UDR Earnings: Investors Aren’t Moving the Stock Much

UDR, Inc. (NYSE:UDR) said Monday that its first quarter funds from operations were $56.83 million or $0.30 per share. UDR, Inc. is a self-administered real estate investment trust. The Company owns, operates, and develops apartment communities located nationwide.

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UDR Earnings Cheat Sheet for the First Quarter

Results: First quarter results include a one-time gain of $0.016 per share from the gain on the sale of marketable securities, offset by one-time charges of $0.024 per share for the write-off of deferred costs due to the early retirement of debt and acquisition-related costs. Excluding these one-time charges, FFO-Core would have been $0.30 per share. Results were higher than the $46.78 million or $0.28 per share last year.

Revenue: Rental income grew to $164.52 million from last year’s $145.15 million. Thirteen analysts estimated revenues of $169.33 million.

Actual vs. Wall St. Expectations: On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share.

Competitors to Watch: Avalon Bay Communities (NYSE:AVB), Equity Residential (NYSE:EQR), Colonial Property Trust (NYSE:CLP), Essex Property Trust (NYSE:ESS), Post Properties Inc. (NYSE:PPS), Camden Property Trust (NYSE:CPT), Mid-America Apartment (NYSE:MAA), Apartment Investment (NYSE:AIV), Home Properties Inc. (NYSE:HME), BRE Properties Inc. (NYSE:BRE).

Stock Performance: UDR shares are up 0.12%.

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