AVB: Q4 Earnings Exceed Expectations, Shares Slightly Down

[Para 1: The Lead] AvalonBay Communities Inc. (AVB) reported exceeding Wall Street expectations in its Q4 earnings, highlighting robust funds from operations (FFO) of $2.85 per share. The results were $0.01 above analyst forecasts, showcasing resilience in the real estate sector. [Para 2-3: Supporting details & Context] In the quarter, AvalonBay posted FFO of $404.1 million, surpassing the $2.84 per share estimate. The company's net income was $1.17 per share, and revenue of $767.9 million fell slightly short of analyst projections. For the year, FFO was $11.24 per share, and revenue stood at $3.04 billion. Despite the strong Q4 performance, AvalonBay's shares have declined 19% over the past year, contrasting with the S&P 500's 0.5% gain. As of the publication time, shares were trading at $177.81.