Investing.com - AvalonBay (NYSE:AVB) reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
AvalonBay announced earnings per share of $3.53 on revenue of $574.78M. Analysts polled by Investing.com anticipated EPS of $1.27 on revenue of $663.69M.
AvalonBay shares are down 12% from the beginning of the year, still down 34.34% from its 52 week high of $259.05 set on March 29.
AvalonBay shares lost 0.94% 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 October 19, who reported EPS of $1.36 on revenue of $1.75B, compared to forecasts EPS of $1.34 on revenue of $1.2B.
American Tower had beat expectations on October 27 with third quarter EPS of $1.8 on revenue of $2.67B, compared to forecast for EPS of $1.13 on revenue of $2.65B.
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