UDR Q2 2023 net income $1.05/share, far above guidance; raises full-year outlook

UDR, Inc.

2023-Q2 EPS reported $1.14 revenue$804,097,000

Q2 net income per diluted share $1.05, above guidance of $0.11-$0.13 and prior year $0.01; includes gain from joint venture.
FFO per share $0.63 (guidance $0.60-$0.62, +21% YoY); FFOA $0.61, AFFO $0.55.
Same-store NOI +7.7% YoY (straight-line basis), revenue +7.6%, expense +7.4%.
Closed $507.2M JV with LaSalle; UDR retains 51% ownership in four communities.
Subsequent to Q2, agreed to acquire six communities for ~$401.9M; raises full-year net income guidance to $1.35-$1.39.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UDR, Inc. reported quarter ended June 30, 2023 results: net income $1.05, EPS $1.05. Guidance raised.

Period: quarter ended June 30, 2023
Net income: $1.05
EPS: $1.05
Guidance: raised
Result: reported results

Exact text from the filing

UDR ANNOUNCES SECOND QUARTER 2023 RESULTS AND UPDATES FULL-YEAR 2023 GUIDANCE

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UDR, Inc. filing history →

Source: SEC EDGAR

accession 0000074208-23-000053

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