AvalonBay Communities (AVB) Q3 FFO and Revenues Top Estimates

分组1 - AvalonBay Communities (AVB) reported quarterly funds from operations (FFO) of $2.74 per share, exceeding the Zacks Consensus Estimate of $2.71 per share, and up from $2.66 per share a year ago, representing an FFO surprise of 1.11% [1] - The company achieved revenues of $734.31 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 0.36% and increasing from $697.64 million year-over-year [2] - AvalonBay has consistently surpassed consensus FFO and revenue estimates over the last four quarters [2] 分组2 - The stock has gained approximately 15.5% since the beginning of the year, while the S&P 500 has increased by 20.1% [3] - The company's FFO outlook is crucial for investors, as it includes current consensus expectations for upcoming quarters and any recent changes to those expectations [4] - The current consensus FFO estimate for the next quarter is $2.83 on revenues of $740.22 million, and for the current fiscal year, it is $11.02 on revenues of $2.91 billion [7] 分组3 - The Zacks Industry Rank places the REIT and Equity Trust - Residential sector in the top 39% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - Empirical research shows a strong correlation between near-term stock movements and trends in estimate revisions, which can be tracked by investors [5] - The estimate revisions trend for AvalonBay is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6]