Avalonbay Communities Q2 FFO Rises, Lifts FY13 Outlook - Quick Facts

(RTTNews) - Avalonbay Communities Inc. (AVB) Wednesday reported second-quarter funds from operations, or FFO, of $200.57 million or $1.55 per share, up from $128.19 million or $1.34 per share in the same period last year.

On average, 17 analysts polled by Thomson Reuters expected the company to earn $1.52 per share for the quarter. Analysts' estimates typically exclude special items.

Earnings for the quarter declined to $36.22 million or $0.28 per share from $156.91 million or $1.63 per share last year.

Looking ahead to the third quarter, the company has forecast FFO in a range of $1.13 to $1.19 per share. Analysts currently expect FFO of $1.48 per share for the third quarter. Earnings are projected in the range of $0.36 to $0.42 per share.

For the fiscal 2013, the company currently projects FFO in a a range of $5.05 to $5.25 per share, up from its previous guidance range of $4.98 to $5.28 per share. Analysts currently expect full-year FFO of $5.21 per share.

Earnings guidance has been raised to $2.57 to $2.77 per share from $1.37 to $1.67 per share issued previously.