UDR, Inc. (UDR) Reports In-Line Q1 EPS, Offers Q2 & FY Guidance
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UDR Announces First Quarter 2016 Results Led by Strong Same-Store Growth
April 25, 2016 4:16 PM EDTDENVER--(BUSINESS WIRE)-- UDR (the Company) First Quarter 2016 Highlights:
Funds from Operations (FFO) per share was $0.43, FFO as Adjusted per share was $0.43 (+8% year-over-year), and AFFO per share was $0.41 (+11%). Year-over-year same-store revenue and net operating income (NOI) growth for the quarter were 6.4 percent and 8.0 percent, respectively. Commenced the construction of 345 Harrison Street, a 585-home development in Bostons South End, with an estimated cost of $367 million. Sold two land parcels located in Santa Monica, CA for $24 million. Issued $174 million of common equity in... More