UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of
report (Date of earliest event reported): May 18, 2007
UDR, INC.
(Exact name of registrant as specified in charter)
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Maryland
(State or other jurisdiction of
incorporation)
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1-10524
(Commission File Number)
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54-0857512
(I.R.S. Employer
Identification No.) |
1745 Shea Center Drive, Suite 200, Highlands Ranch, Colorado 80129
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (720) 283-6120
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the following
provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 8.01. Other Events
UDR, Inc. (the “Company”) is re-issuing, in an updated format, its
historical financial statements for the fiscal years ended
December 31, 2006, 2005, and 2004, in
connection with the requirements of Statement of Financial Accounting Standards No. 144,
“Accounting for the Impairment or Disposal of Long-Lived Assets,” (“SFAS No. 144”). The provisions
of SFAS No. 144 require, among other things, that the primary assets and liabilities and the
results of operations of the Company’s real properties which
have been sold or are held for disposition, be classified as discontinued
operations and segregated in the Company’s Consolidated Statements of Operations and Balance
Sheets. In compliance with SFAS No.144, the Company has presented the net operating results and
the assets and liabilities of those properties sold or classified as held for disposition through
March 31, 2007, as discontinued operations for all periods presented. Under SEC requirements,
the same reclassification of continuing and discontinued operations as prescribed by SFAS No. 144
is required for all previously issued annual financial statements for each of the three years shown
in the Company’s last Annual Report on Form 10-K, if those financials are incorporated by reference
in subsequent filings with the SEC made under the Securities Act of 1933, even though those
financial statements relate to periods prior to the date of the reclassification. This
reclassification has no effect on the Company’s reported
stockholders’ equity, cash flows or net income available to common
stockholders.
This Current Report on Form 8-K updates Items 6, 7, 8 and 15 (Exhibit 12), of the Company’s
Annual Report on Form 10-K for the year ended December 31, 2006 (the “Form 10-K”), to reflect the
primary assets and liabilities and the results of operations of the Company’s real properties which
have been sold prior to March 31, 2007 or are held for
disposition at March 31, 2007, as
discontinued operations. The updated financial information is attached to this Current Report on
Form 8-K as Exhibit 99.1. All other items of the Company’s Form 10-K remain unchanged. No attempt
has been made to update matters in the Form 10-K except to the extent expressly provided above.
ITEM 9.01. Financial Statements and Exhibits
(d) Exhibits
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Description |
23.1
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Consent of Independent Registered Public Accounting Firm |
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99.1
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Updated financial information for the years ended
December 31, 2006, 2005, and 2004 |
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| Index To Exhibit 99.1 |
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Page Number |
Selected Financial Data
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Management’s Discussion and Analysis of Financial Condition and
Results of Operations
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Financial Statements and Supplementary Data
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Financial Statement Schedule —
Schedule III — Summary of Real Estate Owned
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48 |
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Computation of Ratio of Earnings to Combined
Fixed Charges and Preferred Stock Dividends
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57 |
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2