Zacks Investment Research | Oct 25, 2016 09:42PM ET
UDR Inc. (NYSE:UDR) reported third-quarter 2016 funds from operations (“FFO”) as adjusted per share of 45 cents, in line with the Zacks Consensus Estimate. The figure was higher than the prior-year quarter tally of 42 cents.
The improvement was driven by growth in same-store revenue and net operating income (“NOI”). The company has narrowed its guidance for 2016.
Total revenue for this residential real estate investment trust (“REIT”) improved 10% year over year to $243.3 million. The figure also exceeded the Zacks Consensus Estimate of $242 million.