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United Dominion Realty Earnings Rise
Real estate player United Dominion Realty Trust(UDR Quote) said its third-quarter funds from operations rose 2.9% from a year ago, reflecting higher rental income.
For the quarter, funds from operations were $60.2 million, or 41 cents a share, compared with $58.5 million, or 39 cents a share, a year ago. Analysts polled by Thomson First Call were expecting funds from operations of 41 cents a share.
Rental income rose 12.6% to $177.6 million, lower than the consensus estimate of $180.6 million.
The Highlands Ranch, Colo.-based company earned $59.4 million, or 42 cents a share, in the quarter, compared with $15.1 million, or 8 cents a share, a year ago. ...
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