UDR (UDR) 10-Q 2013 Q2 Quarterly report

EXHIBIT 12.1

UDR, Inc.

Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends

(Dollars in thousands)

	Three Months Ended June 30,					Six Months Ended June 30,
	2013		2012			2013		2012
Income/(loss) from continuing operations	$	5,354	$	(23,123	)	$	5,045	$	(21,382	)
Add (from continuing operations):
Interest on indebtedness (a)	30,803		41,542			61,784		76,287
Portion of rents representative of the interest factor	521		517			1,041		1,033
	$	36,678	$	18,936		$	67,870	$	55,938
Fixed charges and preferred stock dividends (from continuing operations):
Interest on indebtedness (a)	$	30,803	$	41,542		$	61,784	$	76,287
Capitalized interest	8,206		5,136			16,576		9,988
Portion of rents representative of the interest factor	521		517			1,041		1,033
Fixed charges	$	39,530	$	47,195		$	79,401	$	87,308
Add:
Preferred stock dividends	$	931	$	1,840		$	1,862	$	4,148
Premium on preferred stock redemptions, net	—		2,791			—		2,791
Combined fixed charges and preferred stock dividends	$	40,461	$	51,826		$	81,263	$	94,247
Ratio of earnings to fixed charges	—		—			—		—
Ratio of earnings to combined fixed charges and preferred stock dividends	—		—			—		—

For the three months endedJune 30, 2013, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $2.9 million and $3.8 million, respectively.

For the six months endedJune 30, 2013, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $11.5 million and $13.4 million, respectively.

For the three months endedJune 30, 2012, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $28.3 million and $32.9 million, respectively.

For the six months endedJune 30, 2012, the ratio of earnings to fixed charges and the ratio of earnings to combined fixed charges and preferred stock dividends were deficient of 1:1 ratio by $31.4 million and $38.3 million, respectively.

(a) Interest on indebtedness for the three and six months ended June 30, 2012 is presented gross of the (charge)/benefit for early debt extinguishment of $(4.1) million and $285,000, respectively.