Quarterly ResultMay 7, 2026, 12:36 PM
AvalonBay Q1 Net Income $325.7M, EPS $2.33; Repurchases $198.5M Stock
AI Summary
AvalonBay Communities reported a significant increase in net income and diluted EPS for the first quarter of 2026, largely driven by a substantial gain on the sale of communities. The company also repurchased $198.5 million in common stock under its new $1 billion stock repurchase program. Additionally, AvalonBay declared a quarterly dividend of $1.78 per share, an increase from the prior year's $1.75 per share.
Key Highlights
- Net income attributable to common stockholders rose 37.7% to $325.7 million.
- Diluted earnings per common share increased 40.4% to $2.33.
- Total revenue grew 3.3% to $770.3 million.
- Gain on sale of communities surged 218.6% to $179.9 million.
- Repurchased 1.13 million shares of common stock for $198.5 million.
- Declared a quarterly dividend of $1.78 per share, up from $1.75 in prior year.
- Total real estate, net, was $20.83 billion as of March 31, 2026.
- Cash and cash equivalents stood at $121.2 million as of March 31, 2026.
Price Impact
More from AVB