HIGHLANDS RANCH, Colo. (AP) _ UDR Inc. (UDR) on Tuesday reported a key measure of profitability in its second quarter. The results missed Wall Street expectations.

The Highlands Ranch, Colorado-based real estate investment trust said it had funds from operations of $164.6 million, or 51 cents per share, in the period.

The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 53 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $56.7 million, or 19 cents per share.

The real estate investment trust posted revenue of $307.3 million in the period. Its adjusted revenue was $306 million, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $315.9 million.

The company's shares have fallen 23% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $35.88, a decrease of 23% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UDR at https://www.zacks.com/ap/UDR

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