AvalonBay Q4 FFO Matches View; 2011 Forecast Beats (AVB)

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Multifamily housing REIT AvalonBay Communities, Inc. ( AVB ) late Wednesday said its fourth quarter funds from operations, or FFO, surged 65% from last year, matching analyst expectations, and its 2011 forecast beat Wall Street's view.

The Arlington, VA-based company reported fourth quarter FFO of $86.8 million, or $1.01 per share, compared with $52.7 million, or 64 cents per share, in the year-ago period. Those results matched the average Wall Street analyst FFO estimate.

REITs like ABV measure their earnings performance with FFO because it removes the effects of real estate depreciation.

Looking ahead, the company forecast full-year 2011 FFO to range from $4.50 to $4.75 per share, which would beat analysts' current estimate of $4.45 per share.

AvalonBay shares were mostly flat in premarket trading Thursday.

The Bottom Line
We have been recommending shares of AvalonBay Communities ( AVB ) since Nov.30, 2010, when the stock was trading at $110.12. The company has a 3.11% dividend yield, based on last night's closing stock price of $114.65.

AvalonBay Communities, Inc. ( AVB ) is a "Recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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