AvalonBay Q1 2022 EPS $1.87, FFO $2.24, Core FFO $2.26; revenue up 8.7% YoY

AVALONBAY COMMUNITIES INC

2022-Q1 EPS reported $1.87 revenue$613,927,000

Net income $262M; diluted EPS $1.87 vs $1.02 YoY, up 83.3%.
Core FFO per share $2.26 vs $1.95 YoY, up 15.9%.
Same Store total revenue $546.8M, +8.7%; residential rental revenue +8.5%.
Results exceeded Feb. 2022 outlook (projected Core FFO $2.20, actual $2.26).

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