AvalonBay Communities Q2 adjusted earnings Beat Estimates

(RTTNews) - AvalonBay Communities (AVB) announced earnings for its second quarter that climbed from the same period last year.

The company's earnings came in at $447.95 million, or $3.21 per share. This compares with $170.83 million, or $1.21 per share, in last year's second quarter.

Excluding items, AvalonBay Communities reported adjusted earnings of $276.95 million or $1.98 per share for the period.

Analysts had expected the company to earn $0.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

AvalonBay Communities earnings at a glance:

-Earnings (Q2): $276.95 Mln. vs. $313.26 Mln. last year. -EPS (Q2): $1.98 vs. $2.23 last year. -Analysts Estimate: $0.66

-Guidance: Next quarter EPS guidance: $0.48 - $0.58 Full year EPS guidance: $6.67 - $6.87