UDR, Inc. (UDR) Reports In-Line Q3 FFO, Offers Guidance
UDR, Inc. (NYSE: UDR) reported Q3 FFO of $0.38, in-line with the analyst estimate of $0.38. Revenue for the quarter came in at $206.8 million versus the consensus estimate of $203.5 million.
UDR, Inc. sees Q4 2014 FFO of $0.38-$0.40, versus the consensus of $0.39.
Outlook
For the fourth quarter of 2014, the Company has established the following guidance ranges:
Current | ||||
| FFO per share | $0.38 to $0.40 | |||
| FFO as Adjusted per share | $0.38 to $0.40 | |||
| AFFO per share | $0.33 to $0.35 | |||
For the full-year 2014, the Company has increased its earnings guidance ranges by $0.01 at the midpoints due to a variety of items. Below are the full-year guidance ranges:
Revised | Previous | ||||||||||||
| FFO per share | $1.54 to $1.56 | $1.52 to $1.56 | |||||||||||
| FFO as Adjusted per share | $1.51 to $1.53 | $1.49 to $1.53 | |||||||||||
| AFFO per share | $1.34 to $1.36 | $1.32 to $1.36 | |||||||||||
For the full-year 2014, the Company has increased its same-store revenue growth guidance range which is offset by higher expected same-store expense growth. Same-store NOI growth expectations remain unchanged at the midpoint although the range was tightened. Below are the full-year guidance ranges:
Revised | Previous | ||||||||||||
| Revenue | 4.00% to 4.50% | 3.75% to 4.25% | |||||||||||
| Expense | 2.25% to 2.75% | 1.75% to 2.25% | |||||||||||
| Net operating income | 4.75% to 5.25% | 4.50% to 5.50% | |||||||||||
| Physical occupancy | 96.5% | 96.5% |
For earnings history and earnings-related data on UDR, Inc. (UDR) click here.