AvalonBay Communities Q4 FFO Rises

(RTTNews) - AvalonBay Communities, Inc. (AVB) Wednesday reported fourth-quarter net income of $242.0 million or $1.70 per share, compared to $241.3 million or $1.72 per share last year.

Fourth-quarter funds from operations for the quarter was $374.2 million or $2.63 per share, compared to $359.1 million or $2.57 per share last year.

Fourth-quarter core funds from operations for the quarter was $389.7 million or $2.74 per share, compared to $363.1 million or $2.59 per share last year.

Looking forward to the first quarter, the company expects EPS of $1.06 to $1.16 per share, FFO per share of $2.54 to $2.64 and Core FFO per share of $2.56 to $2.66.

For the full year 2024, the company expects EPS of $6.27 to $6.77 per share, FFO per share of $10.42 to $10.92 and Core FFO per share of $10.53 to $11.03.