Latest news with #UDR
Business Recorder
6 days ago
- Business
- Business Recorder
CJP for timely and effective utilisation of funds released to HCs
ISLAMABAD: Chief Justice of Pakistan (CJP) underscored the need for timely and effective utilisation of the funds released to respective High Courts. CJP Yahya Afridi, who is also the chairman Law and Justice Commission of Pakistan (LJCP), on Thursday, chaired 19th meeting of the Governing Body, Access to Justice Development Fund (AJDF) in the Conference Room of the Supreme Court of Pakistan. The CJs of all High Courts, secretary Ministry of Law and Justice, additional Secretary Finance Division and Secretary Law and Justice Commission of Pakistan attended the meeting. Justice Yahya appreciated the role of funds in capacity building and infrastructural development of the district judiciary throughout Pakistan. The Governing Body approved the suggestion floated by the High Courts for utilisation of the funds under Underdeveloped Regions (UDR) window exclusively for solarisation of courts and establishment of e-libraries for one year in the underdeveloped districts of the country. In addition, the projects of Lahore High Court for provision of missing facilities to female judicial officers and litigants in district courts were also approved. The apex body also approved mechanism for smooth and timely completion of projects funded from AJDF. The Governing Body approved the recommendations of the Technical Evaluation Committee, AJDF regarding projects undertaken through Legal Empowerment, Judicial and Legal Research and Legal Innovation Windows for timely completion. After deliberations, the apex body extended the purview of Free Legal Aid Committees to the High Courts by enhancing the lawyers' professional fee along with increase in funding limit to these Committees. Annual accounts and funds allocation for FY 2023-24 and budget for FY 2025-26 were also approved. Earlier, Syeda Tanzeela Sabahat, Secretary LJCP gave a brief overview of AJDF, its mandate and overall performance with regard to funds released under various AJDF windows specifically for infrastructure development and projects executed in Underdeveloped Regions to bring them at par with other areas of the country. She also updated about the provision of free legal aid to deserving litigants under District Legal Empowerment Committees (DLECs), provision of litigant-oriented conveniences and amenities, projects completed and trainings of justice sector stakeholders through Judicial Academies. Meanwhile, the CJP also presided over the 44th meeting of LJCP. He apprised the participants of a significant shift in the composition of the LJCP. He emphasised the need for regular meetings, wider publicity of the LJCP's mandate to solicit law reform proposals, and augmentation of research capabilities by engaging research associate alongside the existing team of researchers. Copyright Business Recorder, 2025
Yahoo
16-05-2025
- Business
- Yahoo
UDR boosts retention in Q1
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. UDR's decision to focus on keeping heads in beds in the first quarter seemed to pay off. The Highlands Ranch, Colorado-based REIT posted a 97.2% occupancy rate, 0.2% higher than its 2024 Q1 average and 40 basis points above Q4 2024. 'This strategic decision to build occupancy during the seasonally slower leasing period helped to drive revenue and NOI outperformance to start the year, and positions us well as we enter our traditional leasing season,' Chief Operating Officer Mike Lacy said on UDR's Q1 earnings call earlier this month. UDR's occupancy beat JPMorganChase 96.7% estimate, but its blended lease spreads of 0.9% fell below the global financial services firm's 1.3% projection. 'The better top-line performance was mainly driven by better occupancy, perhaps at a small cost to spreads,' said Anthony Paolone, executive director at JPMorgan, in a research note shared with Multifamily Dive. 'That said, the company noted that its business continues to accelerate with better new lease spreads and renewal spreads in the mid-4s.' In 2024, U.S. multifamily completions hit a 50-year high, but starts are declining. 'A future supply pipeline that is below historical averages bodes well for rent growth in the years ahead,' UDR CEO Tom Toomey said on the call. As supply abates and seasonal trends kick in, UDR expects blended lease growth to continue improving. Lacy projects it to be toward the high end of the 1.4% to 1.8% range by the end of the first half of the year. 'We feel confident in the trajectory of rental rate growth as renewal rate growth has held steady in the mid-4% range and new lease rate growth has improved sequentially since the start of the year,' Lacy said. UDR's traffic is on pace with historical norms at this time of year, and its 30-day availability is approximately 4%, which should keep occupancy in the mid- to high-96% range for the rest of 2025, according to Lacy. In addition, April was the 24th consecutive month the REIT's year-over-year turnover improved. Category Q1 YOY Change Rental income $405 million 2.6% Net operating income $276.4 million 2.8% Operating expenses $128.6 million 2.3% FFO per diluted share $0.58 -3% Rent per unit $3,117 2.6% Occupancy rate 97.2% 0.2% SOURCE: UDR UDR's YOY same-store expense growth of 2.3% in Q1 beat its expectations. 'These positive results were driven by favorable real estate taxes, insurance savings and constrained repair and maintenance expenses due to our improved resident retention,' Lacy said. Despite those solid trends, UDR didn't change its full-year guidance. 'We feel good about 2025 thus far, but we have only completed the first four months of the year,' Toomey said. 'Accordingly, and [as] is customary for UDR at this time of year, we have reaffirmed our full-year 2025 guidance, and we'll reassess as we progress through peak leasing season.' The East Coast, which has 40% of the REIT's NOI, was UDR's strongest region in Q1. The region's occupancy sat at 97.5%, its blended lease rate growth was 2.5% and its same-store revenue growth was approximately 4.5%, which was slightly above the firm's full-year expectation for the region. Despite concerns about federal funding cuts, Washington, D.C., ranked as its best-performing market in the region with 97.7% occupancy and 3.5% YOY blended rent increases that trended to 4% in April. 'DC is one that's been strong to start the year — one that we're watching very closely,' Lacy said. 'We will pivot as necessary, as we kind of go through the year like we do with all of our properties in all of our markets.' On the West Coast, comprising roughly 35% of UDR's NOI, the REIT posted 97.2% occupancy, a blended lease rate growth of nearly 3% and same-store revenue growth of almost 3%. 'We continue to see positive momentum across Seattle and the San Francisco Bay Area due to return-to-office mandates, increased office leasing activity and quality-of-life improvements,' Lacy said. In the Sun Belt, occupancy was 97.1%, blended lease rate growth was negative 2.5% and YOY same-store revenue growth was barely positive. 'Among our Sun Belt markets, Tampa and Orlando are performing the best,' Lacy said. Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday.
Yahoo
13-05-2025
- Business
- Yahoo
UDR price target raised to $51 from $49 at Scotiabank
Scotiabank raised the firm's price target on UDR (UDR) to $51 from $49 and keeps a Sector Perform rating on the shares. The firm is adjusting its estimates on U.S. Real Estate & REITs in its coverage following Q1 results, the analyst tells investors. Quarterly results contained some negative surprises, but generally played out as expected, with most companies maintaining FY25 guidance, the firm notes. Real estate fundamentals tend to lag, so many are looking to see the potential impact of the slowing economy on H2 2025 results, the firm adds. Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on UDR: Disclaimer & DisclosureReport an Issue UDR price target raised to $51 from $48 at Barclays UDR Announces New Investor Information Release UDR price target lowered to $46 from $50 at BofA UDR Reports Strong Q1 2025 Results and Reaffirms Guidance UDR's Earnings Call: Strong Start to 2025 Amid Challenges
Time of India
12-05-2025
- Entertainment
- Time of India
Reality show winner Rakesh Poojary dies after collapsing at Mehendi function in Karnataka
(Credit- Instagram) MANGALURU: Rakesh Poojary , 34, winner of a Kannada reality show and actor in Kannada and Tulu films, died after collapsing at a friend's Mehendi function in Miyar in the early hours of Monday. Preliminary reports suggest the actor, a native of Tonse, Malpe, collapsed while conversing with friends at the event . A cardiac arrest is suspected to be the cause of death. Karkala Town Police said an Unnatural Death Report (UDR) is being registered, and further investigation is ongoing.
Time of India
10-05-2025
- Business
- Time of India
DGPS to make land survey accurate; reduces disputes, provides reliable records
Chennai: Property owners in Tamil Nadu can now breathe easy when it comes to land measurements and boundaries. The state has begun rolling out the Differential Global Positioning System (DGPS)- based land surveying method, replacing age-old chain and tape systems. This cutting-edge technology allows landowners to receive accurate digital maps with coordinates—down to a few centimetres—offering a major leap in transparency and nearly 1.4 lakh patta sub-division applications and around 2 lakh non-subdivision requests received monthly by the Commissionerate of Survey and Settlement, the move to DGPS promises faster turnaround, fewer disputes, and more reliable records. For landowners, this means they can track encroachments or verify property boundaries without waiting for traditional surveyors or making multiple visits to the revenue office."So far, 100 pattas have already been issued using this technology. A key benefit: once a DGPS survey is completed, landowners are provided a field measurement sketch, along with precise latitude and longitude coordinates. This can be used for legal, resale, or dispute-resolution purposes—and can be accessed from anywhere in the world," said P Madhusudhan Reddy, director of survey and successful pilot runs in Namakkal, Ranipet, and Virudhunagar, the technology has now been introduced in Chennai, Chengalpet, Tiruvallur, Coimbatore, and Tirupur. It's a game-changer, say officials, not just for revenue administration, but for the citizens who rely on clear, certified land ownership records. We are training govt staff on using the this shift possible is TN's extensive DGPS infrastructure. The state is the first in India to establish 70 Continuously Operating Reference Stations (CORS)—permanent GPS stations that ensure sub-centimetre accuracy in positioning. These are all linked to the national reference network, making TN's digital survey data part of a much larger national grid, said an simple terms, this means landowners will no longer need to request and wait for physical surveys for minor boundary verification or subdivision requests. The process is digital, secure, and accessible. "We have detailed UDR records of over 300 taluks in the state. There are more than five crore patta holders in the state. We welcome the move, but the survey technology, measurement, administration should be done by govt staff and not privatised. It is a crucial department and precision is very important. Outsourced person will not have the responsibility," said Anna Kuberan, secretary, TN Survey Officers Union.
