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AvalonBay Q1 FFO Rises, Beating View (AVB)

Apartment REIT AvalonBay Communities, Inc. ( AVB ) late Wednesday said its first quarter funds from operations (FFO) rose 18% from last year, beating analyst estimates.

The Arlington, VA-based company reported first quarter FFO of $93.5 million, or $1.08 per share, compared with $79.3 million, or 96 cents per share, in the year-ago period.

On average, Wall Street analysts expected a smaller FFO of $1.05 per share.

Looking ahead, the company forecast second quarter FFO to range from $1.06 to $1.10 per share, which would miss analyst estimates of $1.14 per share. For the full year, AVB said it expects earnings at the high-end of its previously-announced range of $4.50 to $4.75 per share. Analysts expect $4.64 per share for the year.

Analysts expected $1.14 per share for the quarter and $4.64 for the year.

AvalonBay shares were mostly flat in premarket trading Thursday.

The Bottom Line

We have been recommending shares of AvalonBay ( AVB ) since Nov.30, 2010, when the stock was trading at $110.12. The company has a 2.82% dividend yield, based on last night's closing stock price of $126.63.

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 Nasdaq, Inc.

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

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