UDR Q3 FFO Rises

(RTTNews) - UDR Inc. (UDR) Tuesday reported third-quarter funds from operations of $110.4 million or $0.41 per share, up from $98.0 million or $0.37 per share last year.

Net income for the quarter was $39.6 million or $0.16 per share, up from $2.3 million or $0.01 per share last year.

Revenues for the quarter rose to $206.8 million from $191.1 million last year.

Analysts polled by Thomson Reuters expected FFO of $0.40 per share on revenues of $203.46 million for the quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company expects FFO of $0.38 to $0.40 per share. For the full year 2014, the company now expects FFO of $1.54 to $1.56 per share, up from prior outlook of $1.52 to $1.56 per share. Analysts currently estimates FFO of $0.39 per share and $1.54 per share for the fourth quarter and full year 2014, respectively.