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UDR, Inc.: Better Results But Less Benefit From Peaking Apartment Supply
UDRUDR(UDR) Seeking Alpha·2024-06-07 19:03

1D UDR UDR Alongside Q1 results, UDR did raise its full year guidance slightly, raising FFOA by 0.02to0.02 to 2.36-2.48.WiththeimprovementweareseeinginQ2datasofa,IexpecttoseeUDRreportresultstowardthetopendofguidance.IexpecttoseesequentialimprovementsinresultsinH2becausethesupplybackdropiscontinuingtogetmorefavorable,whichshouldenableongoingrentalgrowth.Iamlookingfor2.48. With the improvement we are seeing in Q2 data so fa, I expect to see UDR report results toward the top end of guidance. I expect to see sequential improvements in results in H2 because the supply backdrop is continuing to get more favorable, which should enable ongoing rental growth. I am looking for 2.45-2.50infundsfromoperationsasaresult.IDSOF202009btMaturitySchedule(2.50 in funds from operations as a result. IDS OF 20 2009 bt Maturity Schedule (M/We ...