AvalonBay Communities Updates Earnings Outlook - Quick Facts

(RTTNews) - AvalonBay Communities, Inc. (AVB) announced, for 2017, the company now expects earnings per share in a range of $6.20 to $6.26, revised from prior guidance range of $6.24 to $6.44. Core FFO per share is now targeted in the range of $8.58 to $8.64, up from prior guidance range of $8.50 to $8.70.

Third-quarter earnings per share was up 33.6% to $1.72 from $2.59, prior year. Core FFO per share increased 5.8% to $2.19 from $2.07. For the company, total revenue increased by 6.6%, to $550.5 million. The company said the increase is primarily due to growth in revenue from development communities and stabilized operating communities.