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.
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