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AvalonBay (AVB)
NYSE:AVB
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.27Last Year’s EPS
$1.7Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 04, 2024
|% Change Since: 1.68%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a positive outlook with AvalonBay Communities exceeding financial guidance and demonstrating strong growth and strategic execution. Despite challenges such as supply pressure in the Sunbelt and higher operating expenses, the company remains optimistic about its development pipeline and future growth prospects.Company Guidance
During AvalonBay Communities' Q3 2024 earnings call, the company provided updated guidance and insights into their strategic priorities and financial performance. AvalonBay exceeded their core FFO guidance by $0.03 per share for the quarter, with a revised full-year core FFO guidance of $11.04 per share, indicating a 3.9% growth rate. They are on track to achieve $80 million in annual incremental NOI through operating initiatives, having reached $37 million so far. The company plans to increase its development starts to nearly $1.1 billion with a projected untrended initial stabilized yield of 6.3%. Their portfolio is now 73% suburban, and they continue to optimize through strategic asset sales and reallocations. For 2025, AvalonBay anticipates steady demand supported by low new supply and expects same-store revenue growth of 3.5% and same-store NOI growth of 3%. The company also highlighted a strong balance sheet and access to $850 million of forward equity at a 5% initial cost to support future growth.Exceeding Core FFO Guidance
AvalonBay exceeded core FFO guidance for Q3 by $0.03 per share and increased full-year core FFO guidance for 2024 to $11.04 per share, implying a 3.9% growth rate.
Successful Strategic Initiatives
Achieved $37 million towards a $80 million target for incremental NOI through operating model transformation, and increased suburban portfolio allocation to 73%, up from 70% last year.
Development Growth Engine
2024 completions outperformed original underwriting, achieving a 6.5% yield, and increased planned development starts for the year to nearly $1.1 billion with a projected yield of 6.3%.
Strong Balance Sheet
Operated with one of the strongest balance sheets in the REIT industry, supported by $850 million in recent forward equity activity at an implied cost of approximately 5%.
Improved Rent Growth Prospects
Average asking rent for the portfolio was approximately 3% higher than the same date last year, with East Coast rents roughly 4% higher.
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AVB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AVB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $218.50 | $226.38 | +3.61% |
| Jul 31, 2024 | $203.37 | $211.42 | +3.96% |
| Apr 25, 2024 | $188.31 | $188.44 | +0.07% |
| Jan 31, 2024 | $174.54 | $173.70 | -0.48% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does AvalonBay (AVB) report earnings?
AvalonBay (AVB) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is AvalonBay (AVB) earnings time?
AvalonBay (AVB) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AVB EPS forecast?
AVB EPS forecast for the fiscal quarter 2024 (Q4) is $1.27.
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