More on AvalonBay results

|About: AvalonBay Communities, Inc. (AVB)|By:, SA News Editor

Adjusted FFO per share of $1.70 up 4.9% from a year ago.

Established Communities now includes the assets acquired as part of the Archstone purchase, and average rental rates increased 3.2% Y/Y, partially offset by a 10 basis point drop in occupancy. NOI for established communities of $230M gained 2.8%. Rental rate increases were particularly strong in the Pacific Northwest and Northern California.

Q3 adjusted FFO per share expected at $1.69-$1.75, and full-year adjusted FFO per share at $6.73-$6.87.

Previously: AvalonBay Communities beats by $0.03, beats on revenue

AVB no trades AH