UDR, Inc. Reports Drop In Q2 Income, misses estimates

(RTTNews) - UDR, Inc. (UDR) reported earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line came in at $3.98 million, or $0.01 per share. This compares with $10.66 million, or $0.04 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.6% to $369.17 million from $311.35 million last year.

UDR, Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $3.98 Mln. vs. $10.66 Mln. last year. -EPS (Q2): $0.01 vs. $0.04 last year. -Analyst Estimates: $0.07 -Revenue (Q2): $369.17 Mln vs. $311.35 Mln last year.

-Guidance: Full year EPS guidance: $0.19 to $0.23