UDR Announces Fourth Quarter and Full-Year 2020 Results and 2021 Guidance
UDR, Inc. reported its Fourth Quarter 2020 results, revealing a net income per share of $0.09 and a decline in net income attributable to common stockholders to $25.5 million from $96.9 million year-over-year.
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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
|
Expense
Growth /
|
NOI
|
% of Combined
Portfolio(1) |
Physical
|
YOY
|
West |
(9.7)% |
|
(14.0)% |
|
|
(1.6)% |
Mid-Atlantic |
(1.5)% |
|
(2.5)% |
|
|
|
Northeast |
(12.8)% |
|
(21.9)% |
|
|
(2.2)% |
Southeast |
|
|
|