UDR Inc. (UDR) reported funds from operations of $45.5 million or $0.28 per share for the fourth quarter, compared to $58.3 million or $0.40 per share in the prior year quarter.
On adjusted basis, FFO was $45.5 million or $0.28 per share, compared to $58.3 million or $0.40 per share in the fourth quarter of 2008.
Net loss available to common stockholders was $24.8 million or $0.16 per share, compared to a loss of $18.1 million or $0.13 per share in the previous year quarter.
Rental income for the fourth quarter rose to $150.1 million from $149.5 million in the year-ago quarter.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share on revenue of $148.53 million for the quarter. Analysts' estimates typically exclude special items.
For full year 2010, the company expects FFO of $1.00 to $1.07 per share, and GAAP loss of $0.95 to a loss of $0.88 per share. Street expects FFO of $1.15 per share for the year.
For comments and feedback: editorial@rttnews.com