Overview

* AvalonBay Q2 2025 EPS rises 5.6% yr/yr to $1.88

* Core FFO per share up 1.8% yr/yr to $2.82

Outlook

* AvalonBay projects Q3 2025 EPS between $2.41 and $2.51

* Company expects full-year 2025 EPS between $7.75 and $8.15

* AvalonBay anticipates full-year residential NOI change of 2.0% to 3.4%

* Company forecasts Q3 2025 Core FFO per share between $2.75 and $2.85

* Company forecasts 2025 Core FFO per share between $11.19 and $11.59

Result Drivers

* SAME STORE NOI - Increase in same store residential NOI contributed to EPS and FFO growth

* REAL ESTATE GAINS - Gains from real estate sales positively impacted EPS

* OVERHEAD COSTS - Increased overhead costs partially offset revenue gains

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS $1.88

Q2 $2.82

Adjusted

FFO Per

Share

Q2 FFO $2.8

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 13 "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 $229.50, about 11.5% above its July 29 closing price of $203.12

* The stock recently traded at 35 times the next 12-month earnings vs. a P/E of 37 three months ago

Press Release:

(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.)