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Sep 30, 2020
UDR Q3 2020 Earnings Report
UDR reported a net loss per share of ($0.09) and funds from operations (FFO) per share of $0.42 for Q3 2020.
Key Takeaways
UDR's Q3 2020 results showed resilience, with leasing and occupancy supported by their Next Generation Operating Platform and a strong liquidity position. The company faced challenges in key markets like New York, San Francisco, and Boston, but saw stability in most of its portfolio.
Net loss per share was ($0.09), FFO per share was $0.42, FFOA per share was $0.50, and AFFO per share was $0.45.
Net loss attributable to common stockholders was ($26.3) million, compared to net income of $26.2 million in the prior year period.
The company repurchased approximately 597,500 common shares at an average price of $33.11 per share for total consideration of approximately $19.8 million.
UDR purchased Village at Valley Forge, a development site in the King of Prussia submarket of Philadelphia, PA, for $16.2 million.
Forward Guidance
For the fourth quarter of 2020, UDR expects net income per share to be between $0.17 and $0.19, FFO per share to be between $0.47 and $0.49, FFOA per share to be between $0.48 and $0.50 and AFFO per share to be between $0.43 and $0.45.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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