UDR, Inc. (UDR) Misses Q1 EPS by 2c, Revenues Beat; Withdraws FY20 Guidance
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UDR Announces First Quarter 2020 Results and Withdraws Full-Year 2020 Guidance
May 6, 2020 4:16 PM EDTDENVER--(BUSINESS WIRE)-- UDR, Inc. (the Company) First Quarter 2020 Highlights:
Net income per share was $0.01, Funds from Operations (FFO) per share was $0.53, FFO as Adjusted (FFOA) per share was $0.54, and Adjusted FFO (AFFO) per share was $0.51. Net income attributable to common stockholders was $4.2 million as compared to $23.5 million in the prior year period. The decrease was primarily due to increased depreciation from communities acquired during 2019 and 2020, partially offset by net operating income (NOI) growth. The Company introduced Combined Same-Store metrics, which include the impact of the 11 Joint Venture communities that were acquired in 2019 totaling... More