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Mar 31, 2023
AvalonBay Q1 2023 Earnings Report
AvalonBay's Q1 2023 performance saw a decrease in EPS but an increase in FFO and Core FFO, driven by strong same-store revenue growth and development activities.
Key Takeaways
AvalonBay Communities, Inc. reported a decrease in Earnings per Share (EPS) but an increase in Funds from Operations (FFO) per share and Core FFO per share for the first quarter of 2023. Same Store total revenue increased, driven by residential rental revenue growth.
EPS decreased by 43.9% compared to Q1 2022.
FFO per share increased by 13.4% compared to Q1 2022.
Core FFO per share increased by 13.7% compared to Q1 2022.
Same Store total revenue increased by 9.4% compared to the prior year period.
AvalonBay
AvalonBay
AvalonBay Revenue by Geographic Location
Revenue by Geographic Location
New England Revenue
CapyFin.comMetro NY/NJ Revenue
CapyFin.comMid-Atlantic Revenue
CapyFin.comSoutheast FL Revenue
CapyFin.comDenver, CO Revenue
CapyFin.comPacific NW Revenue
CapyFin.comOther Expansion Regions Revenue
CapyFin.com Forward Guidance
The Company expects EPS to be between $2.48 and $2.58, FFO per share to be between $2.52 and $2.62, and Core FFO per share to be between $2.54 and $2.64 for the second quarter of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income