UDR, Inc. (UDR) Misses Q4 EPS by 1c, Revenues Miss

UDR, Inc. (NYSE: UDR) reported Q4 EPS of $0.09, $0.01 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $302.38 million versus the consensus estimate of $304.85 million.

“2020 proved to be a challenging but also gratifying year for UDR. Despite the economic realities brought on by the pandemic, our business and operating results have remained resilient due to ongoing advancements from our Next Generation Operating Platform, our diversified portfolio, a strong balance sheet, and the phenomenal dedication from all UDR associates,” said Tom Toomey, UDR’s Chairman and CEO. “2021 has started with signs of stability, including occupancy above 96 percent, higher levels of traffic, and concessions starting to ease. However, increased and extended regulatory actions, the timing and efficacy of widespread vaccinations, and the unknown cadence of the full reopening of the nation’s economy continue to pose risks to our business. Nevertheless, UDR has a strong team with a proven ability to execute our strategy, and the Company is well positioned to capitalize on future opportunities as demonstrated by our accretive capital recycling efforts. I commend our associates for their engagement and the compassion they have demonstrated with our residents during 2020 and look forward to a successful 2021.”

GUIDANCE:

UDR, Inc. sees Q1 2021 EPS of $0.14-$0.16.

UDR, Inc. sees FY2021 EPS of $0.13-$0.25.

For earnings history and earnings-related data on UDR, Inc. (UDR) click here.

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