AvalonBay Communities Announces Retreat In Q1 Income, misses estimates

(RTTNews) - AvalonBay Communities (AVB) reported a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $146.90 million, or $1.05 per share. This compares with $262.04 million, or $1.87 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance (GAAP) :

-Earnings (Q1): $146.90 Mln. vs. $262.04 Mln. last year. -EPS (Q1): $1.05 vs. $1.87 last year. -Analyst Estimates: $1.13

-Guidance: Next quarter EPS guidance: $ 2.48 - $ 2.58 Full year EPS guidance: $ 5.69 - $ 6.09