UDR Stock Down On Weak FFO, Net Loss In Q4; Guides Q1, FY25 Outlook; Lifts Dividend

(RTTNews) - Real Estate Investment Trust UDR Inc. (UDR) reported weak Funds from operations in its fourth quarter, despite revenue growth. The company reported a net loss, compared to a profit a year ago.

Further, UDR issued outlook for the first quarter and full year 2025, and raised dividend for the year ahead.

In pre-market activity on the NYSE, UDR is trading down 7.6% at $39.01. Funds from operations or FFO for the quarter declined to $172.7 million or $0.48 per share from $218.9 million or $0.61 per share in the fourth quarter a year ago.

During the three-month period, FFO as Adjusted rose to $225.3 million from $223.8 million recorded in the prior-year quarter. On a per share basis, FFO as Adjusted was $0.63, same as last year.

Adjusted FFO attributable, less recurring capital expenditures, came in at $193.7 million, compared to $193.6 million recorded last year. On a per share basis, adjusted FFO was steady at $0.54. In the fourth quarter, the company posted net loss of $6.2 million or $0.02 per share, compared to a profit of $31.8 million or $0.10 per share in the same period last year.

Total revenues came in at $422.7 million, up 2.3% from $413.8 million posted in the prior-year quarter. This was due to same-store revenue growth of 2.5% from last year and completed developments.

Looking ahead, for the first quarter of 2025, the company expects net income per share in the range of $0.24 to $0.26. FFO per share and FFOA per share is expected between $0.60 to $0.62.

For the year ahead, the company looks forward to net income per share between $0.56 to $0.66. FFO per share and FFOA per share is expected in the $2.45 to $2.55 range.

The company's Board of Directors announced a dividend of $1.72 per share for fiscal 2025, up 1.2% from last year's annual dividend.