WASHINGTON (dpa-AFX) - UDR Inc. (UDR) announced the company now expects 2016 FFO as adjusted per share to be in a range of $1.78 to $1.80, increased from previously stated guidance of $1.77 to $1.80. The company has reaffirmed its previously provided same-store revenue growth guidance range of 5.50% to 6.00%. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.78. Analysts' estimates typically exclude special items.
UDR expects fourth-quarter FFO as adjusted per share in a range of $0.45 to $0.47. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.46.
Third-quarter FFO as adjusted per common share and unit was $0.45 compared to $0.42, last year. Total revenue increased by 10 percent, to $243.3 million. The company said the increase was primarily due to growth in revenue from stabilized, non-mature communities and same-store communities. Same-store NOI increased 6.4 percent year-over-year in the third quarter of 2016 and was driven by same-store revenue growth of 5.3 percent against a 2.5 percent increase in same-store expenses.
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