Avalonbay Communities (NYSE: AVB) reported Q1 EPS of $1.72, $0.63 better than the analyst estimate of $1.09. Revenue for the quarter came in at $0 versus the consensus estimate of $521.16 million.

GUIDANCE:

Avalonbay Communities sees Q2 2017 EPS of $1.50-$1.56, versus the consensus of $1.13.

In its full year 2017 outlook for EPS published in its earnings release dated February 1, 2017, the Company contemplated gains on sale from the disposition of operating communities of $2.02 per share for the year. Due to a change in the composition of the Company’s disposition plan, the Company now contemplates gains on sale from the disposition of operating communities of $1.80 per share. Gains on sale of operating communities impact earnings per share but do not impact FFO share or Core FFO share. The impairment charge of $0.08 per share in the first quarter of 2017 as reported in this release was not contemplated in the Company's February 2017 outlook and will impact EPS and FFO share but not Core FFO share for 2017.

For earnings history and earnings-related data on Avalonbay Communities (AVB) click here.