AvalonBay Communities Q4 Profit Up

(RTTNews) - AvalonBay Communities (AVB) Monday said its profit for fourth quarter increased from last year.

The company's earnings came in $385.64 million or $2.79 per share, compared with last year's $237.49 million or $1.72 per share.

Core FFO per share was $2.31 per share for the period, same as last year.

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

Moving ahead, AvalonBay Communities expects full year 2019 earnings of $5.18 to $5.68 per share and core FFO per share of $9.05 to $9.55 per share. Analysts currently estimate earnings of $4.83 per share for 2019.