WASHINGTON (dpa-AFX) - AvalonBay Communities (AVB) released earnings for first quarter that decreased from last year.
The company's earnings totaled $142.22 million, or $1.02 per share. This compares with $167.97 million, or $1.19 per share, in last year's first quarter.
Excluding items, AvalonBay Communities reported adjusted earnings of $271.65 million or $1.95 per share for the period.
Analysts had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
AvalonBay Communities earnings at a glance:
-Earnings (Q1): $271.65 Mln. vs. $335.76 Mln. last year. -EPS (Q1): $1.95 vs. $2.39 last year. -Analysts Estimate: $0.73
-Guidance: Next quarter EPS guidance: $1.85 - $1.95
Copyright RTT News/dpa-AFX
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