AvalonBay Q2 Core FFO $2.43 beat, up 22.7% YoY; EPS $0.99 on lower gains

AVALONBAY COMMUNITIES INC

2022-Q2 EPS reported $2.86 revenue$1,258,486,000

Q2 net income $138.7M; EPS $0.99 vs $3.21, down 69.2% largely on lower gain on sale.
FFO per share $2.41 (+22.3% YoY); Core FFO $2.43 (+22.7% YoY), exceeding April outlook midpoints.
Same Store Residential NOI contributed $0.41 per share on $0.46 revenue increase.
Six-month 2022 EPS $2.86 (-32.4% YoY), FFO $4.65 (+18.9%), Core FFO $4.69 (+19.3%).

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