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UDR Q4 FFO Declines; Guides FY10
Tuesday February 09, 2010 19:52:00 EST

(RTTNews) - Tuesday, multifamily real estate investment trust UDR, Inc. (UDR) reported a decline in funds from operations for the fourth quarter, as same-store revenues declined 3.7% as a result of a 5.4% decline in rents, with a 5.1% decline in same-store net operating income. Earnings were also impacted by a debt repayment penalty. Looking ahead, the company also provided its outlook for the full year 2010.

Fourth quarter net loss available to common stockholders widened to $24.79 million or $0.16 per share from $18.38 million or $0.13 per share a year-ago.

The company generated funds from operations or FFO of $44.5 million or $0.27 per share for the quarter, compared with an FFO of $53.3 million or $0.36 per share in the fourth (continued...)

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