AvalonBay Q2 2024 EPS down 31.3% YoY, Core FFO up 4.1%; raises FY outlook

AVALONBAY COMMUNITIES INC

2024-Q2 EPS reported $3.00 revenue$1,438,900,000

GAAP EPS $1.78 vs $2.59 Q2 2023, a 31.3% decline driven by lower real estate gains.
Core FFO per share $2.77 vs $2.66, up 4.1% YoY; YTD Core FFO $5.47 vs $5.23, up 4.6%.
Company raised full year 2024 outlook for EPS, FFO, and Core FFO.
Same Store Residential NOI contributed $0.09 per share increase vs Q2 2023.

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