AvalonBay Communities Sees FFO Rise

AvalonBay Communities (NYSE: AVB) announced its results for the second quarter on July 27, 2011. Let's take a closer look at the company's industry, financials, and commentary and see what steps you can take next.

Earnings and Revenue:
AvalonBay Communities' funds from operations (FFO) rose 8.7% from the year earlier quarter to $1.13. The company topped estimates of $1.12 per share. FFO is a performance measure of real estate investment trusts (REIT).

Income:
For the year, AvalonBay Communities reported net income of $4.20 per share. The company trumped analyst projections of $4.17 by 0.7%. According to the reported number, the company's income fell 15.2% from last year's levels.

Official Comment:
Commenting on the Company's results, Bryce Blair, Chairman and CEO, said, "Our second quarter results reflect the underlying strength in rental housing fundamentals despite modest economic growth. Continued improvement in our operating portfolio and an increase in development deliveries during the second half of this year support our outlook for strong growth in FFO in 2011 over the prior year."

Industry:
AvalonBay Communities is in the REIT-equity trust/residential industry. That industry is currently enjoying price/earnings growth of 2.9%. The company's EPS trumps the industry average by 40.8%.

What to Do Next:
Now you're all set to decide what to do with those AvalonBay Communities shares until the next earnings announcement. Whether you buy, sell or hold, check back with before the company's next earnings release for a full preview.

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