AvalonBay Q1 EPS rises 40% on asset sales

AvalonBay Communities,.

27/04/2026 21:24

Overview

U.S. apartment REIT's Q1 EPS rose 40% yr/yr, driven by gains on asset sales

Core FFO per share for Q1 was flat yr/yr at $2.83

Company repurchased $198 mln in stock during Q1 under its buyback programs

Outlook

AvalonBay expects Q2 EPS between $1.23 and $1.33

Company sees Q2 FFO per share between $2.68 and $2.78

AvalonBay reaffirms full-year FFO and Core FFO outlook, updates full-year EPS to $5.92-$6.42

Result Drivers

ASSET SALES - Higher EPS driven by gains on sale of three communities totaling $179.7 mln in Q1

SAME STORE NOI - Modest 0.2% yr/yr increase in same store residential NOI, with revenue up 1.6% and operating expenses up 4.7%

STOCK REPURCHASES - Repurchased $198 mln in stock during Q1, contributing to capital markets activity

Company press release: ID:nBw2BpnTDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 EPS
$2.33
Q1 Adjusted FFO Per Share
$2.83
Q1 FFO Per Share
$2.72


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 17 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the residential reits peer group is "buy."

Wall Street's median 12-month price target for AvalonBay Communities Inc is $190.50, about 10.5% above its April 24 closing price of $172.38

The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 34 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)