AvalonBay Communities Q4 adjusted earnings Beat Estimates

(RTTNews) - AvalonBay Communities (AVB) released earnings for fourth quarter that declined from the same period last year.

The company's bottom line totaled $167.65 million, or $1.20 per share. This compares with $385.73 million, or $2.79 per share, in last year's fourth quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $339.91 million or $2.43 per share for the period.

Analysts had expected the company to earn $1.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.7% to $466.21 million from $453.86 million last year.

AvalonBay Communities earnings at a glance:

-Earnings (Q4): $339.91 Mln. vs. $319.52 Mln. last year. -EPS (Q4): $2.43 vs. $2.31 last year. -Analysts Estimate: $1.22 -Revenue (Q4): $466.21 Mln vs. $453.86 Mln last year.