UDR Reports Lower-Than-Expected Q3 Results
April 27, 2023
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UDR ($NYSE:UDR)’s funds from operation (FFO) of $0.57 per share fell short of the expected figure by $0.04, while revenue of $399.5M was lower than anticipated by $7.02M. The company also provided guidance below consensus estimates. UDR acquires, develops, and manages apartment communities throughout the United States.
Over the past few years, the company has dramatically increased its portfolio, resulting in increased operating income. Despite this, however, UDR’s third quarter results were still below expectations.
Market Price
On Wednesday, UDR reported its third quarter results and the results were lower than expected. The company’s stock opened at $40.8 and closed at $40.6, which marked a decrease of 0.7% from its prior closing price of $40.9. The lower-than-expected performance has caused investors to become concerned about the company’s future prospects. UDR is now facing a period of uncertainty as it works to identify strategies to improve its third quarter results and regain the confidence of investors. udr&utm_title=UDR_Reports_Lower-Than-Expected_Q3_Results”>Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Udr. udr&utm_title=UDR_Reports_Lower-Than-Expected_Q3_Results”>More…
| Total Revenues | Net Income | Net Margin |
| 1.52k | 82.51 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Udr. udr&utm_title=UDR_Reports_Lower-Than-Expected_Q3_Results”>More…
| Operations | Investing | Financing |
| 820.07 | -929.53 | 111.23 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Udr. udr&utm_title=UDR_Reports_Lower-Than-Expected_Q3_Results”>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 11.04k | 6.1k | 12.32 |
Key Ratios Snapshot
Some of the financial key ratios for Udr are shown below. udr&utm_title=UDR_Reports_Lower-Than-Expected_Q3_Results”>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 15.5% |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has analyzed the fundamentals of UDR and determined that it is a low risk investment from both a financial and business aspect. Our Risk Rating algorithm has found that the company’s balance sheet is solid and holds no significant risks. However, we have identified one risk warning that potential investors should be aware of. To find out more about this risk and to get the latest updates on UDR, sign up for a GoodWhale account today. udr&utm_title=UDR_Reports_Lower-Than-Expected_Q3_Results”>More…
Peers
The company was founded in 1972 and is headquartered in Highlands Ranch, Colorado. As of December 31, 2019, UDR Inc owned or had an interest in 71,214 apartment units across the United States. UDR Inc’s primary competitors are Camden Property Trust, Sun Communities Inc, and Altarea SCA. Camden Property Trust is a publicly traded real estate investment trust that focuses on the ownership, operation, and development of multifamily properties. Sun Communities Inc is a publicly traded real estate investment trust that owns, operates, and develops manufactured home communities and RV resorts. Altarea SCA is a French real estate company that focuses on the development and management of retail, office, and residential properties.
– Camden Property Trust ($NYSE:CPT)
Camden Property Trust is a publicly traded real estate investment trust focused on the ownership, management, and development of multifamily communities. The company was founded in 1993 and is headquartered in Houston, Texas. As of December 31, 2020, Camden Property Trust owned or had an ownership interest in interests in 158 multifamily properties containing 58,818 units.
– Sun Communities Inc ($NYSE:SUI)
Sun Communities Inc is a real estate investment trust (REIT) that owns and operates manufactured home communities in the United States. As of December 31, 2020, the Company owned and operated 253 manufactured home communities located in 28 states.
– Altarea SCA ($OTCPK:ATRRF)
Altarea SCA is a French real estate company with a market cap of 2.71B as of 2022. The company focuses on developing, managing, and investing in retail and office properties in France. As of 2019, Altarea SCA owns and manages a portfolio of over 100 properties totaling approximately 4.9 million square meters of space.
Summary
UDR, Inc. recently reported fourth quarter results that missed analysts’ expectations. The company also provided guidance below market expectations. Investors should consider the current financial performance and outlook before making investment decisions in UDR stock.
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