HIGHLANDS RANCH, Colo. (AP) — HIGHLANDS RANCH, Colo. (AP) — UDR Inc. (UDR) on Wednesday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.
The real estate investment trust, based in Highlands Ranch, Colorado, said it had funds from operations of $221 million, or 62 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 62 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 $21.4 million, or 6 cents per share.
The real estate investment trust, based in Highlands Ranch, Colorado, posted revenue of $420.2 million in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $416.5 million.
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