AvalonBay: Q3 Earnings Snapshot
By AP News
Published - Nov 04, 2024, 04:24 PM ET
Last Updated - Dec 16, 2024, 05:41 PM EST
ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — AvalonBay Communities Inc. (AVB) on Monday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Arlington, Virginia, said it had funds from operations of $390.7 million, or $2.74 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.
