AvalonBay Communities, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net income attributable to common stockholders of $237,573,000 against $242,235,000 a year ago. FFO attributable to common stockholders was $301,208,000 against $288,080,000 a year ago. Core FFO attributable to common stockholders was $310,881,000 against $291,144,000 a year ago. Earnings per share diluted were $1.72 against $1.76 per share a year ago. FFO per common share diluted was $2.18 against $2.09 per share a year ago. Core FFO per common share diluted was $2.25 against $2.12 per share a year ago. EBITDA was $448,545,000. Core EBITDA was $362,197,000. NOI was $390,700,000 against $357,041,000 a year ago. Rental revenue was $396,735,000 against $388,245,000 a year ago. Net debt was $7,202,407,000.

For the year, the company reported net income attributable to common stockholders of $876,921,000 against $1,034,002,000 a year ago. FFO attributable to common stockholders was $1,167,218,000 against $1,135,762,000 a year ago. Core FFO attributable to common stockholders was $1,189,976,000 against $1,125,341,000 a year ago. Earnings per share diluted were $6.35 against $7.52 per share a year ago. FFO per common share diluted was $8.45 against $8.26 per share a year ago. Core FFO per common share diluted was $8.62 against $8.19 per share a year ago. NOI was $1,490,068,000 against $1,383,943,000 a year ago. Rental revenue was $1,574,395,000 against $1,535,747,000 a year ago.

For first quarter of 2018, the company expects EPS of $0.99 to $1.05 per share. Projected FFO per share of $2.13 to $2.19 per share. Projected Core FFO per share of $2.14 to $2.20 per share.

For the year 2018, the company expects EPS of $5.83 to $6.23 per share. Projected FFO per share of $8.67 to $9.07 per share. Projected Core FFO per share of $8.73 to $9.13 per share.