AvalonBay Communities Reports Increase In Q1 Income, Beats estimates

(RTTNews) - AvalonBay Communities (AVB) reported earnings for its first quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $262.04 million, or $1.87 per share. This compares with $142.22 million, or $1.02 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance (GAAP) :

-Earnings (Q1): $262.04 Mln. vs. $142.22 Mln. last year. -EPS (Q1): $1.87 vs. $1.02 last year. -Analyst Estimate: $0.87

-Guidance: Next quarter EPS guidance: $2.20 - $2.32 Full year EPS guidance: $6.05 - $6.45