earnings
confidence medium
sentiment neutral
materiality 0.65
UDR Q4 net income $0.13/sh misses guidance; board raises dividend 10.5%
UDR, Inc.
2022-FY EPS reported
$0.26
revenue$1,517,386,000
- Q4 2022 FFO per share $0.56 below guidance $0.60-$0.62; FFOA $0.61 met midpoint.
- Full-year 2022 FFOA per share $2.33 at top of guidance; AFFO $2.11 within range.
- Board approved 10.5% dividend increase to $0.42/quarter, FY 2023 dividend $1.68 vs $1.52.
- Same-store NOI grew 14.5% YOY (straight-line basis); settled forward equity for $179.6M, debt-to-EBITDAre 5.6x.
- 2023 guidance: FFOA $2.45-$2.53, same-store NOI growth 6.25%-8.75%.