AvalonBay (AVB) Q1 FFO & Revenues Beat Estimates, View Raised

AvalonBay Communities (AVB) reported a first-quarter 2024 core FFO per share of $2.70, which beat the Zacks Consensus Estimate of $2.64. Moreover, the figure climbed 5.1% from the prior-year quarter’s tally.The quarterly results reflect better-than-expected performance in the stabilized portfolio. This residential REIT also raised its 2024 core FFO per share, same-store residential revenue and net operating income (NOI) growth outlook following the Q1 FFO beat.Total revenues in the quarter came in at $712.9 ...