The apartment building owner posted revenue of $593.6 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $594.1 million.
For the year, the company reported funds from operations of $1.3 billion, or $9.34 per share. Revenue was reported as $2.32 billion.
AvalonBay expects full-year funds from operations in the range of $9.62 to $10.02 per share.
The company’s shares have risen almost 4% since the beginning of the year, while the Standard & Poor’s 500 index has increased 3%. In the final minutes of trading on Wednesday, shares hit $217.56, an increase of 12% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AVB at https://www.zacks.com/ap/AVB