AvalonBay Communities, Inc. (AVB)

Sector: Real Estate|Industry: REIT - Residential|Market Cap: $31.23B|Employees: 3K


AvalonBay Communities, Inc. is a real estate investment trust (REIT) that develops, redevelops, acquires, owns, and operates multifamily apartment communities. The company focuses on leading metropolitan areas with strong employment and higher cost of home ownership. AvalonBay's portfolio includes a mix of upscale, value-oriented, and moderate-price point apartment communities across New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as expansion regions in the Southeast, Texas, and Colorado.

  1. Filings

Filing Highlights

Financial Performance

Net income attributable to common stockholders decreased to $253.9 million, a $113.9 million decrease, primarily due to decreases in real estate sales and related gains, partially offset by an increase in NOI from communities.

Same Store NOI attributable to apartment rental operations increased to $462.1 million, a 3.0% increase, driven by a $20.6 million increase in Residential revenue, partially offset by a $7.4 million increase in Residential property operating expenses.

Rental and other income increased to $724.2 million, a $36.1 million increase, primarily due to the increased rental revenue from Same Store communities.

Growth & Strategy

Management Execution

Risk Factors

Competitive Position

Operational Efficiency

Innovation & Technology

Capital Allocation

ESG initiatives

Market Environment