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UDR Announces Third Quarter 2012 Results

UDR, Inc. (the "Company") (NYSE: UDR), a leading multifamily real estate investment trust, today announced its third quarter 2012 results.

The Company generated Funds from Operations (FFO) of $86.5 million or $0.33 per diluted share, for the quarter ended September 30, 2012, as compared to $73.0 million, or $0.32 per diluted share, in the third quarter of 2011. Excluding non-recurring items, the Company’s third quarter 2012 FFO-Core was $0.33 per diluted share. See the reconciliation below for further detail.

    Q3 2012   Q3 2011   YTD 2012   YTD 2011
FFO- Core per diluted share   $0.33   $0.32   $1.00   $0.94
Acquisition-related costs (0.005) (0.009) (0.009) (0.023)
Benefit/(Cost) associated with debt extinguishment - 0.002 0.001 (0.013)
Gain on sale of marketable securities - 0.011 - 0.027
Redemption of preferred stock - - (0.011) -
Gain on sale of TRS property - - 0.031 0.004
Other   -   (0.001)   (0.001)   (0.005)
FFO- Reported per diluted share   $0.33   $0.32   $1.01   $0.93

A reconciliation of FFO to GAAP Net Income can be found on Attachment 2 of the Company’s third quarter 2012 Supplemental Financial Information.

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