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UDR Announces Fourth Quarter and Full-Year 2020 Results and 2021 Guidance

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UDR, Inc. (the “Company”) Fourth Quarter 2020 Highlights:

  • Net income per share was $0.09, Funds from Operations (“FFO”) per share was $0.39, FFO as Adjusted (“FFOA”) per share was $0.49, and Adjusted FFO (“AFFO”) per share was $0.43.
  • Net income attributable to common stockholders was $25.5 million compared to net income of $96.9 million in the prior year period, primarily due to lower gains from sold properties and a decline in Combined Same-Store net operating income (“NOI”).
  • Year-over-year (“YOY”) Combined Same-Store results during the fourth quarter of 2020, with concessions accounted for on cash and straight-line bases, as compared to the fourth quarter of 2019 were as follows:

Region

Revenue
Growth /
(Decline)

Expense

Growth /
(Decline)

NOI
Growth /
(Decline)

% of Combined
Same-Store

Portfolio(1)

Physical
Occupancy(2)

YOY
Change in
Occupancy

West

(9.7)%

4.2%

(14.0)%

36.5%

95.0%

(1.6)%

Mid-Atlantic

(1.5)%

1.0%

(2.5)%

23.5%

97.0%

0.1%

Northeast

(12.8)%

8.1%

(21.9)%

16.2%

94.3%

(2.2)%

Southeast

3.2%

10.1%

0.2%

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Udr Inc

NYSE:UDR

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13.67B
329.60M
0.48%
103.5%
1.94%
REIT - Residential
Real Estate Investment Trusts
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United States
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