UDR Updates 2016 Earnings Growth Guidance - Quick Facts

(RTTNews) - UDR (UDR) tightened and increased FFO as adjusted and AFFO per share guidance to $1.77 to $1.80 from $1.75 to $1.81 and $1.61 to $1.64 from $1.59 to $1.65, respectively. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.78. Analysts' estimates typically exclude special items. For the full-year 2016, the company has reaffirmed its previously provided same-store growth guidance ranges of revenue growth in a range of 5.50% to 6.00%.

For the third quarter of 2016, the company expects: FFO as Adjusted per share of $0.44 to $0.46, and AFFO per share of $0.39 to $0.41. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.45.

For the second-quarter, net income attributable to common stockholders was $17.0 million as compared to $85.9 million in the prior year. The decrease year-over-year was primarily due to lower gains on the sale of real estate. FFO per common share and unit increased to $0.44 from $0.41.

Total revenue increased by 11 percent, to $238.8 million for the second quarter. The company said this increase is primarily due to growth in revenue from stabilized, non-mature communities and same-store communities.