AvalonBay (AVB) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - AvalonBay Communities (AVB) reported revenue of $734.31 million for Q3 2024, marking a year-over-year increase of 5.3$2.74, compared to $1.21 a year ago, representing a surprise of 1.11$2.71 [1] Financial Performance Metrics - Same Store Economic Occupancy was reported at 95.6%, slightly below the estimated 95.9% [3] - Revenue from rental and other income was $732.59 million, surpassing the estimated$731.25 million, with a year-over-year change of 5.3% [3] - Revenue from management, development, and other fees was $1.72 million, below the estimated$1.85 million, reflecting a year-over-year decline of 11.3% [3] - Net Earnings Per Share (Diluted) was reported at $2.61, significantly higher than the average estimate of$1.72 [3] Stock Performance - Over the past month, AvalonBay shares have returned -2.1%, contrasting with the Zacks S&P 500 composite's increase of 0.4% [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [4]