AvalonBay: Q2 Earnings Snapshot
By AP News
Published - Aug 01, 2024, 01:48 AM ET
Last Updated - Aug 01, 2024, 01:48 AM EDT
ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AvalonBay Communities Inc. (AVB) on Wednesday reported a key measure of profitability in its second quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Arlington, Virginia, said it had funds from operations of $394.6 million, or $2.77 per share, in the period.
The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $2.71 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.
