AvalonBay Communities Q4 Profit Decreases, but beats estimates

(RTTNews) - AvalonBay Communities (AVB) reported earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $335.21 million, or $2.40 per share. This compares with $341.13 million, or $2.44 per share, in last year's fourth quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $317.55 million or $2.27 per share for the period.

Analysts on average had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance (GAAP) :

-Earnings (Q4): $335.21 Mln. vs. $341.13 Mln. last year. -EPS (Q4): $2.40 vs. $2.44 last year. -Analyst Estimates: $1.00

-Guidance: Next quarter EPS guidance: $2.14 - $2.26