Avalonbay Cmntys Inc Stock Price, News & Analysis

AvalonBay Communities, Inc. (NYSE: AVB) will hold its 2022 Annual Meeting of Stockholders on May 19, 2022, at 10:00 A.M. EDT. Eligible stockholders as of March 24, 2022, can virtually attend and vote via audio webcast. Access the meeting at www.virtualshareholdermeeting.com/AVB2022. As of December 31, 2021, AvalonBay owned interests in 297 apartment communities with 87,992 homes, operating primarily in major U.S. metropolitan areas.

AvalonBay Communities (NYSE: AVB) reported Q4 2021 net income of $335.2 million, leading to a 1.6% decline in diluted EPS to $2.40. This decrease was primarily due to reduced gains on real estate sales and increased depreciation expenses. However, FFO per share surged by 17.6% to $2.27. For the full year, EPS rose 22.1% to $7.19, while FFO per share fell 3.8% to $8.13. The company completed significant development projects, acquiring several properties and selling assets, including $283 million worth of communities in Q4. The 2022 outlook projects EPS between $6.56 and $7.06.

AvalonBay Communities, Inc. (NYSE: AVB) has announced its final income allocations for the 2021 dividend distributions on its Common Stock, totaling $6.36 per share. The dividends, payable on April 15, 2021, include taxable ordinary dividends and capital gain distributions. The breakdown shows $1.59 classified as ordinary dividends, $0.87 as taxable ordinary dividends, and other capital gains. The company manages 293 apartment communities in major metropolitan areas.

PS Business Parks (NYSE:PSB) announced the appointment of Stephen W. Wilson as interim President and CEO, and Maria R. Hawthorne as interim COO, effective January 17, 2022, following Dan "Mac" Chandler III's temporary leave for health reasons. Adeel Khan joined as CFO on January 10, 2022. The Board expresses confidence in the new interim leadership, highlighting their extensive experience. PS Business Parks operates 97 properties, serving 5,000 tenants across 28 million square feet, primarily in coastal markets.

AvalonBay Communities, Inc. (NYSE: AVB) will release its fourth quarter 2021 earnings on February 2, 2022, post-market. A conference call to discuss these results is set for February 3, 2022, at 1:00 PM ET. The call will cover the company's current operating environment, including trends, potential developments, and other financial matters. Interested parties can access the earnings release and supplemental materials via the company's website.

AvalonBay Communities, Inc. (NYSE: AVB) has appointed Benjamin W. Schall as CEO, effective January 3, 2022. He succeeds Timothy J. Naughton, who will transition to Executive Chairman. This leadership change aligns with the company’s succession plan announced in December 2020. Schall, who joined AvalonBay in January 2021, is praised for his connection with staff and stakeholders. The company owns 293 apartment communities, containing 87,416 homes, with ongoing developments in key U.S. markets.

AvalonBay Communities, Inc. (NYSE: AVB) has completed a public offering of $400 million in senior notes due 2028, with a coupon rate of 1.900% and an effective interest rate of 2.037%. Interest payments will occur semi-annually. The net proceeds of approximately $396.2 million will finance eligible green projects or be allocated for general corporate purposes, including acquisitions and debt refinancing. This offering is part of the company's strategy to expand its portfolio of apartment communities.