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AvalonBay Communities Inc Stock Research

AVB

171.73USD+1.26(+0.74%)Market Closed

Market Summary

USD171.73+1.26
Market Closed
0.74%

AVB Alerts

AVB Stock Price

AVB RSI Chart

AVB Valuation

Market Cap

24.0B

Price/Earnings (Trailing)

21.16

Price/Sales (Trailing)

9.06

EV/EBITDA

11.35

Price/Free Cashflow

16.31

AVB Price/Sales (Trailing)

AVB Profitability

EBT Margin

44.38%

Return on Equity

10.1%

Return on Assets

5.56%

Free Cashflow Yield

6.13%

AVB Fundamentals

AVB Revenue

Revenue (TTM)

2.7B

Revenue Y/Y

9.9%

Revenue Q/Q

0.75%

AVB Earnings

Earnings (TTM)

1.1B

Earnings Y/Y

-28.07%

Earnings Q/Q

-51.24%

Price Action

52 Week Range

153.07218.54
(Low)(High)

Last 7 days

-2.6%

Last 30 days

0.4%

Last 90 days

-1.9%

Trailing 12 Months

-15.0%

AVB Financial Health

Debt/Equity

0.72

Debt/Cashflow

0.18

AVB Investor Care

Dividend Yield

3.84%

Dividend/Share (TTM)

6.6

Shares Dilution (1Y)

0.13%

Diluted EPS (TTM)

7.29

Peers (Alternatives to AvalonBay Communities)

View All Peers In Detail
NameMkt Capsorted ascendingRevenuePrice %, 1MReturns, 1YP/EP/SRev 1-YrInc 1-Yr
LARGE-CAP
50.3B
4.3B
-0.67% -7.84%
11.56
11.69
18.80% 113.99%
28.8B
4.9B
1.25% -24.57%
77.2
5.88
9.82% -73.28%
22.6B
2.0B
-1.01% -20.50%
24.61
11.43
-20.93% -31.79%
19.1B
2.7B
-6.88% -30.41%
25.48
7.14
18.91% 81.13%
13.2B
1.7B
-4.07% -25.83%
104.43
7.61
15.49% -81.09%
MID-CAP
7.1B
1.1B
-8.04% -21.25%
18.25
6.51
10.19% 46.60%
4.3B
814.4M
-2.26% -4.29%
465.69
5.23
63.41% 107.43%
2.6B
1.8B
-10.72% -60.29%
-6.95
1.42
9.23% -286.27%
2.0B
857.9M
-0.32% -17.87%
-23.05
2.35
-1.75% -315.36%
SMALL-CAP
2.1B
421.5M
12.31% 19.76%
23.93
5.05
1.34% 437.34%
1.4B
862.4M
-3.29% -61.71%
-11.46
1.67
7.01% -127.00%
1.2B
184.6M
6.32% 29.74%
12.67
6.33
2.55% 1950.56%
923.1M
745.2M
2.66% -52.44%
-24.26
1.24
2.17% -183.81%

Financials for AvalonBay Communities

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Revenue2.3%2,6542,5932,5252,4402,358
  S&GA Expenses4.0%77.0074.0070.0073.0070.00
EBITDA-3.5%2,1962,2761,8432,135-
EBITDA Margin-6.1%0.85*0.90*0.75*0.91*-
Earnings Before Taxes-9.9%1,0371,1511,2438241,133
EBT Margin-9.8%0.44*0.49*0.34*0.48*-
Interest Expenses0.1%230230228227224
Net Income-7.7%1,1361,2318151,124-
Net Income Margin-10.1%0.44*0.49*0.33*0.48*-
Free Cahsflow3.6%1,4221,3721,2751,217-
Balance Sheet
(In Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Assets-1.4%20,17520,45820,16519,76919,870
    Cash Equivalents-38.7%376613201153343
Liabilities-2.2%9,0039,2028,9518,8488,889
  Long Term Debt0.2%8,0788,0648,070--
Shareholder's Equity-0.7%11,16911,25311,21010,91810,977
  Retained Earnings-17.2%402485467195279
  Additional Paid-In Capital0.0%10,76410,76510,73910,72710,711
Shares Outstanding0.1%140140140140140
Minority Interest0%0.000.001.001.001.00
Cashflow (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2023Q12022Q42022Q32022Q22022Q1
Cashflow From Operations3.7%1,4741,4221,3721,2751,217
  Share Based Compensation2.8%35.0034.0032.0030.0027.00
Cashflow From Investing-31.6%-737-560-656-1,069-558
Cashflow From Financing-21.9%-818-671-663-431-430
  Buy BacksInfinity%5.000.000.00--

Risks for AVB

What is the probability of a big loss on AVB?

40.4%


Probability that AvalonBay Communities stock will be more than 20% underwater in next one year

30.4%


Probability that AvalonBay Communities stock will be more than 30% underwater in next one year.

18.5%


Probability that AvalonBay Communities stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does AVB drawdown profile look like?

Y-axis is the maximum loss one would have experienced if AvalonBay Communities was unfortunately bought at previous high price.

Drawdowns

Returns for AVB

Cumulative Returns on AVB

5.5%


10-Year Cumulative Returns

2.4%


7-Year Cumulative Returns

4.3%


5-Year Cumulative Returns

5.2%


3-Year Cumulative Returns

What are the long-term rolling returns for AVB?

FIve years rolling returns for AvalonBay Communities.

Annualized Returns

Which funds bought or sold AVB recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-05-24
Old North State Trust, LLC
added
89.31
25,000
51,000
0.04%
2023-05-23
Toroso Investments, LLC
added
136
4,600,000
7,758,000
0.13%
2023-05-22
AMERIPRISE FINANCIAL INC
added
2.66
21,601,900
339,141,000
0.11%
2023-05-22
PUTNAM INVESTMENTS LLC
reduced
-18.49
-497,426
2,778,200
-%
2023-05-22
FDx Advisors, Inc.
unchanged
-
-
769,000
0.03%
2023-05-18
NEW YORK STATE COMMON RETIREMENT FUND
reduced
-3.74
51,000
31,652,000
0.04%
2023-05-18
JPMORGAN CHASE & CO
added
18.5
154,462,000
817,348,000
0.10%
2023-05-18
Border to Coast Pensions Partnership Ltd
sold off
-100
-12,507,000
-
-%
2023-05-17
Chevy Chase Trust Holdings, LLC
added
1.02
673,552
13,846,800
0.06%
2023-05-17
Ilmarinen Mutual Pension Insurance Co
unchanged
-
252,000
6,466,000
0.09%

1–10 of 42

Latest Funds Activity

Are funds buying AVB calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own AVB
No. of Funds

AvalonBay Communities News

MarketBeat
Davis Selected Advisers Raises Holdings in AvalonBay ....
MarketBeat,
12 hours ago
Zacks Investment Research
Zacks Investment Research

Schedule 13G FIlings of AvalonBay Communities

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
16.38%
22,919,307
SC 13G/A
Feb 06, 2023
state street corp
6.90%
9,656,376
SC 13G/A
Jan 26, 2023
blackrock inc.
10.7%
15,029,314
SC 13G/A
Jan 20, 2023
blackrock inc.
10.7%
15,029,314
SC 13G/A
Feb 10, 2022
state street corp
6.77%
9,455,348
SC 13G/A
Feb 09, 2022
vanguard group inc
16.01%
22,369,485
SC 13G/A
Feb 07, 2022
blackrock inc.
10.9%
15,215,579
SC 13G/A
Feb 10, 2021
vanguard group inc
15.66%
21,865,040
SC 13G/A
Feb 05, 2021
state street corp
5.90%
8,235,431
SC 13G
Jan 27, 2021
blackrock inc.
10.3%
14,311,266
SC 13G/A

AVB Fair Value

AvalonBay Communities fair value in different scenarios

The table shows the Fair Value estimates for AvalonBay Communities for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.
Fair ValueVery PessimisticPessimisticBase CaseOptimisticVery Optimistic
Very Low Inflation

92.98

-45.86%

112.24

-34.64%

157.83

-8.09%

195.42

13.79%

230.16

34.02%
Current Inflation

87.24

-49.20%

103.89

-39.50%

142.23

-17.18%

173.66

1.12%

202.65

18.01%
Very High Inflation

80.09

-53.36%

93.67

-45.46%

123.79

-27.92%

148.35

-13.61%

170.94

-0.46%

Historical AvalonBay Communities Fair Value Estimates


Very Pessimistic Case
Pessimistic Case
Fair Value
Optimistic Case
Very Optimistic Case
Closing Stock Price

Recent SEC filings of AvalonBay Communities

View All Filings
Date Filed Form Type Document
May 26, 2023
8-K
Current Report
May 25, 2023
4
Insider Trading
May 25, 2023
4
Insider Trading
May 25, 2023
4
Insider Trading
May 25, 2023
4
Insider Trading
May 24, 2023
4
Insider Trading
May 22, 2023
144
Notice of Insider Sale Intent
May 05, 2023
10-Q
Quarterly Report
Apr 27, 2023
8-K
Current Report
Apr 10, 2023
ARS
ARS

Latest Insider Trading transactions for AVB

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-05-22
Birenbaum Matthew H.
sold
-704,397
176
-4,000
chief investment officer
2023-03-01
Schall Benjamin
sold (taxes)
-
-
-5,981
ceo & president
2023-03-01
MUELLER CHARLES E JR
acquired
-
-
149
-
2023-03-01
NAUGHTON TIMOTHY J
sold (taxes)
-
-
-16,111
-
2023-03-01
Lockridge Joanne M
sold (taxes)
-
-
-529
executive vice president
2023-03-01
Birenbaum Matthew H.
sold (taxes)
-
-
-4,272
chief investment officer
2023-03-01
SCHULMAN EDWARD M
sold (taxes)
-
-
-1,598
evp-general counsel
2023-03-01
HAVNER RONALD L JR
acquired
-
-
193
-
2023-03-01
Breslin Sean J.
sold (taxes)
-
-
-4,133
chief operating officer
2023-03-01
Shea Keri A
sold (taxes)
-
-
-368
svp-finance and treasurer

1–10 of 50

Benjamin W. Schall
2930
As of December 31, 2020, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 86,025 apartment homes in 11 states and the District of Columbia, of which 18 communities were under development and one community was under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion markets consisting of Southeast Florida and Denver, Colorado (the "Expansion Markets").

AVB Income Statement

2023-03-31
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:  
Rental and other income$ 673,642$ 613,175
Management, development and other fees1,066752
Total revenue674,708613,927
Expenses:  
Operating expenses, excluding property taxes164,832151,312
Property taxes74,49570,738
Expensed transaction, development and other pursuit costs, net of recoveries2,992987
Interest expense, net56,82156,526
Depreciation expense204,743201,786
General and administrative expense20,40017,421
Casualty loss5,0510
Total expenses529,334498,770
Income from unconsolidated investments4,845317
(Loss) gain on sale of communities(13)148,800
Other real estate activity129273
Income before income taxes150,335264,547
Income tax expense(3,560)(2,471)
Net income146,775262,076
Net loss (income) attributable to noncontrolling interests127(32)
Net income attributable to common stockholders146,902262,044
Other comprehensive income:  
(Loss) gain on cash flow hedges(340)10,155
Cash flow hedge losses reclassified to earnings3541,013
Comprehensive income$ 146,916$ 273,212
Earnings per common share - basic:  
Net income attributable to common stockholders (in dollars per share)$ 1.05$ 1.87
Earnings per common share - diluted:  
Net income attributable to common stockholders (in dollars per share)$ 1.05$ 1.87

AVB Balance Sheet

2023-03-31
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Real estate:  
Land and improvements$ 4,645,240$ 4,640,971
Buildings and improvements18,852,85318,804,510
Furniture, fixtures and equipment1,202,8481,174,135
Gross operating real estate24,700,94124,619,616
Less accumulated depreciation(7,058,327)(6,878,556)
Net operating real estate17,642,61417,741,060
Construction in progress, including land1,211,4051,072,543
Land held for development177,889179,204
Real estate assets held for sale, net11,8320
Total real estate, net19,043,74018,992,807
Cash and cash equivalents254,466613,189
Cash in escrow121,598121,056
Resident security deposits36,34736,815
Unconsolidated investments219,143212,084
Deferred development costs64,34858,489
Prepaid expenses and other assets296,995279,993
Right of use lease assets138,258143,331
Total assets20,174,89520,457,764
LIABILITIES AND EQUITY  
Unsecured notes, net7,353,7217,602,305
Variable rate unsecured credit facility and commercial paper00
Mortgage notes payable, net713,174713,740
Dividends payable233,375226,022
Payables for construction84,97872,802
Accrued expenses and other liabilities322,851306,186
Lease liabilities157,414162,671
Accrued interest payable73,29554,100
Resident security deposits64,09763,700
Total liabilities9,002,9059,201,526
Commitments and contingencies
Redeemable noncontrolling interests2,7342,685
Equity:  
Preferred stock, $0.01 par value; $25 liquidation preference; 50,000,000 shares authorized at March 31, 2023 and December 31, 2022; zero shares issued and outstanding at March 31, 2023 and December 31, 202200
Common stock, $0.01 par value; 280,000,000 shares authorized at March 31, 2023 and December 31, 2022; 140,002,856 and 139,916,864 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively1,4011,400
Additional paid-in capital10,764,46110,765,431
Accumulated earnings less dividends401,879485,221
Accumulated other comprehensive income (loss)1,4381,424
Total stockholders' equity11,169,17911,253,476
Noncontrolling interests7777
Total equity11,169,25611,253,553
Total liabilities and equity$ 20,174,895$ 20,457,764