AvalonBay Communities Q4 adjusted earnings Beat Estimates

(RTTNews) - AvalonBay Communities (AVB) announced a profit for its fourth quarter that increased from last year.

The company's earnings came in at $385.64 million, or $2.79 per share. This compares with $237.49 million, or $1.72 per share, in last year's fourth quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $319.52 million or $2.31 per share for the period.

Analysts had expected the company to earn $1.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance:

-Earnings (Q4): $319.52 Mln. vs. $310.88 Mln. last year. -EPS (Q4): $2.31 vs. $2.25 last year. -Analysts Estimate: $1.14