Overview

* AvalonBay Q3 EPS increased 2.7% yr/yr, with FFO per share up 4.5%

* Core FFO per share rose 0.4% yr/yr in Q3

* Company completed Avalon Annapolis development for $195 mln

Outlook

* AvalonBay projects Q4 2025 EPS between $1.18 and $1.28

* Company expects full-year 2025 EPS between $7.35 and $7.55

* AvalonBay sees full-year 2025 Core FFO per share at $11.15 to $11.35

Result Drivers

* SAME STORE NOI - Increase in same store residential NOI contributed positively to EPS and FFO per share

* CAPITAL MARKETS IMPACT - Capital markets activity negatively affected EPS and FFO per share

* DEVELOPMENT COMPLETION - Completion of Avalon Annapolis development for $195 mln added to Q3 activities

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $2.68

Q3 Core $2.75

FFO Per

Share

Q3 FFO $3.01

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 14 "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 ( AVB ) is $214.00, about 14% above its October 28 closing price of $184.12

* The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 35 three months ago

Press Release:

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(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.)