July 31 (Reuters) - AvalonBay Communities ( AVB ) raised

its forecast for full-year 2024 funds from operations (FFO) per

share on Wednesday, as it expects to continue benefiting from

limited supply of rental apartments in suburban coastal markets

in the U.S., relative to demand.

The real estate investment trust now expects full-year FFO,

a key profitability metric watched closely by investors, to be

in the range of $10.84 to $11.04 per share, compared to its

prior forecast range of $10.63 to $11.03 per share.

AvalonBay's portfolio, which includes properties in states

such as New England and Florida, and metro areas like New York

and Washington, D.C., remains relatively insulated from heavy

rental supply elsewhere in the U.S., resulting in steady rent

growth as demand remains robust.

The REIT reported fourth-quarter FFO per share at $2.75,

slightly above analysts' estimate of $2.71 per share, according

to LSEG data.

Same-store rental revenue grew 3.2% to about $673 million in

the quarter ended June 30.