/10-K XBRL margin progression, guidance revision vs 25.3x forward consensus, and institutional 13F positioning.

MACRO REGIME // Monitor US 10Y Real Yields (DFII10) and High-Yield Credit Spreads (OAS) for beta-adjusted multiple impact (Beta 0.97).

FORM 4 & 13F FLOW OPEN OWN <GO>

FILER	SIDE	$ VALUE
INSPECT FULL OWNERSHIP LEDGER IN OWN <GO>

UNUSUAL OPTIONS TAPE OPEN OPT <GO>

STRIKE / EXP	TYPE	PREMIUM
INSPECT GEX & CHAIN IN OPT <GO>

KEY VALUATION & PROFITABILITY RATIOS XBRL FA <GO>

TRAILING P/E 30.1x

FORWARD P/E 25.3x

EV / EBITDA 25.4x

FCF YIELD 7.93%

GROSS MARGIN 41.0%

OPERATING MARGIN 75.0%

NET MARGIN 68.0%

ROIC % 7.3%

REV GROWTH YOY +36.6%

DILUTED EPS TTM $1.18

DEBT / EQUITY 0.82x

DIVIDEND YIELD 4.99%

RSI-14 MOMENTUM 56.7

5Y EQUITY BETA 0.97

FRED MACRO SENSITIVITY (PEARSON r) ECST <GO>

MACRO CORRELATION CALIBRATION ACTIVE BELOW.

FRED MACRO REGIME STRESS-TEST SIMULATOR // UDRPEARSON R VARIANCE ENGINE

01 // SELECT FEDERAL RESERVE & CREDIT SHOCK SCENARIO

02 // POSITION NOTIONAL EXPOSURE

HEADLINE STRESS SCORE

75/100SEVERE DRAWDOWN PRESSURE

PRIMARY FACTOR EXPOSURE

DFII10 // -0.61 r

Latest: 2.08%

EST. DIRECTIONAL MOVE

-8.50%

Implied Px: $32.41

EST. DOLLAR VARIANCE

-$4,248

On $50,000 Notional

[LOCKED // MULTI-FACTOR DRAWDOWN HEDGE & MACRO TRIGGER ALERT]

Unblur the exact $50,000 delta-adjusted ETF/options hedge ratio for UDR & activate live FRED threshold breach alerts.

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