Despite challenging macroeconomic conditions, UDR Inc. (UDR), a leading multifamily real estate investment trust (REIT), reported relatively modest third quarter results with an increase in rental revenues and comparatively high same-store occupancy rates at 95.6%. Although rental revenues during the quarter increased to $150.3 million from $147.4 million in the year-ago period, year-over-year same-store revenues and net operating income decreased 3% and 3.7%, respectively.   During the quarter, UDR reported FFO (fund from operations) of $29.8 million or 19 cents per share compared to $49.6 million or 33 cents per share in the year-earlier quarter. FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. The decrease in FFO was primarily due to non-cash equity loss on an unconsolidated JV and loss relating to a debt tender offer. Excluding the one-time items, FFO ...

UDR Inc. (UDR), a leading multifamily real estate investment trust (REIT), recently augmented its apartment search application for Apple Inc.’s (AAPL) iPhone and iPod users, enabling consumers who are more reliant on smartphones than landlines or personal computers to find apartments in a more convenient way.   The upgraded technology utilizes smartphone’s built-in spatial awareness components such as GPS, accelerometer, and compass to create digitally enhanced pictures of apartments. Furthermore, the new application software enables users to point their smartphones in any direction to locate and view available apartments under the search parameters within a radius of 10 mile, by utilizing Layar – an augmented reality browser.   The demographic and technographic data for the mobile market strategically fits into UDR’s up-market customer segmentation. Users can search apartments on all possible parameters such as location, price, and number of bedrooms and bathrooms, which are updated daily. To ...

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Friday September 4, 2009

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Southwest Airlines Co. (NYSE: LUV) announced today that the Company flew 6.7 billion revenue passenger miles (RPMs) in August 2009, a 1.0 percent increase from the 6.6 billion RPMs flown in August 2008. Available seat miles (ASMs) decreased 6.1 percent to 8.3 billion from the August 2008 level of 8.9 billion. The load factor for the month was 80.2 percent, compared to 74.6 percent for the same period last year. For August 2009, passenger revenue per ASM is estimated to have decreased in the five to six percent range as compared to August 2008.

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Tuesday August 18, 2009

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Lazard Ltd (NYSE:LAZ) announced today that Tom Tuft, one of the leading bankers in equity capital markets, will join Lazard as Chairman, Global Capital Markets Advisory, and a Vice Chairman, US Investment Banking in November. Mr. Tuft, based in New York, will join Lazard from Goldman Sachs & Co., where he most recently served as Chairman of its Equity Capital Markets group.

UDR, Inc. (NYSE: UDR), a leading multifamily real estate investment trust (REIT), today announced that it has extended the early tender deadline in respect of its previously announced cash tender offer and consent solicitation (the “Offer”) for its

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