UDR Chief Investment Officer Joe Fisher Steps Down Amidst Reshuffling of Residential Property Assets

UDR Chief Investment Officer Joe Fisher has stepped down. UDR, Inc. is a residential property assets developer, manager, and promoter with a portfolio of 168 assets (55,550 apartments) worth USD 16 billion.

UDR Inc. (NYSE: UDR), a leading multifamily real estate investment trust (REIT), has announced the departure of Joseph D. Fisher as President and Chief Investment Officer, effective September 2, 2025 [1]. Fisher joined UDR in 2017 and will provide transition assistance through December 31, 2025.

The company's Board of Directors has appointed Thomas W. Toomey, the current Chairman and CEO, as President, in addition to his existing roles. Toomey and other senior management team members will assume Fisher's responsibilities. UDR currently owns or has ownership positions in 60,535 apartment homes, including 300 under development [2].

Under the terms of the separation agreement, Fisher will receive a severance payment of $3.0 million, with an additional contingent severance of $3.0 million payable over 12 months, contingent upon his continued compliance with the non-solicitation, confidentiality, and other material terms of the agreement. If Fisher fails to comply with the material terms, the company will be entitled to claw back 50% of the contingent severance previously paid [1].

This announcement follows UDR's strong second quarter 2025 results, where the company reported a 38% increase in net income per share to $0.11, driven by a 2.9% year-over-year growth in same-store net operating income (NOI), revenue growth of 2.5%, and controlled expense growth of 1.7%. Total revenue increased by $10.1 million year-over-year (YOY) to $425.4 million [2].

References:
[1] https://www.stocktitan.net/sec-filings/UDR/8-k-udr-inc-reports-material-event-f4b80adcfba1.html
[2] https://www.stocktitan.net/news/UDR/