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Free Research Report as UDR’s Revenues Grew 3.9% and AFFO Gained 5%

Stock Monitor: Preferred Apartment Communities Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 14, 2018 / If you want access to our free earnings report on UDR, Inc. (NYSE: UDR), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=UDR. The Company reported its first quarter fiscal 2018 operating and financial results on April 25, 2018. The Highlands Ranch, Colorado-based real estate investment trust beat revenue and FFO estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:


Active-Investors.com is currently working on the research report for Preferred Apartment Communities, Inc. (NYSE: APTS), which also belongs to the Financial sector as the Company UDR, Inc. Do not miss out and become a member today for free to access this upcoming report at:


Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, UDR most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:


Earnings Highlights and Summary

During Q1 2018, UDR's total revenues increased by 3.9% to $253.3 million compared to $243.8 million in Q1 2017. This increase was primarily attributable to a growth in revenues from same-store communities, stabilized, non-mature, and development communities. The Company's revenue numbers topped analysts' estimates of $253.0 million.

For Q1 2018, UDR's same-store net operating income (NOI) increased 2.7% y-o-y, and was driven by same-store revenue growth of 3.0% and an increase in same-store expenses of 3.6%. The Company's weighted average same-store physical occupancy increased by 30 basis points to 96.9% y-o-y. The Company's annualized rate of turnover was 40.0% in the reported quarter, representing a 120-basis point decline on a y-o-y basis.

UDR's net income attributable to common stockholders was $80.8 million, or $0.30 per diluted share, compared to $25.0 million, or $0.09 per diluted share, in Q1 2017. The increase was primarily due to higher gains on the sale of real estate.

UDR's funds from operations (FFO) per share was $0.47 compared to $0.45 in Q1 2017, matching Wall Street's estimates of $0.47 per share. The Company's adjusted FFO per share was $0.45 compared to $0.43 in the prior year's same quarter.

Development and Redevelopment Activities

At the end of Q1 2018, UDR's development pipeline totaled $810.5 million at its pro-rata ownership interest. Of this total, approximately 91% was funded. All of the Company's development communities were in lease-up as of the end of Q1 2018.

At the end of Q1 2018, UDR's DCP investment, including accrued return, totaled $159.3 million. The Company's activities during the reported quarter consisted of an investment of $20.0 million into Alameda Point, a 220-home project located in Alameda, CA, through a secured note. UDR also agreed to transition OLiVE DTLA, a 293-home, $129.4 million West Coast Development Joint Venture (WCDJV) community located in Los Angeles, from a Developer Capital Program (DCP) project into a long-term hold.

Wholly-Owned Transactional Activities

During Q1 2018, UDR sold Pacific Shores, a 264-home community located in Orange County, for $90.5 million, or $342,800 per home. At the time of the sale, the community had a weighted average monthly revenue per occupied home of $2,053 and was 47 years old.

Capital Markets and Balance Sheet

During Q1 2018, UDR repurchased approximately 593,000 common shares at an average price of $33.69 for approximately $20.0 million. At March 31, 2018, the Company had approximately $843.4 million of availability, through a combination of cash and undrawn capacity, on its credit facilities.

UDR's total indebtedness was $3.7 billion at March 31, 2018. The Company ended the quarter with a fixed-rate debt representing 86.7% of its total debt, a total blended interest rate of 3.7%, and a weighted average maturity of 5.1 years. UDR's consolidated leverage was 33.1% versus 32.9% in the year ago; its consolidated net-debt-to-EBITDA was flat at 5.8x y-o-y; and its consolidated fixed charge coverage ratio was 4.5x versus 4.4x in the year ago.

Stock Performance Snapshot

May 11, 2018 - At Friday's closing bell, UDR's stock marginally declined 0.79%, ending the trading session at $36.29.

Volume traded for the day: 851.16 thousand shares.

Stock performance in the last month – up 2.92%; and previous three-month period – up 7.40%

After last Friday's close, UDR's market cap was at $9.74 billion.

Price to Earnings (P/E) ratio was at 159.87.

The stock has a dividend yield of 3.55%.

The stock is part of the Financial sector, categorized under the REIT - Residential industry.


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