UDR Q3 FFOA $0.63 meets low end of guidance; cuts FY 2023 outlook

UDR, Inc.

2023-Q3 EPS reported $1.24 revenue$1,214,228,000

Q3 FFOA $0.63 per share ($0.62-$0.64 guidance; $0.60 YoY); AFFO $0.55 vs $0.56-$0.58 guidance.
Same-store NOI +6.1% YoY, revenue +5.3%, expense +3.4% (straight-line concessions).
FY 2023 FFO per share midpoint lowered to $2.46 from $2.50; AFFO to $2.24 from $2.26.
Acquired 1,753-home Texas portfolio for ~$402.2M (previously announced).
Repurchased 0.6M shares at $40.13 avg price for $25.0M in Q3.

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 0.95

UDR, Inc. reported the quarter ended September 30, 2023 results: net income $0.10, EPS $0.10 per diluted share. Guidance lowered.

Period: the quarter ended September 30, 2023
Net income: $0.10
EPS: $0.10 per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

On October 26, 2023, UDR, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended September 30, 2023.

View on SEC.gov

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UDR, Inc. filing history →

Source: SEC EDGAR

accession 0000074208-23-000063

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