UDR, Inc. Profit Rises In Q1, Beats estimates

(RTTNews) - UDR, Inc. (UDR) revealed earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $12.61 million, or $0.04 per share. This compares with $2.05 million, or $0.01 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.5% to $357.27 million from $301.44 million last year.

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

-Earnings (Q1): $12.61 Mln. vs. $2.05 Mln. last year. -EPS (Q1): $0.04 vs. $0.01 last year. -Analyst Estimate: $0.03 -Revenue (Q1): $357.27 Mln vs. $301.44 Mln last year.

-Guidance: Next quarter EPS guidance: $0.04 to $0.06 Full year EPS guidance: $0.24 to $0.30