Avalonbay Communities Q1 FFO Rises

(RTTNews) - Avalonbay Communities Inc. (AVB) Wednesday said first-quarter funds from operations, or FFO, attributable to common stockholders increased to $212.8 million or $1.64 per share from $93.5 million or $0.78 per share in the same period last year.

On average, 21 analysts polled by Thomson Reuters expected the company to earn $1.63 per share for the quarter. Analysts' estimates typically exclude special items.

Earnings attributable to common stockholders increased to $141.7 million or $1.09 per share from $75.4 million or $0.63 per share last year.

Looking ahead to the second quarter, the company has forecast FFO in a range of $1.62 to $1.66 per and earnings in the range of $1.46 per share to $1.50 per share. Analysts currently expect second-quarter FFO of $1.69 per share.