UDR Q2 Profit Doubles to $69M, Raises Full-Year EPS Outlook
UDR sits 19% above its 52-week low of $32.94.
Summary
UDR's Q2 GAAP net income nearly doubled to $69M, or $0.21 per share, from $37.7M a year ago, while revenue held steady at $425.4M. The company issued Q3 EPS guidance of $0.13-$0.15 and raised its full-year EPS view to $1.03-$1.11. This follows the 8-K filed earlier today that highlighted an FFOA beat and raised outlook, but this wire adds the specific GAAP figures and quarterly guidance. The profit surge and upward revision reinforce the strong leasing and buyback narrative from recent months.
At the time of this announcement, UDR was trading at $39.21 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $12.8B. The 52-week trading range was $32.94 to $42.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.