WASHINGTON (dpa-AFX) - AvalonBay Communities (AVB) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $241.29 million, or $1.72 per share. This compares with $335.21 million, or $2.40 per share, in last year's fourth quarter.
Analysts on average had expected the company to earn $1.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
AvalonBay Communities earnings at a glance (GAAP) :
-Earnings (Q4): $241.29 Mln. vs. $335.21 Mln. last year. -EPS (Q4): $1.72 vs. $2.40 last year. -Analyst Estimates: $1.52
-Guidance: Next quarter EPS guidance: $1.05 - $1.15
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