AvalonBay: Q1 Earnings Snapshot
By AP News
Published - Apr 25, 2024, 04:29 PM ET
Last Updated - May 27, 2024, 01:07 AM EDT
ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AvalonBay Communities Inc. (AVB) on Thursday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Arlington, Virginia, said it had funds from operations of $383.8 million, or $2.70 per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of $2.64 per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
