UDR, Inc. (UDR) Misses Q1 FFO by 1c; Boosts FY15 FFO Outlook
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UDR Announces First Quarter 2015 Results and Increases Full-Year 2015 Guidance
April 27, 2015 4:49 PM EDTDENVER--(BUSINESS WIRE)-- UDR (the Company) First Quarter 2015 Highlights:
Funds from Operations (FFO) per share was $0.43 (+19% year-over-year), FFO as Adjusted per share was $0.40 (+12%), and AFFO per share was $0.37 (+12%). Year-over-year same-store revenue and net operating income (NOI) growth for the quarter were 5.1 percent and 6.2 percent, respectively. The Company will invest $136 million for a 48 percent interest in a development joint venture comprised of five communities in various stages of construction on the West Coast. The transaction is expected to close in May 2015 and will be immediately accretive to FFO.... More