UDR Increases 2018 Earnings, Same-store Growth Guidance - Quick Facts

(RTTNews) - UDR, Inc. (UDR) announced, for the full-year 2018, the company has increased its earnings guidance ranges. FFO as adjusted per share is now projected to be in the range of $1.93 to $1.96 (prior outlook range, $1.91 to $1.95). AFFO per share is now now projected to be in a range of $1.78 to $1.81 (prior guidance range, $1.76 to $1.80). Revenue is now projected to be in the range of 3.00% to 3.50%, revised from prior range of 2.50% to 3.50%.

For the second-quarter, net income per share was $0.07, FFO per share was $0.49, FFO as adjusted per share was $0.49, and adjusted Funds from Operations per share was $0.45.

In the second quarter, total revenue increased by 4.7 percent year-over-year, to $259.7 million. The company said the increase was primarily attributable to growth in revenue from operating communities. In the second quarter, same-store NOI increased 3.5 percent year-over-year and was driven by same-store revenue growth of 3.4 percent and a 2.9 percent increase in same-store expenses.