AvalonBay Communities (AVB) came out with quarterly funds from operations (FFO) of $2.66 per share, beating the Zacks Consensus Estimate of $2.60 per share. This compares to FFO of $2.43 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 2.31%. A quarter ago, it was expected that this apartment building owner would post FFO of $2.54 per share when it actually produced FFO of $2.57, delivering a surprise of 1.18%. Over the last four quarters, the company has surpassed consensus FFO estimates three times. AvalonBay, which belongs to the Zacks REIT and Equity Trust - Residential industry, posted revenues of $690.86 million for the quarter ended June 2023, surpassing the Zacks Consensus Estimate by 2.25%. This compares to year-ago revenues of $644.56 million. The company has topped consensus revenue estimates two times over the last four quarters.