Feb 5 (Reuters) - UDR UDR.N forecast 2025 funds from operations (FFO) below Wall Street estimates on Wednesday, as diminishing rental rates in its Sun Belt properties offset gains from the East Coast.
The Sun Belt region refers to states in the southern part of the United States, extending from Virginia and Florida in the southeast to Nevada in the southwest.
The company expects its 2025 FFO to be in a range of $2.45 to $2.55 per share, the midpoint of which is below analysts' estimates of $2.51 per share, according to data compiled by LSEG.
The Highlands Ranch, Colorado-based real estate investment trust reported a fourth-quarter adjusted FFO of $0.54 per share, compared with analysts' estimates of $0.63 per share.
Total revenue for the quarter ended December 31 was $422.7 million, up 2.3% from a year earlier. Analysts, on average, were expecting revenue of $420.6 million in the fourth quarter, according to data compiled by LSEG.
"As we look ahead, we see easing supply pressures, a resilient labor market, and relative affordability of apartments," said Tom Toomey, UDR's chairman and CEO.
(Reporting by Aishwarya Jain and Abhinav Parmar; Editing by Mohammed Safi Shamsi)
((Aishwarya.Jain@thomsonreuters.com;))
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