Investing.com - AvalonBay (NYSE:AVB) reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
AvalonBay announced earnings per share of $3.21 on revenue of $498.8M. Analysts polled by Investing.com anticipated EPS of $0.7372 on revenue of $550.09M.
AvalonBay shares are down 2% from the beginning of the year, still down 1.37% from its 52 week high of $230.60 set on July 21. They are under-performing the Nasdaq which is up 14.54% from the start of the year.
AvalonBay shares gained 0.02% in after-hours trade following the report.
AvalonBay follows other major Real Estate sector earnings this month
AvalonBay's report follows an earnings beat by Prologis on July 19, who reported EPS of $0.81 on revenue of $1.01B, compared to forecasts EPS of $0.4287 on revenue of $1.01B.
Equinix had missed expectations on Wednesday with second quarter EPS of $0.76 on revenue of $1.66B, compared to forecast for EPS of $1.87 on revenue of $1.64B.
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