AvalonBay (AVB) Projects Higher Q1 Rental Revenues, Stock Up
AVBAvalonBay Communities(AVB) Zacks Investment Research·2024-03-06 02:01

Shares of AvalonBay Communities (AVB) were up 3.95% during Monday’s regular trading session after this residential REIT’s last Friday’s announcement of a projected outperformance of its first-quarter same-store residential revenue growth on better-than-expected occupancy and lower-than-expected uncollectible lease revenues. Specifically, AvalonBay now expects its same-store residential revenues for the first quarter to increase 3.7%-3.8% over the prior-year period. This range at the midpoint is roughly 45 b ...