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UDR: 4Q Earnings Snapshot

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HIGHLANDS RANCH, Colo. (AP) _ UDR Inc. (UDR) on Tuesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The real estate investment trust, based in Highlands Ranch, Colorado, said it had funds from operations of $156 million, or 49 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 49 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $25.5 million, or 9 cents per share.

The real estate investment trust posted revenue of $302.4 million in the period. Its adjusted revenue was $301.2 million, falling short of Street forecasts. Seven analysts surveyed by Zacks expected $306.3 million.

For the year, the company reported funds from operations of $652.9 million, or $2.04 per share. Revenue was reported as $1.24 billion.

For the current quarter ending in April, UDR expects its per-share funds from operations to range from 46 cents to 48 cents.

The company expects full-year funds from operations in the range of $1.88 to $2 per share.

The company's shares have climbed 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.17, a decline of 17% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UDR at https://www.zacks.com/ap/UDR