Investing.com - AvalonBay reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
AvalonBay announced earnings per share of $1.87 on revenue of $540.39M. Analysts polled by Investing.com anticipated EPS of $1.34 on revenue of $612.09M.
AvalonBay shares are up 52% from the beginning of the year and are trading at $240.78 , down-from-52-week-high.They are outperforming the STOXX 600 which is down 8.92% from the start of the year.
AvalonBay follows other major Real Estate sector earnings this month
AvalonBay's report follows an earnings beat by Prologis on Tuesday, April 19, 2022, who reported EPS of $1.54 on revenue of $1.08B, compared to forecasts EPS of $0.6806 on revenue of $1.08B.
American Tower had beat expectations on Wednesday with first quarter EPS of $1.56 on revenue of $2.6B, compared to forecast for EPS of $1.11 on revenue of $2.6B.
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