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AvalonBay's First-quarter Results Edge Up

Stock quotes in this article: AVB  

ALEXANDRIA, Va. (AP) — AvalonBay Communities Inc., a real-estate investment trust focusing on upscale areas, said Wednesday its first-quarter funds from operations rose slightly and beat Wall Street expectations.

During the quarter, funds from operations attributable to common stockholders was $100.98 million, or $1.27 per share, up 5.1 percent from $96.1 million, or $1.24 a share, a year earlier.

On average, analysts polled by Thomson One were expecting quarterly funds from operations of $1.20 per share. ...

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