NYSE$AVB
AvalonBay Communities Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
AvalonBay's financial performance for Q1 2022, with EPS increasing due to gains on real estate sales and Same Store Residential NOI, and FFO per share and Core FFO per share also increasing.
AvalonBay Communities, Inc. reported a Net Income Attributable to Common Stockholders of $262,044,000 for the three months ended March 31, 2022. EPS increased by 83.3% to $1.87, FFO per share increased by 15.5% to $2.24, and Core FFO per share increased by 15.9% to $2.26.
- Net Income Attributable to Common Stockholders for Q1 2022 was $262,044,000.
- EPS for Q1 2022 increased 83.3% to $1.87 from $1.02 for the prior year period.
- FFO per share for Q1 2022 increased 15.5% to $2.24 from $1.94 for the prior year period.
- Core FFO per share for Q1 2022 increased 15.9% to $2.26 from $1.95 for the prior year period.
Headline financials
Revenue & EPS history
AvalonBay · Revenue · Quarterly
$614M
Revenue by segment
AvalonBay · $497M total across 1 segment · Q1 2021
- Same Store Residential$497M—100.0%
Forward guidance
For its second quarter and full year 2022 financial outlook, the Company expects the following:Projected EPS, Projected FFO and Projected Core FFO Outlook (1) Q2 2022Full Year 2022 LowHighLowHighProjected EPS $2.20 —$2.32 $6.05 —$6.45 Projected FFO per share $2.23 —$2.35 $9.37 —$9.77 Projected Core FFO per share$2.25 —$2.37 $9.38 —$9.78
Tailwinds
- Projected EPS for Q2 2022: $2.20 - $2.32
- Projected FFO per share for Q2 2022: $2.23 - $2.35
- Projected Core FFO per share for Q2 2022: $2.25 - $2.37
- Projected EPS for Full Year 2022: $6.05 - $6.45
- Projected FFO per share for Full Year 2022: $9.37 - $9.77
Headwinds
- Residential Opex change 4.0%—5.5%
- Capital markets and transaction activity (2)(0.02)(0.02)(0.05)
- Overhead and other(0.05)(0.05)(0.03)
- Gain on sale of real estate and depreciation expense(0.60)— —
- Same Store Residential revenue0.10 0.10 0.10
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-0.1%
Avg return
Earnings day
-0.2%
Avg return
5 days after
+1.4%
Avg return
30 days after
46%
33 / 72 earnings
Positive
+7.4%
Q2 2022
Best reaction
-6.7%
Q1 2010
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | -0.6% | -0.4% | |
| Q4 2025 | -4.6% | -0.2% | +0.0% | |
| Q3 2025 | -0.9% | -0.1% | +3.2% | |
| Q1 2025 | -0.5% | -1.0% | -1.5% | |
| Q4 2024 | -1.1% | -2.4% | -2.6% | |
| Q3 2024 | +4.7% | +8.1% | +5.3% | |
| Q2 2024 | +3.3% | -1.0% | +9.5% | |
| Q1 2024 | +0.1% | -0.9% | +2.1% | |
| Q4 2023 | -0.2% | -4.7% | -0.2% | |
| Q3 2023 | -0.9% | -3.9% | +2.4% | |
| Q2 2023 | +0.9% | -0.7% | -0.5% | |
| Q1 2023 | +3.5% | +5.9% | +0.1% | |
| Q4 2022 | +0.4% | +0.8% | -7.9% | |
| Q3 2022 | -2.3% | -5.9% | +0.8% | |
| Q2 2022 | +7.4% | +5.2% | +6.0% | |
| Q1 2022 | -2.0% | -9.5% | -13.7% | |
| Q4 2021 | +2.3% | -0.0% | +1.2% | |
| Q3 2021 | +2.0% | +0.3% | +2.1% | |
| Q2 2021 | +0.7% | +0.2% | -1.2% | |
| Q1 2021 | -1.9% | -1.9% | +6.0% | |
| Q4 2020 | +3.3% | +4.1% | +6.7% | |
| Q3 2020 | -2.7% | +3.9% | +20.0% | |
| Q2 2020 | +0.6% | -0.2% | +6.2% | |
| Q1 2020 | +0.7% | -1.3% | +8.4% | |
| Q4 2019 | +0.2% | +1.4% | -4.4% | |
| Q3 2019 | -1.9% | -1.0% | -1.8% | |
| Q2 2019 | -3.7% | -4.9% | +0.8% | |
| Q1 2019 | +1.9% | +0.9% | +4.6% | |
| Q4 2018 | +2.3% | +2.3% | +2.8% | |
| Q3 2018 | +2.1% | -1.0% | +8.0% | |
| Q2 2018 | +2.7% | +4.6% | +7.0% | |
| Q1 2018 | -0.2% | +0.7% | -0.1% | |
| Q4 2017 | -1.7% | -4.7% | -7.8% | |
| Q3 2017 | -0.2% | +0.2% | +0.2% | |
| Q2 2017 | -2.2% | -1.9% | -2.1% | |
| Q1 2017 | -0.6% | +0.9% | +1.1% | |
| Q4 2016 | +1.3% | +0.9% | +4.5% | |
| Q3 2016 | -0.6% | -0.3% | -4.5% | |
| Q2 2016 | -1.6% | +0.2% | -5.8% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | +1.6% | — | — | |
| Q3 2015 | -2.2% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | -0.0% | — | — | |
| Q4 2014 | -2.5% | — | — | |
| Q3 2014 | +0.2% | — | — | |
| Q2 2014 | +1.9% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | +3.9% | — | — | |
| Q3 2013 | -4.3% | — | — | |
| Q2 2013 | +0.6% | — | — | |
| Q1 2013 | +0.9% | — | — | |
| Q4 2012 | -5.9% | — | — | |
| Q3 2012 | -0.1% | — | — | |
| Q2 2012 | -0.8% | — | — | |
| Q1 2012 | +0.8% | — | — | |
| Q4 2011 | -1.5% | — | — | |
| Q3 2011 | +0.7% | — | — | |
| Q2 2011 | -3.6% | — | — | |
| Q1 2011 | -0.9% | — | — | |
| Q4 2010 | -0.4% | — | — | |
| Q3 2010 | +2.9% | — | — | |
| Q2 2010 | +1.4% | — | — | |
| Q1 2009 | -6.7% | — | — | |
| Q1 2010 | -6.7% | — | — | |
| Q4 2007 | -0.2% | — | — | |
| Q4 2009 | -0.2% | — | — | |
| Q3 2008 | +5.3% | — | — | |
| Q3 2009 | +5.3% | — | — | |
| Q4 2008 | +5.3% | — | — | |
| Q2 2008 | -5.1% | — | — | |
| Q2 2009 | -5.1% | — | — |
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