(RTTNews) - AvalonBay Communities, Inc. (AVB) Monday reported first-quarter net income of $325.7 million or $2.33 per share, compared to $236.6 million or $1.66 per share last year.
Funds from operations for the quarter were $383.6 million or $2.72, compared to $396.8 million or $2.78 per share last year.
Core funds from operations for the quarter were $398.7 million or $2.83 per share, compared to $403.3 million or $2.83 per share last year.
Looking forward to the second quarter, the company expects earnings per share of $1.23 to $1.33, funds from operations of $2.68 to $2.78 per share and core funds from operations of $2.72 to $2.82 per share.
The company affirms its February 2026 full year outlook for FFO and Core FFO. The company now expects full year EPS to be in the range of $5.92 to $6.42.
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