NYSE$AVB
AvalonBay Communities Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
AvalonBay's Q3 2023 performance reflected a mix of strategic developments and operational results.
AvalonBay Communities, Inc. reported Earnings per Share of $1.21, FFO per share of $2.48, and Core FFO per share of $2.66 for the third quarter of 2023. The company completed the development of three communities and started construction on two new apartment communities. Same Store total revenue increased by 5.0%, driven by a 5.2% increase in Same Store Residential rental revenue.
- EPS was reported at $1.21 for Q3 2023, a decrease compared to $3.53 in Q3 2022.
- FFO per share reached $2.48, slightly up from $2.46 in the same quarter last year.
- Core FFO per share increased to $2.66, compared to $2.50 in Q3 2022.
- Same Store Residential NOI increased by 5.3%, reaching $432,922,000.
Headline financials
Revenue & EPS history
AvalonBay · Revenue · Quarterly
$698M
Revenue by segment
AvalonBay · $497M total across 1 segment · Q1 2021
- Same Store Residential$497M—100.0%
Forward guidance
For its fourth quarter and full year 2023 financial outlook, the Company expects the following: Projected EPS between $1.76 and $1.86, Projected FFO per share between $2.65 and $2.75, Projected Core FFO per share between $2.69 and $2.79 for Q4 2023.
Tailwinds
- Same Store Residential revenue expected to change between 6.2% and 6.4%.
- Same Store Residential Opex expected to change between 6.1% and 6.5%.
- Same Store Residential NOI expected to change between 6.1% and 6.5%.
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 Q3 2023
-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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