UDR reports Q4 FFO $0.61/share (miss guidance), FY 2024 SS NOI guidance -1.75%-1.75%

UDR, Inc.

2023-FY EPS reported $1.34 revenue$1,627,501,000

Q4 net income $0.10/diluted share (in-line); FFO $0.61 (vs guide $0.62-$0.64); AFFO $0.54 (vs guide $0.56-$0.58).
Full-year 2023 FFO $2.45/share (at low end of $2.45-$2.47 guide); FFOA $2.47; AFFO $2.21.
Q4 same-store NOI growth 2.3% YoY (straight-line basis); FY 2024 guidance for SS NOI growth -1.75% to 1.75%.
Acquired One Upland ($114.3M) and sold The Arbory ($78.6M); agreed to sell Crescent Falls Church ($100M), expected Q1 2024 close.
Consolidated Oakland JV after developer exit; recorded $24.3M non-cash loss ($0.07/diluted share).

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 fourth quarter 2023 results: EPS $0.10. Guidance initiated.

Period: fourth quarter 2023
EPS: $0.10
Guidance: initiated
Result: reported results

Exact text from the filing

Quarter Ended December 31 Metric 4Q 2023 Actual 4Q 2023 Guidance 4Q 2022 Actual $ Change vs. Prior Year Period % Change vs. Prior Year Period Net Income per diluted share $0.10 $0.08 to $0.10 $0.13 $(0.03) (23)%

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UDR, Inc. reported fiscal year ended December 31, 2023 results: EPS $1.34. Guidance initiated.

Period: fiscal year ended December 31, 2023
EPS: $1.34
Guidance: initiated
Result: reported results

Exact text from the filing

Full-Year (“FY”) Ended December 31 Metric FY 2023 Actual FY 2023 Guidance FY 2022 Actual $ Change vs. Prior Year Period % Change vs. Prior Year Period Net Income per diluted share $1.34 $1.32 to $1.34 $0.26 $1.08 415%

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UDR, Inc. filing history →

Source: SEC EDGAR

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