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Sep 30, 2024
UDR Q3 2024 Earnings Report
UDR announced its third quarter results, which included net income per diluted share of $0.06, FFO per diluted share of $0.60, FFOA per diluted share of $0.62, and AFFO per diluted share of $0.54. The company also raised full-year 2024 guidance ranges.
Key Takeaways
UDR reported its Q3 2024 results, showcasing solid performance driven by continued resilience in the labor market and attractive relative affordability of apartment rentals. The company's same-store revenue increased by 1.2%, and they raised full-year 2024 FFOA per diluted share and Same-Store growth guidance expectations.
Net income per diluted share was $0.06.
FFO per diluted share was $0.60.
FFOA per diluted share was $0.62.
Same-Store revenue increased by 1.2%.
Forward Guidance
UDR has established guidance ranges for the fourth quarter of 2024 and updated its previously provided full-year 2024 guidance ranges.
Positive Outlook
- Full-Year 2024 FFO per diluted share is projected to be $2.42 to $2.44.
- Full-Year 2024 FFOA per diluted share is projected to be $2.47 to $2.49.
- Full-Year 2024 AFFO per diluted share is projected to be $2.21 to $2.23.
- Full-Year 2024 SS Revenue is projected to grow between 2.00% to 2.40%.
- Full-Year 2024 SS NOI is projected to grow between 1.00% to 1.40%.
Challenges Ahead
- Full-Year 2024 Net Income per diluted share is projected to be $0.38 to $0.40.
- 4Q 2024 Net Income per diluted share is projected to be $0.10 to $0.12.
- 4Q 2024 FFO per diluted share is projected to be $0.61 to $0.63.
- 4Q 2024 FFOA per diluted share is projected to be $0.62 to $0.64.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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