UDR Q2 FFOA $0.62 meets high-end guidance; raises full-year 2024 FFOA & AFFO midpoint by $0.02

UDR, Inc.

2024-Q2 EPS reported $0.21 revenue$828,954,000

Q2 2024 net income $0.08/diluted share; FFO $0.60, FFOA $0.62, AFFO $0.55 per share.
Same-store revenue +2.5%, expense +3.7%, NOI +2.0% YoY (concessions straight-lined).
Full-year 2024 FFOA guidance raised to $2.42-$2.50 (midpoint $2.46); AFFO to $2.16-$2.24 (midpoint $2.20).
Completed $134M 330-home community in Tampa, FL during Q2.
Post-quarter: funded $25.9M preferred equity DCP at 10.75% return; received $17.2M partial paydown on Vernon Boulevard.

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