AvalonBay Communities, Inc. (AVB) has reported a 0.86 percent fall in profit for the quarter ended Mar. 31, 2017. The company has earned $235.88 million, or $1.72 a share in the quarter, compared with $237.93 million, or $1.73 a share for the same period last year.
Revenue during the quarter went up marginally by 2.72 percent to $522.33 million from $508.50 million in the previous year period.
For the second-quarter, AvalonBay Communities, Inc. projects diluted earnings per share to be in the range of $1.50 to $1.56.
Revenue from real estate activities during the quarter went up marginally by 2.72 percent or $13.83 million to $522.33 million.
Income from operating leases during the quarter went up marginally by 2.79 percent or $14.15 million to $521.13 million.
Income from management fees during the quarter dropped 21.26 percent or $0.32 million to $1.20 million.
Total assets stood at $17,978.42million as on Mar. 31, 2017. On the other hand, total liabilities were at $7,703.02 million as on Mar. 31, 2017.
Return on assets was at 1.59 percent in the quarter. At the same time, return on equity was at 2.30 percent in the quarter.
Total debt was at $7,005.73 million as on Mar. 31, 2017. Shareholders equity was at $10,266.62 million as on Mar. 31, 2017. Meanwhile, debt to equity ratio was at 0.68 percent in the quarter.
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