WASHINGTON (dpa-AFX) - AvalonBay Communities (AVB) released a profit for third quarter that decreased from last year.
The company's profit came in at $78.91 million, or $0.56 per share. This compares with $147.70 million, or $1.05 per share, in last year's third quarter.
Excluding items, AvalonBay Communities reported adjusted earnings of $287.33 million or $2.06 per share for the period.
Analysts had expected the company to earn $0.77 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
AvalonBay Communities earnings at a glance:
-Earnings (Q3): $287.33 Mln. vs. $289.81 Mln. last year. -EPS (Q3): $2.06 vs. $2.06 last year. -Analysts Estimate: $0.77
-Guidance: Next quarter EPS guidance: $2.19 - $2.29 Full year EPS guidance: $8.18 - $8.28
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