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Sep 30, 2022
AvalonBay Q3 2022 Earnings Report
AvalonBay's Q3 2022 performance was marked by a significant surge in net income and EPS, driven by gains from real estate sales and strong Same Store Residential NOI growth.
Key Takeaways
AvalonBay Communities, Inc. reported a substantial increase in net income attributable to common stockholders for the three months ended September 30, 2022, reaching $494,747,000. This resulted in a significant rise in earnings per share (EPS) to $3.53, driven by gains on sales of real estate and increased Same Store Residential NOI.
Net Income Attributable to Common Stockholders increased to $494,747,000 for the quarter.
Earnings per Share (EPS) rose to $3.53, a 530.4% increase year-over-year.
Funds from Operations (FFO) per share increased to $2.46, a 25.5% increase year-over-year.
Core FFO per share increased to $2.50, a 21.4% increase year-over-year.
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.com Forward Guidance
For its fourth quarter and full year 2022 financial outlook, the Company expects the following:
Positive Outlook
- Projected EPS between $1.70 and $1.80 for Q4 2022
- Projected FFO per share between $2.52 and $2.62 for Q4 2022
- Projected Core FFO per share between $2.55 and $2.65 for Q4 2022
- Projected EPS between $8.10 and $8.20 for Full Year 2022
- Projected Core FFO per share between $9.74 and $9.84 for Full Year 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income