UDR, Inc. (the "Company") (NYSE: UDR), a leading multifamily real estate investment trust, today announced its second quarter 2012 results.
The Company generated Funds from Operations (FFO) of $81.2 million or $0.33 per diluted share, for the quarter ended June 30, 2012, as compared to $63.6 million, or $0.31 per diluted share, in the second quarter of 2011. Excluding all non-recurring items, the Company’s second quarter 2012 FFO-Core was $0.33 per diluted share. See the reconciliation below for further detail.
|Q2 2012||Q2 2011||YTD 2012||YTD 2011|
|FFO- Core per diluted share||$0.33||$0.32||$0.67||$0.62|
|Benefit/(Cost) associated with debt extinguishment||(0.017)||-||0.001||(0.021)|
|Gain on sale of marketable securities||-||-||-||0.016|
|Redemption of preferred stock||(0.011)||-||(0.012)||-|
|Gain on sale of TRS property||0.031||0.004||0.032||0.005|
|FFO- Reported per diluted share||$0.33||$0.31||$0.68||$0.61|
A reconciliation of FFO to GAAP Net Income can be found on Attachment 2 of the Company’s second quarter 2012 Supplemental Financial Information.
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