AvalonBay Communities, Inc. - AVB STOCK NEWS

AvalonBay Communities, Inc. (NYSE: AVB) will release its first quarter 2023 earnings on April 26, 2023, after market close. A conference call will be held on April 27, 2023, at 1:00 PM ET to discuss the results. Investors can access the call via phone or webcast.

As of December 31, 2022, AvalonBay owned 294 apartment communities with 88,475 homes across 12 states and Washington D.C., including 18 in development. The call will cover operating trends, acquisitions, and the Company’s outlook.

AvalonBay Communities, Inc. (NYSE: AVB) reported a 10.5% increase in Same Store Residential rental revenue for the two months ending February 28, 2023, compared to the previous year. This growth aligns with their earlier forecast from February 8, 2023. Key operating metrics showed Economic Occupancy at 95.6% in December 2022, rising to 96.2% by February 2023. Renewal offers for March and April 2023 average increases around 7% over existing leases. The company operates 294 apartment communities with 88,475 homes across several key U.S. markets.

AvalonBay Communities, Inc. (NYSE: AVB) has announced its 2023 Annual Meeting of Stockholders to take place virtually on May 24, 2023, at 10:00 A.M. Eastern Time. Stockholders of record as of March 27, 2023, will have the opportunity to participate online. The meeting can be accessed through the company’s dedicated website, starting 15 minutes prior to the event. As of December 31, 2022, AvalonBay owned or held interests in 294 apartment communities comprising 88,475 apartment homes across 12 states and the District of Columbia, with 18 communities under development. Further information will be available in the upcoming Proxy Statement.

AvalonBay Communities (NYSE: AVB) reported its Q4 2022 results, revealing a 28.3% drop in EPS to $1.72, but positive growth in FFO and Core FFO per share, which increased by 13.2% to $2.57 and 14.1% to $2.59, respectively. For the full year, EPS rose 12.9% to $8.12, while FFO per share saw an 18.9% increase to $9.67. The Company declared a 3.8% increase in its Q1 2023 dividend to $1.65 per share, payable on April 17, 2023. AvalonBay also completed several development projects and reported strong same-store revenue growth of 10.2% in Q4 2022.

AvalonBay Communities, Inc. (NYSE: AVB) has announced the final income allocations for its 2022 dividend distributions on common stock. The total distribution per share is $6.36, consisting of $5.22 as ordinary taxable dividends, $0.00 return of capital, $0.97 as long-term capital gains, and $0.17 as unrecaptured Section 1250 gain. The dividends were declared throughout 2022, with payment dates extending from April 15, 2022, to January 17, 2023. Investors are advised to consult tax advisors regarding the tax implications of these distributions.

AvalonBay Communities, Inc. (NYSE: AVB) will release its fourth quarter 2022 earnings on February 8, 2023, after the market closes. A conference call is scheduled for February 9, 2023, at 1:00 PM ET, to discuss the results. The earnings release will include supplemental attachments available on the company's website. As of September 30, 2022, AvalonBay owned or managed 293 apartment communities with 88,405 homes across 12 states and the District of Columbia, showcasing its extensive real estate portfolio.

AvalonBay Communities (NYSE: AVB) has completed a public offering of $350 million in senior unsecured notes due in 2033. The notes carry a 5.000% coupon rate and yield investors 5.050%. The effective interest rate is 4.373%, considering offering costs and hedging. Proceeds of approximately $345.5 million will be utilized for land acquisitions, development, and general corporate purposes, including debt repayment. Interest payments will occur semi-annually, starting August 15, 2023.

AvalonBay Communities, Inc. (NYSE: AVB) has been awarded the 2022 Leader in the Light Award for the residential sector by the National Association of Real Estate Investment Trusts (Nareit), marking its seventh win. This accolade recognizes superior environmental, social, and governance (ESG) practices among REITs. AvalonBay also achieved the highest rating in the Global Real Estate Sustainability Benchmark (GRESB) assessment as both a Global and Regional Sector Leader.

AvalonBay Communities, Inc. (NYSE: AVB) has declared a cash dividend of $1.59 per share for Q4 2022. This dividend is payable on January 17, 2023, to shareholders of record as of December 30, 2022. As of September 30, 2022, AvalonBay owned or had interests in 293 apartment communities, totaling 88,405 units across 12 states and the District of Columbia.