AvalonBay’s 2017 Results Are In Line With Our Expectations; Maintaining FVE
Nothing in no-moat AvalonBay's results alters our long-term view of the firm. For the fourth quarter of 2017, core funds from operations per share increased 6.1% to $2.25 from $2.12 from the prior-year period, closely approximating management's October 2017 outlook. For the year, this translated to core FFO per share of $8.62 from $8.19 per share, an increase of 5.3% and in line with our 2017 projections. As for full-year rental revenue in AvalonBay’s individual markets, they ranged from a low o...AvalonBay Communities is a real estate investment trust. The company develops, redevelops, acquires, owns and operates multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California. The company owns or holds a direct or indirect ownership interest in: operating apartment communities containing apartment homes in various states and the District of Columbia; communities under development; and rights to develop an additional communities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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