AVB · Avalonbay Communities Inc
Price & Indicators
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AI Brief
TL;DR.
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Ask ALVIS about this →Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders NeutralIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| % change -- cash revenue | 1.7% | Q2 2026 vs. Q2 2025 | — |
| Annualized Net Debt-to-Core EBITDAre non-GAAP | 4.6 | Q2 2026 | — |
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| Asset Preservation Capex Per Home | $1,234 | YTD 2026 | — |
| Commercial NOI | $7.57M | Q2 2026 | — |
| Core EBITDAre non-GAAP | $484.26M | Q2 2026 | — |
| Core EBITDAre, annualized non-GAAP | $1.94B | Q2 2026 | — |
| Core FFO non-GAAP | $406.04M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP FFO $387.55M
-$7.46M Unconsolidated entity activity (1)
+$102K Structured Investment Program loan reserve (2)
+$0K Hedge accounting activity
+$525K Advocacy contributions
+$74K Severance related costs
+$19.09M Expensed transaction, development and other pursuit costs, net of recoveries (3)
-$223K Other real estate activity (4)
+$6.32M Legal settlements and costs
+$70K Income tax expense (benefit)
= Core FFO $406.04M
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| Core FFO per common share - diluted non-GAAP | $2.86 | Q2 2026 | — |
| Development/Redevelopment Apartment Homes | 11,781 | Q2 2026 | — |
| Development/Redevelopment NOI | $13.57M | Q2 2026 | — |
| Development/Redevelopment Residential NOI | 23.8M | YTD 2026 | — |
| EBITDA non-GAAP | $462.15M | Q2 2026 | — |
| EBITDAre non-GAAP | $465.85M | Q2 2026 | — |
| Economic Gain non-GAAP | $35.84M | YTD 2026 | — |
| FFO non-GAAP | $387.55M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Net income attributable to common stockholders $155.72M
+$230.32M Depreciation - real estate assets, including joint venture adjustments
+$1.17M Income attributable to noncontrolling interests
+$338K Loss (gain) on sale of previously depreciated real estate
+$0K Casualty loss on real estate
= FFO $387.55M
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| FFO per common share - diluted non-GAAP | $2.73 | Q2 2026 | — |
| Interest Coverage non-GAAP | 6.7 | Q2 2026 | — |
| Net debt non-GAAP | $8.87B | Q2 2026 | — |
| Net Debt-to-Core EBITDAre non-GAAP | 4.6 | Q2 2026 | — |
| New Move-In Like-Term Effective Rent Change | 0.8% | Q2 2026 | — |
| NOI | $529.24M | Q2 2026 | — |
| NOI Enhancing Capex Per Home | $784 | YTD 2026 | — |
| NOI from real estate assets sold or held for sale | 4.52M | YTD 2026 | — |
| NOI on unencumbered assets | 998.22M | YTD 2026 | — |
| Other Stabilized Apartment Homes | 5,207 | Q2 2026 | — |
| Other Stabilized NOI | $19.55M | Q2 2026 | — |
| Other Stabilized Residential NOI | 38.56M | YTD 2026 | — |
| Renewal Like-Term Effective Rent Change | 4.1% | Q2 2026 | — |
| Residential NOI non-GAAP | $521.67M | Q2 2026 | — |
| Residential Revenue with Concessions on a Cash Basis non-GAAP | $712.17M | Q2 2026 | — |
| Same Store Apartment Homes | 79,473 | Q2 2026 | — |
| Same Store Average Revenue per Occupied Home | $3,097 | Q2 2026 | — |
| Same Store Like-Term Effective Rent Change | 2.6% | Q2 2026 | — |
| Same Store Residential NOI non-GAAP | $488.55M | Q2 2026 | — |
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| Same Store Total NOI | $488.55M | Q2 2026 | — |
| Total Apartment Homes | 96,461 | Q2 2026 | — |
| Total NOI | $529.24M | Q2 2026 | — |
| Total NOI generated by real estate assets | 1.05B | YTD 2026 | — |
| Total outstanding common shares and DownREIT Units | 142,855,625 | Q2 2026 | — |
| Total Residential NOI | 1.03B | YTD 2026 | — |
| Total Same Store Average Monthly Revenue Per Occupied Home | $3,081 | YTD 2026 | — |
| Total Same Store Economic Occupancy | 96.1% | YTD 2026 | — |
| Total Same Store Residential Operating Expenses | 221.03M | Q2 2026 | — |
| Weighted average common shares and DownREIT Units outstanding - diluted | 141,834,769 | Q2 2026 | — |
| Weighted average common shares and participating securities outstanding - basic | 140,850,668 | Q2 2026 | — |
| Weighted avg years to maturity of total debt | 6.5 | Q2 2026 | — |
| YTD 2026 Unencumbered NOI non-GAAP | 95% | YTD 2026 | — |
| Core FFO per share non-GAAP | $2.83 | Q1 2026 | — |
| FFO per share non-GAAP | $2.72 | Q1 2026 | — |
| Unencumbered NOI non-GAAP | 95% | Q1 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
REIT - Residential — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
AVB
this stock
Avalonbay Communities Inc
|
$26.28B | +1.5% | +4.4% | 25.2 | 2.6% |
|
VMRK
Vivmark Residential
|
$24.01B | +3.3% | +4.8% | 27.7 | 2.8% |
|
ESS
Essex Property Trust, Inc.
|
$18.39B | +9.9% | +6.4% | 44.6 | 3.5% |
|
INVH
Invitation Homes Inc.
|
$17.84B | +8.9% | +4.2% | 27.7 | 2.1% |
|
MAA
Mid America Apartment Communities Inc.
|
$15.30B | -4.9% | +0.8% | 39.8 | 3.9% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| AVB | -1.9% | -4.4% | +4.4% | -0.8% | +1.5% |
| SPY | +0.4% | +4.5% | +13.8% | +3.9% | +13.9% |
| vs SPY | -2.3% | -8.9% | -9.4% | -4.8% | -12.3% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.