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News

UDR, Inc. Sees Q1 EPS $0.13-$0.15 Vs $0.10 Est.; AFFO $0.56-$0.58; Sees FY24 EPS $0.33-$0.45 Vs $0.40 Est.; AFFO $2.10-$2.22

Author: Benzinga Newsdesk | February 06, 2024 05:20pm

Outlook(1)

As shown in the table below, the Company has established the following guidance ranges for the first quarter and full-year 2024 for Net Income per share, FFO per share, FFOA per share, AFFO per share, and same-store growth.

  1Q 2024 Outlook

4Q 2023

Actual

 

Full-Year 2024 Outlook

Full-Year 2023 Actual
Net Income per diluted share $0.13 to $0.15 $0.10 $0.33 to $0.45 $1.34 
FFO per diluted share $0.60 to $0.62 $0.61 $2.36 to $2.48 $2.45 
FFOA per diluted share $0.60 to $0.62 $0.63 $2.36 to $2.48 $2.47 
AFFO per diluted share $0.56 to $0.58 $0.54 $2.10 to $2.22 $2.21 
          
YOY Growth: concessions reflected on a straight-line basis: 
SS Revenue N/A 2.5% 0.0% to 3.0% 6.2% 
SS Expense N/A 3.0% 4.25% to 6.25% 4.7% 
SS NOI N/A 2.3% (1.75)% to 1.75% 6.8% 
(1) Additional assumptions for the Company's first quarter and full-year 2024 outlook can be found on Attachment 13 of the Company's related quarterly Supplemental Financial Information ("Supplement"). A reconciliation of FFO per share, FFOA per share, and AFFO per share to GAAP Net Income per share can be found on Attachment 14(D) of the Company's related quarterly Supplement. Non-GAAP financial measures and other terms, as used in this earnings release, are defined and further explained on Attachments 14(A) through 14(D), "Definitions and Reconciliations," of the Company's related quarterly Supplement.

Posted In: UDR

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