AvalonBay Communities beats FFO estimates on higher rental revenue
In this article:
Oct 25 (Reuters) - Residential real estate investment trust (REIT) AvalonBay Communities on Wednesday beat expectations for quarterly funds from operations due to steady growth in rental revenue.
Residential rental revenue rose to $635.32 million in the reported quarter from $603.96 million a year earlier.
AvalonBay posted a core FFO of $2.66 per share in the third quarter, compared with analysts' estimates of $2.62 per share, as per LSEG data. (Reporting by Mehr Bedi in Bengaluru; Editing by Anil D'Silva)
