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UDR, Inc. Q1 adjusted earnings Beat Estimates

UDR, Inc. (UDR) reported a profit for first quarter that declined from the same period last year.

The company's profit totaled $4.16 million, or $0.01 per share. This compares with $23.49 million, or $0.08 per share, in last year's first quarter.

Excluding items, UDR, Inc. reported adjusted earnings of $164.49 million or $0.51 per share for the period.

Analysts had expected the company to earn $0.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.8% to $321.48 million from $270.67 million last year.

UDR, Inc. earnings at a glance:

-Earnings (Q1): $164.49 Mln. vs. $144.64 Mln. last year.
-EPS (Q1): $0.51 vs. $0.47 last year.
-Analysts Estimate: $0.03
-Revenue (Q1): $321.48 Mln vs. $270.67 Mln last year.

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