UDR Q4 Profit Down, But FFO Increases

(RTTNews) - UDR, Inc. (UDR) Tuesday reported fourth-quarter net income of $31.8 million or $0.10 per share, compared to net income of $43.4 million or $0.13 per share last year.

Funds from operations for the quarter was $218.9 million or $0.61 per share, compared to $196.7 million or $0.56 per share last year.

FFOA for the quarter was $223.8 million or $0.63 per share, compared to $213.2 million or $0.61 per share last year. AFFO was $0.54 per share, compared to $0.53 per share last year.

Revenues for the fourth quarter rose to $413.3 million from $399.7 million last year.

Analysts polled by Thomson Reuters expected earnings of $0.11 per share for the quarter on revenues of $409.8 million for the quarter.