AvalonBay Communities Q3 adjusted earnings Beat Estimates

(RTTNews) - AvalonBay Communities (AVB) released earnings for third quarter that decreased from the same period last year.

The company's earnings came in at $192.49 million, or $1.39 per share. This compares with $238.25 million, or $1.72 per share, in last year's third quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $315.35 million or $2.28 per share for the period.

Analysts had expected the company to earn $1.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance:

-Earnings (Q3): $315.35 Mln. vs. $303.33 Mln. last year. -EPS (Q3): $2.28 vs. $2.19 last year. -Analysts Estimate: $1.13

-Guidance: Next quarter EPS guidance: $2.27 - $2.35 Full year EPS guidance: $8.96