AvalonBay Communities Q1 adjusted earnings Beat Estimates

(RTTNews) - AvalonBay Communities (AVB) released earnings for first quarter that decreased from last year.

The company's earnings totaled $142.22 million, or $1.02 per share. This compares with $167.97 million, or $1.19 per share, in last year's first quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $271.65 million or $1.95 per share for the period.

Analysts had expected the company to earn $0.73 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance:

-Earnings (Q1): $271.65 Mln. vs. $335.76 Mln. last year. -EPS (Q1): $1.95 vs. $2.39 last year. -Analysts Estimate: $0.73

-Guidance: Next quarter EPS guidance: $1.85 - $1.95