UDR, Inc. (UDR) Tops Q2 FFO by 1c; Lifts Outlook
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UDR Announces Second Quarter 2015 Results and Increases Full-Year 2015 Earnings and Same-Store Guidance Ranges
July 27, 2015 4:05 PM EDTDENVER--(BUSINESS WIRE)-- UDR (the Company) Second Quarter 2015 Highlights:
Funds from Operations (FFO) per share was $0.41 (+6% year-over-year), FFO as Adjusted per share was $0.42 (+9%), and AFFO per share was $0.38 (+11%). Year-over-year same-store (SS) revenue and net operating income (NOI) growth for the quarter were 5.4 percent and 6.8 percent, respectively. As previously announced, the Company invested $136 million for a 48 percent interest in a $559 million development joint venture that is comprised of five communities, in various stages of construction, on the West Coast. The transaction closed in May 2015 and was immediately accretive to FFO... More