Quarterly ResultApr 28, 2026, 07:12 AM
AVB Q1 EPS $2.33, FFO $2.72; Reaffirms FY FFO; Updates FY EPS
AI Summary
AvalonBay Communities, Inc. reported its first quarter 2026 operating results, with EPS increasing significantly to $2.33, while FFO per share saw a slight decrease and Core FFO per share remained flat year-over-year. The company provided its second quarter 2026 guidance and reaffirmed its full-year FFO and Core FFO outlook, though it updated its full-year EPS outlook due to revisions in projected gains from dispositions. Key activities included the sale of three communities for $340.75 million, the completion of one development, the start of two new developments, and the repurchase of $198.48 million in common stock under a new $1 billion stock repurchase program.
Key Highlights
- AVB Q1 2026 EPS was $2.33, a 40.4% increase from Q1 2025.
- AVB Q1 2026 FFO per share was $2.72, a 2.2% decrease from Q1 2025.
- AVB Q1 2026 Core FFO per share was $2.83, flat compared to Q1 2025.
- Company provides Q2 2026 projected EPS outlook of $1.23 to $1.33.
- Full-year EPS outlook updated to $5.92-$6.42, reflecting changes in planned dispositions.
- Sold three communities for $340.75 million, generating a GAAP gain of $179.69 million.
- Repurchased 1,130,336 shares for $198.48 million in Q1 2026.
- Adopted a new $1 billion stock repurchase program, replacing the prior $500 million program.