How did UDR's Q1 2024 EPS outperform forecasts?

UDR's Q1 2024 EPS outperformed forecasts due to a couple of factors:

1. **Revenue Growth**: UDR's total revenue increased by 2.4% year-over-year to $420.2 million, surpassing the estimated $418.23 million. This growth in revenue, although modest, contributed positively to the EPS, as the company's performance is not solely dependent on EPS but also revenue growth.
2. **Cost Management**: UDR's Funds from Operations (FFO) per diluted share was $0.60, which aligned with the lower end of the guidance range of $0.60 to $0.62. This indicates efficient cost management, which supported the EPS despite the challenges in profitability.

In conclusion, UDR's EPS outperformance can be attributed to a combination of revenue growth and effective cost management.