Monday, UDR Inc. (UDR) reported third-quarter funds from operations or FFO of $28.8 million or $0.18 per share, compared to FFO of $48.0 million or $0.32 per share in the year ago quarter.
On an adjusted basis, funds from operations or FFO of $29.8 million or $0.19 per share, compared to FFO of $49.6 million or $0.33 per share in the same quarter last year.
Excluding items, FFO-Core per share for the quarter was $0.31, up from FFO-Core per share of $0.30 in the prior year quarter.
On average, 19 analysts polled by Thomson Reuters expected the company to earn $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
Net loss available to common stockholders for the quarter was $40.8 million or $0.27 per share, compared to net loss of $9.8 million or $0.07 per share in the previous year quarter.
Rental income for the quarter was $150.3 million, up from $147.4 million in the comparable quarter last year. Analysts expected the company to report revenue of $149.03 million for the quarter.
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