The company said it had net income of $341.1 million, or $2.44 per share.
The apartment building owner posted revenue of $555.8 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $556.6 million.
For the year, the company reported funds from operations of $1.22 billion, or $8.69 per share. Revenue was reported as $2.3 billion.
For the current quarter ending in April, AvalonBay expects its per-share funds from operations to range from $1.85 to $1.95. Analysts surveyed by Zacks had forecast adjusted FFO per share of $2.09.
The company’s shares have risen almost 5% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 2%. In the final minutes of trading on Wednesday, shares hit $167.79, a fall of 23% 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