UDR, Inc. Q1 Income Advances, but misses estimates

(RTTNews) - UDR, Inc. (UDR) announced a profit for its first quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $30.96 million, or $0.09 per share. This compares with $13.71 million, or $0.04 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.8% to $399.55 million from $357.27 million last year.

UDR, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $30.96 Mln. vs. $13.71 Mln. last year. -EPS (Q1): $0.09 vs. $0.04 last year. -Analyst Estimate: $0.11 -Revenue (Q1): $399.55 Mln vs. $357.27 Mln last year.

-Guidance: Next quarter EPS guidance: $0.11 to $0.13 Full year EPS guidance: $0.47 to $0.55