Investing.com - AvalonBay (NYSE:AVB) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
AvalonBay announced earnings per share of $2.4 on revenue of $601.2M. Analysts polled by Investing.com anticipated EPS of $0.9983 on revenue of $597.94M.
AvalonBay shares are down 0% from the beginning of the year, still down 2.29% from its 52 week high of $257.52 set on January 4. They are outperforming the S&P 500 which is down 3.71% from the start of the year.
AvalonBay shares gained 0.16% 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 January 19, who reported EPS of $1.67 on revenue of $1.07B, compared to forecasts EPS of $0.7055 on revenue of $1.07B.
Crown Castle had beat expectations on January 26 with fourth quarter EPS of $0.81 on revenue of $1.65B, compared to forecast for EPS of $0.7708 on revenue of $1.63B.
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