AvalonBay Communities Profit Climbs In Q3, Beats estimates

(RTTNews) - AvalonBay Communities (AVB) revealed earnings for its third quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $494.75 million, or $3.53 per share. This compares with $78.91 million, or $0.56 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance (GAAP) :

-Earnings (Q3): $494.75 Mln. vs. $78.91 Mln. last year. -EPS (Q3): $3.53 vs. $0.56 last year. -Analyst Estimate: $1.26