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|
|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|
|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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