AvalonBay Communities Announces Initial 2017 Outlook, Dividend Increase

(RTTNews) - AvalonBay Communities, Inc. (AVB) announced, for the first-quarter, the company expects: EPS of $1.75-$1.81; and core FFO per share of $2.06-$2.12. For fiscal 2017, the company projects: EPS in a range of $6.42-$6.82; and core FFO per share in a range of $8.44-$8.84.

AvalonBay Communities reported an increase in fourth-quarter EPS of 55.8% to $1.76 from $1.13 for the prior year period. Core FFO per share increased 6.5% to $2.12 from $1.99 for the prior year period.

The company's Board declared a dividend for the first quarter of 2017 of $1.42 per share on the company's common stock. The declared dividend is a 5.2% increase over the Company's prior quarterly dividend of $1.35 per share. The dividend is payable on April 17, 2017 to common stockholders of record as of March 31, 2017.