UDR: 3Q Earnings Snapshot

Associated Press
Updated ·1 min read

HIGHLANDS RANCH, Colo. (AP) _ UDR Inc. (UDR) on Thursday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.

The real estate investment trust, based in Highlands Ranch, Colorado, said it had funds from operations of $160.1 million, or 50 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 50 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $26.3 million, or 9 cents per share.

The real estate investment trust posted revenue of $310 million in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $305.2 million.

For the current quarter ending in December, UDR expects its per-share funds from operations to range from 48 cents to 50 cents.

The company's shares have decreased 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $29.92, a fall of 39% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UDR at https://www.zacks.com/ap/UDR