Avalonbay Cmntys Inc Stock Price, News & Analysis

AvalonBay Communities, Inc. (NYSE: AVB) has been awarded the 2021 Leader in the Light Award by the National Association of Real Estate Investment Trusts (Nareit) for its excellence in environmental, social, and governance (ESG) practices, a title it previously held in 2020, 2019, 2015, 2013, and 2012. The award is based on the Global Real Estate Sustainability Benchmark (GRESB) Annual Survey and recognizes REITs that excel in institutionalizing ESG within their operations. As of September 30, 2021, AvalonBay owned or held interests in 293 apartment communities with 87,416 homes.

AvalonBay Communities reported a Net Income attributable to Common Stockholders of $78.9 million for Q3 2021, leading to a 46.7% decrease in EPS to $0.56 compared to $1.05 in Q3 2020. FFO per share also decreased by 3.4% to $1.96, while Core FFO remained unchanged at $2.06. The Company experienced a 1.2% increase in Same Store total revenue but reported a decrease in Same Store Residential NOI by 0.3%. For the full year 2021, projections anticipate EPS to be between $7.04 and $7.14.

AvalonBay Communities, Inc. (NYSE: AVB) is set to release its third quarter 2021 earnings on October 27, 2021 after market close. A conference call will follow on October 28, 2021, at 1:00 PM ET to discuss results and provide insights on current operations, trends, and future outlook. The call will feature management remarks and a Q&A session. Interested parties can access the webcast via the company’s website.

AvalonBay Communities, Inc. (NYSE: AVB) has declared a cash dividend of $1.59 per share for Q3 2021, payable on October 15, 2021. The dividend is for all common stockholders of record as of October 4, 2021. As of June 30, 2021, AvalonBay owned or had a stake in 288 apartment communities with 85,749 homes across 11 states and the District of Columbia, with 16 communities in development.

AvalonBay Communities, Inc. (NYSE: AVB) reported a projected increase of 0.9% to 1.1% in total residential rental revenue for Same Store communities for Q3 2021, exceeding previous expectations. This achievement is attributed to reduced uncollectible lease revenue and improved lease rates and occupancy. The Company also acquired three properties for a total of approximately $274 million in September 2021, enhancing its portfolio. Average Move-in Rent Value in September 2021 is up 24% compared to December 2020 and 6% compared to September 2019.

AvalonBay Communities, Inc. (NYSE: AVB) announced on September 15, 2021 the completion of a $700 million public offering of 2.050% senior notes due 2032. The effective interest rate for the notes is 2.153%, and interest payments will be made semi-annually. The net proceeds of approximately $693.3 million are expected to finance green projects and general corporate needs. Additionally, the company redeemed its $450 million of 2.95% Medium-Term Notes due 2022, using available cash and credit facilities.

AvalonBay Communities, Inc. (AVB) reported a net income of $447.95 million for Q2 2021, yielding an EPS of $3.21, a 165.3% increase compared to the previous year. However, FFO per share decreased by 10.9% to $1.97, and Core FFO per share fell by 11.2% to $1.98. Year-to-date, EPS rose 75.5% to $4.23, while FFO per share and Core FFO per share decreased by 12.9% and 14.8%, respectively. The company also indicated a decrease in same-store total revenue by 4.2% for Q2, totaling $500.64 million, alongside increasing operating costs. Future projections suggest slight declines in residential revenue and NOI for Q3 and the full year.

AvalonBay Communities (NYSE: AVB) released its 2020 Corporate Responsibility Report, highlighting ESG performance amid the COVID-19 pandemic. The report showcases achievements such as a 15.4% reduction in Scope 1 and 2 emissions and 16% in Scope 3 emissions. AvalonBay was recognized by GRESB as a leader in the residential sector and received the NAREIT Residential Leader in the Light Award. New ESG targets were set for 2025, including gender and minority representation in leadership. The company donated $2.4 million to various causes, including COVID-19 support.

AvalonBay Communities, Inc. (AVB) plans to release its second quarter 2021 earnings on July 28, 2021, after market close. A conference call will follow on July 29, 2021, at 2:00 PM ET to discuss earnings and current operating conditions. Management will address operating trends, development activities, and provide a business outlook. The earnings release will include supplementary documents available on the company’s website. As of March 31, 2021, AvalonBay owned interests in 290 apartment communities with 85,787 homes across 11 states and Washington, D.C.