UDR Q4 2020 Earnings Report

UDR reported fourth quarter 2020 results, including net income per share of $0.09, FFO per share of $0.39, FFOA per share of $0.49, and AFFO per share of $0.43.

Key Takeaways

UDR's fourth quarter 2020 results showed a net income per share of $0.09, FFO per share of $0.39, FFOA per share of $0.49 and AFFO per share of $0.43. The company sold DelRay Tower for $145.0 million and acquired Andover Place at Cross Creek and Station on Silver for $122.5 million and $128.6 million, respectively.

Net income per share was $0.09, FFO per share was $0.39, FFOA per share was $0.49, and AFFO per share was $0.43.

Net income attributable to common stockholders was $25.5 million.

The Company settled approximately 2.1 million shares of common stock under its previously-announced forward equity sales agreements at a weighted average net price of $48.23 for proceeds of $102.3 million.

The Company issued $350.0 million of unsecured debt at an effective interest rate of 1.94 percent that matures in March 2033 and used a portion of the proceeds to repay $250.6 million of higher cost debt.