AvalonBay Communities (AVB) Up 15.4% YTD: Will It Rise Further?

Shares of AvalonBay Communities (AVB) have rallied 15.4% year to date compared with the industry's upside of 9.8%.Last month, AvalonBay reported a second-quarter 2024 core funds from operation (FFO) per share of $2.77, which beat the Zacks Consensus Estimate of $2.71.The quarterly results reflected a year-over-year increase in both same-store total revenues and average rental revenue per occupied home.This residential REIT also raised its guidance for 2024 core FFO per share, same-store residential revenues ...