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UDR Announces Second Quarter 2012 Results

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
Acquisition-related costs (0.001) (0.010) (0.003) (0.014)
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
Other       (0.001)       -       (0.001)       -
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.

Stock quotes in this article: UDR 

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