AvalonBay Communities Q2 adjusted earnings Beat Estimates

(RTTNews) - AvalonBay Communities (AVB) revealed earnings for its second quarter that climbed from the same period last year.

The company's earnings totaled $254.66 million, or $1.84 per share. This compares with $165.22 million, or $1.20 per share, in last year's second quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $307.62 million or $2.23 per share for the period.

Analysts had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance:

-Earnings (Q2): $307.62 Mln. vs. $288.39 Mln. last year. -EPS (Q2): $2.23 vs. $2.09 last year. -Analysts Estimate: $1.06

-Guidance: Next quarter EPS guidance: $2.22 - $2.28 Full year EPS guidance: $8.87 - $9.07