AvalonBay FFO forecast feels the squeeze as some rental markets remain tepid

Reuters04-26

April 25 (Reuters) - AvalonBay Communities forecast full-year funds from operations (FFO) marginally below Wall Street estimates on Thursday, as weakness in rental markets in Northern California offset strong performance in its suburban coastal markets.

The company expects full-year FFO, an important metric watched for real estate investment trusts (REITs), to be in the range of $10.63 to $11.03 per share. Analysts on average were expecting $10.86 per share, according to LSEG data.

AvalonBay's portfolio, which includes properties in cities such as Seattle and San Francisco, has seen some rental weakness due to flailing demand and strong supply. This offset steady rental growth in markets such as suburban New York, Southeast Florida and Washington D.C.

For the second quarter, the company expects projected FFO to be in the range of $2.59 to $2.69 per share. Analysts on average were anticipating $2.70 per share.

However, first quarter FFO per share of $2.73 beat estimates of $2.65.

Same-store rental revenue grew 4.3% in the quarter ended March from a year earlier.

(Reporting by Rupali Chaudhary and Ananta Agarwal in Bengaluru; Editing by Sriraj Kalluvila)

((Rupali.Chaudhary@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2430265387?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-04-26 06:47","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2430265387","market":"us","top_or_hot":-1,"title":"AvalonBay FFO forecast feels the squeeze as some rental markets remain tepid","media":"Reuters","content":"<html><body><p>April 25 (Reuters) - AvalonBay Communities    forecast full-year funds from operations (FFO) marginally below Wall Street estimates on Thursday, as weakness in rental markets in Northern California offset strong performance in its suburban coastal markets. </p><p>   The company expects full-year FFO, an important metric watched for real estate investment trusts (REITs), to be in the range of $10.63 to $11.03 per share. Analysts on average were expecting $10.86 per share, according to LSEG data.</p><p>   AvalonBay's portfolio, which includes properties in cities such as Seattle and San Francisco, has seen some rental weakness due to flailing demand and strong supply. This offset steady rental growth in markets such as suburban New York, Southeast Florida and Washington D.C.</p><p>   For the second quarter, the company expects projected FFO to be in the range of $2.59 to $2.69 per share. Analysts on average were anticipating $2.70 per share. </p><p>   However, first quarter FFO per share of $2.73 beat estimates of $2.65. </p><p>   Same-store rental revenue grew 4.3% in the quarter ended March from a year earlier. </p><p> (Reporting by Rupali Chaudhary and Ananta Agarwal in Bengaluru; Editing by Sriraj Kalluvila)</p><p>((Rupali.Chaudhary@thomsonreuters.com;))</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AvalonBay FFO forecast feels the squeeze as some rental markets remain tepid</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAvalonBay FFO forecast feels the squeeze as some rental markets remain tepid\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-04-26 06:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>April 25 (Reuters) - AvalonBay Communities    forecast full-year funds from operations (FFO) marginally below Wall Street estimates on Thursday, as weakness in rental markets in Northern California ...</p>\n\n<a href=\"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"AVB","symbol_name":"阿湾物产","start_time":0,"source_url":"https://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","article_id":"2430265387","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2430265387","pubTimestamp":1714085238,"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"April 25  - AvalonBay Communities    forecast full-year funds from operations  marginally below Wall Street estimates on Thursday, as weakness in rental markets in Northern California offset strong performance in its suburban coastal markets.    The company expects full-year FFO, an important metric watched for real estate investment trusts , to be in the range of $10.63 to $11.03 per share. Analysts on average were expecting $10.86 per share, according to LSEG data.   AvalonBay's portfolio, which includes properties in cities such as Seattle and San Francisco, has seen some rental weakness due to flailing demand and strong supply. This offset steady rental growth in markets such as suburban New York, Southeast Florida and Washington D.C.   For the second quarter, the company expects projected FFO to be in the range of $2.59 to $2.69 per share. Analysts on average were anticipating $2.70 per share.    However, first quarter FFO per share of $2.73 beat estimates of $2.65.    Same-store ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"AVB":"阿湾物产","BK4585":"ETF&股票定投概念","BK4588":"碎股","BK4215":"住宅房地产投资信托"},"translate_title":"AvalonBay FFO预测感受到压力，因为一些租赁市场仍然不温不火","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AVB":0.9},"content_text":"April 25 (Reuters) - AvalonBay Communities    forecast full-year funds from operations (FFO) marginally below Wall Street estimates on Thursday, as weakness in rental markets in Northern California offset strong performance in its suburban coastal markets.    The company expects full-year FFO, an important metric watched for real estate investment trusts (REITs), to be in the range of $10.63 to $11.03 per share. Analysts on average were expecting $10.86 per share, according to LSEG data.   AvalonBay's portfolio, which includes properties in cities such as Seattle and San Francisco, has seen some rental weakness due to flailing demand and strong supply. This offset steady rental growth in markets such as suburban New York, Southeast Florida and Washington D.C.   For the second quarter, the company expects projected FFO to be in the range of $2.59 to $2.69 per share. Analysts on average were anticipating $2.70 per share.    However, first quarter FFO per share of $2.73 beat estimates of $2.65.    Same-store rental revenue grew 4.3% in the quarter ended March from a year earlier.  (Reporting by Rupali Chaudhary and Ananta Agarwal in Bengaluru; Editing by Sriraj Kalluvila)((Rupali.Chaudhary@thomsonreuters.com;))","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430265387"}