UDR Announces Q4 2024 Preliminary Results, FFOA At $0.63/Share, FY24 At $2.48/Share; SS NOI Growth At 2.1% In Q4, 1.5% For Full-Year; Revenue Increased By 2.5% YoY In Q4; Weighted Average Physical Occupancy Rose To 96.8%

Benzinga · Jan 6 21:45

Financial and Operating Results

Funds From Operations as Adjusted ("FFOA") per diluted share are expected to be $0.63 for the fourth quarter 2024 and $2.48 for the full-year 2024, each of which are in-line with the midpoints of the Company's previously provided guidance as described in its third quarter 2024 earnings release published on October 30, 2024.

Preliminary Same-Store ("SS") results for the fourth quarter 2024 and full-year 2024 are summarized below and are better than the midpoints of previously provided guidance.

SS Growth / (Decline)	Year-Over-Year: 4Q 2024 vs. 4Q 2023	Full-Year: 2024 vs. 2023
Revenue	2.5%	2.3%
Expense	3.4%	4.3%
Net Operating Income ("NOI")	2.1%	1.5%

SS Metric	3Q 2024, as reported	4Q 2024, preliminary
Weighted Average Physical Occupancy	96.3%	96.8%
Effective Blended Lease Rate Growth	1.8%	(0.6)%

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UDR Announces Q4 2024 Preliminary Results, FFOA At $0.63/Share, FY24 At $2.48/Share; SS NOI Growth At 2.1% In Q4, 1.5% For Full-Year; Revenue Increased By 2.5% YoY In Q4; Weighted Average Physical Occupancy Rose To 96.8%

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