UDR reports Q1 FFOA 62c, consensus 62c

Reports Q1 revenue $425.85M, consensus $426.58M. “First quarter Same-Store and FFOA per diluted share results aligned with our expectations, and we adhered to our capital allocation heatmaps to create shareholder value by selling assets at compelling valuations and repurchasing our stock. In addition, I am excited to announce that UDR (UDR) has become the first residential REIT to offer monthly dividends. This strategic pivot in dividend policy is consistent with our effort to expand access to capital. Our responsiveness to growing interest in monthly cash distributions is emblematic of UDR’s culture of innovation and long-term value creation,” said Tom Toomey, UDR’s Chairman, President, and CEO.