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AvalonBay (AVB)
NYSE:AVB
Earnings Data
Report Date
Apr 29, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.26Last Year’s EPS
1.66Same Quarter Last Year
Moderate Buy
Based on 14 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a constructive long-term story anchored by a strong balance sheet, accretive development pipeline, meaningful capital raised and executed share repurchases, and high resident retention/engagement metrics. However, 2026 is framed as a transition year with modest same-store revenue guidance (1.4%), regional demand weakness in markets such as Denver and the Mid‑Atlantic, near-term OpEx and legislative pressures, and temporary GAAP-related development earnings dilution. Taken together, management positions the company as well‑capitalized and prepared to benefit from improving fundamentals and development earnings in 2027 and beyond.Company Guidance
Solid 2025 Revenue Growth and Best-in-Class Resident Metrics
Full-year 2025 revenue growth of 2.1%; company turnover of 41% — the lowest in company history — and a near all-time high Mid-Lease Net Promoter Score of 34, supporting high retention and renewal acceptance.
Active, Accretive Development Pipeline
Started $1.65 billion of projects in 2025 with a projected initial stabilized yield of 6.2%; 2026 planned starts of $800 million with targeted development yields of 6.5%–7%, and development NOI expected of $47 million in 2026 (incremental $75 million in 2027).
Strong Capital Position and Shareholder Returns
Raised $2.4 billion of capital in 2025 at an initial cost ~5%; repurchased ~$490 million of stock at an average price of $182 (implied yield north of 6%); Board increased quarterly dividend by 1.7% to $1.78 per share.
Balance Sheet and Liquidity Flexibility
Management highlighted one of the strongest REIT balance sheets in the sector, expanded commercial paper capacity (running ~$400M–$500M persistently) to increase access to attractive floating-rate funding, and the ability to fund ~$1.25B of annual investment capacity from free cash flow and sales.
Operating Initiative Progress
On track to $80 million of annual incremental NOI from operating initiatives (60% achieved) with an additional $7 million of NOI targeted for 2026 from these initiatives.
Forward Guidance for Same-Store and Rent Trends
2026 guidance assumes modest same-store revenue growth of 1.4% and like-term effective rent change of ~2% for full year 2026 (first half low-1% range, second half improving to mid-2s). Renewal offers in Feb–Mar came out in the 4.0%–4.5% range (expected to settle ~100–125 bps lower).
Development Yield Spread Track Record
Over the past two years started $2.7 billion of development at yields 110–130 basis points higher than their cost of capital; management expects an even wider spread on 2026 planned starts.
Supply Tailwind in Established Regions
Management expects materially lower new apartment deliveries in many established regions in 2026 (examples: Northern CA -60% to ~3,000 units; Mid-Atlantic -60% to ~5,000; Boston -30% to ~4,000; SoCal -40% to ~11,000), which should support improving fundamentals through 2026–2027.
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
AVB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 04, 2026 | $177.81 | $169.70 | -4.56% |
Oct 29, 2025 | $176.29 | $174.71 | -0.90% |
Jul 30, 2025 | $194.53 | $184.59 | -5.11% |
Apr 30, 2025 | $206.30 | $205.34 | -0.47% |
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.
FAQ
When does AvalonBay (AVB) report earnings?
AvalonBay (AVB) is schdueled to report earning on Apr 29, 2026, After Close (Confirmed).
What is AvalonBay (AVB) earnings time?
AvalonBay (AVB) earnings time is at Apr 29, 2026, After Close (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 2026 (Q1) is 1.26.