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UDR Withdraws Full-Year Guidance - Quick Facts

UDR, Inc. (UDR) said, as a result of uncertainties due to the ongoing COVID-19 pandemic, the company has withdrawn its previously provided full-year 2020 guidance.

First quarter net income per share was $0.01, FFO per share was $0.53, FFO as adjusted per share was $0.54, and adjusted FFO per share was $0.51.

First quarter total revenue increased 18.8 percent year-on-year, to $321.5 million. The company said the increase was primarily attributable to growth in revenue from operating and acquisition communities. First quarter combined same-store NOI increased 3.5 percent year-over-year, driven by combined same-store revenue growth of 3.0 percent and combined same-store expense growth of 1.7 percent.

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