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AvalonBay's Q3 earnings missed projections due to soft apartment demand, mainly attributed to reduced job growth and macroeconomic uncertainty. CEO Ben Schall attributed the underperformance to lower revenue and higher operating expenses. The company revised its full-year 2025 FFO outlook down by 1.2% but expressed confidence in its well-positioned portfolio and $3 billion in projects under construction set to create value in 2026 and 2027.

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