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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