AvalonBay Communities Profit Rises 14% In Q1

(RTTNews) - AvalonBay Communities (AVB) revealed earnings for its first quarter that rose from last year.

The company said its bottom line totaled $284.59 million, or $2.07 per share. This was higher than $250.58 million, or $1.88 per share, in last year's first quarter.

Analysts had expected the company to earn $2.02 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance:

-Earnings (Q1): $284.59 Mln. vs. $250.58 Mln. last year. -Earnings Growth (Y-o-Y): 13.6% -EPS (Q1): $2.07 vs. $1.88 last year. -EPS Growth (Y-o-Y): 10.1% -Analysts Estimate: $2.02

-Guidance: Next quarter EPS guidance: $1.97 - $2.03