AvalonBay Q3 Core FFO per share up 6.4% YoY to $2.66; GAAP EPS declines 65.7% to $1.21

AVALONBAY COMMUNITIES INC

2023-Q3 EPS reported $4.86 revenue$2,063,204,000

Q3 2023 Core FFO per share rose 6.4% YoY to $2.66; FFO per share $2.48 (+0.8%).
GAAP EPS fell 65.7% to $1.21 vs $3.53 a year ago, primarily due to lower real estate gains and depreciation.
Same Store Residential NOI contributed $0.15 per share YoY improvement, driven by $0.22 revenue growth and $0.07 expense growth.
YTD 2023 Core FFO per share $7.89 (+9.7% YoY); FFO per share $7.69 (+8.2%).

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