AvalonBay Communities, Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter of 2018; Provides Earnings Guidance for the Year 2018
For the year, the company reported net income attributable to common stockholders of $876,921,000 against $1,034,002,000 a year ago. FFO attributable to common stockholders was $1,167,218,000 against $1,135,762,000 a year ago. Core FFO attributable to common stockholders was $1,189,976,000 against $1,125,341,000 a year ago. Earnings per share diluted were $6.35 against $7.52 per share a year ago. FFO per common share diluted was $8.45 against $8.26 per share a year ago. Core FFO per common share diluted was $8.62 against $8.19 per share a year ago. NOI was $1,490,068,000 against $1,383,943,000 a year ago. Rental revenue was $1,574,395,000 against $1,535,747,000 a year ago.
For first quarter of 2018, the company expects EPS of $0.99 to $1.05 per share. Projected FFO per share of $2.13 to $2.19 per share. Projected Core FFO per share of $2.14 to $2.20 per share.
For the year 2018, the company expects EPS of $5.83 to $6.23 per share. Projected FFO per share of $8.67 to $9.07 per share. Projected Core FFO per share of $8.73 to $9.13 per share.