(RTTNews) -  On February 5, 2010, market rival apartment Investment and Management Co. reported a loss for the fourth quarter that narrowed from the previous year, reflecting lower operating expenses that more than offset a decline in revenues.

Full year FFO declined to $181.99 million or $1.14 per share from $204.88 million or $1.43 per share in the year-ago period. Adjusted FFO for the year declined to $189.64 million or $1.19 per share from $214.81 million or $1.50 per share in the year-ago period.

Net loss available to common stock holders for the year narrowed to $95.85 million or $0.64 per share from $688.70 million or $5.29 per share in the year-ago period.

The street estimated earnings of $1.15 per share on a revenue of $601.18 million.
Rental income for the full year increased to $602.89 million from $563.40 million a year-ago. The Street estimated revenue of $601.18 million for the year.

UDR closed Tuesday's last trade at $15.09, down $0.43 or 2.77%, on a volume of 4.4 million shares on the New York Stock Exchange. In the after hours the stock traded down $0.03 or 0.21%.

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by RTT Staff Writer

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