AvalonBay (AVB) Q4 FFO Beats Estimates, Dividend Raised

AvalonBay Communities (AVB) reported a fourth-quarter 2023 core funds from operations (FFO) per share of $2.74, beating the Zacks Consensus Estimate of $2.73. Moreover, the figure climbed 5.8% from the prior-year quarter’s tally.The quarterly results reflect a year-over-year increase in same-store residential rental revenues. The same-store average rental revenue per occupied home reported a rise, though occupancy declined.Total revenues in the quarter came in at $704.7 million, outpacing the Zacks Consensu ...