AvalonBay Communities Profit Declines In Q4, but beats estimates

(RTTNews) - AvalonBay Communities (AVB) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $241.29 million, or $1.72 per share. This compares with $335.21 million, or $2.40 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $1.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance (GAAP) :

-Earnings (Q4): $241.29 Mln. vs. $335.21 Mln. last year. -EPS (Q4): $1.72 vs. $2.40 last year. -Analyst Estimates: $1.52

-Guidance: Next quarter EPS guidance: $1.05 - $1.15