Loading...
•
Jun 30
AvalonBay Q2 2025 Earnings Report
AvalonBay reported strong Q2 2025 results with growth in EPS, Core FFO, and Same Store Residential NOI.
Key Takeaways
AvalonBay Communities, Inc. delivered higher earnings and operational performance in Q2 2025, driven by increased residential revenue and NOI from new developments and acquisitions.
EPS rose to $1.88, up from $1.78 in Q2 2024
Core FFO per share increased to $2.82 from $2.77
Same Store Residential revenue grew to $689.1 million
20 development communities underway with 7,299 apartment homes and 69,000 sq. ft. of commercial space
AvalonBay
AvalonBay
AvalonBay Revenue by Segment
AvalonBay Revenue by Geographic Location
Revenue by Segment
Residential Revenue
CapyFin.comOther Stabilized Revenue
CapyFin.comDevelopment/Redevelopment Revenue
CapyFin.comCommercial Revenue
CapyFin.comRevenue 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.comNo. California Revenue
CapyFin.comSo. California Revenue
CapyFin.comOther Expansion Regions Revenue
CapyFin.com Forward Guidance
AvalonBay projects solid growth in Q3 and full year 2025 driven by higher NOI and stable occupancy, despite modest downward revisions to EPS and revenue outlooks.
Positive Outlook
- Q3 2025 Core FFO guidance: $2.75 – $2.85
- Full-year 2025 Core FFO guidance reaffirmed at $11.19 – $11.59
- Stable Same Store Residential NOI growth expected (2.0% – 3.4%)
- Healthy development pipeline with $2.78B capital cost
- Strong balance sheet with no borrowings under credit facility
Challenges Ahead
- Full-year EPS guidance lowered to $7.75 – $8.15 from $8.49
- Modest downtick in expected Same Store revenue growth
- Rising operating expenses projected for full year
- Reduction in NOI from new developments
- Impact from recent capital markets activity on earnings