Q1 25 EPS
$1.66
BEAT +22.29%
Est. $1.36
Q1 25 Revenue
$745.9M
BEAT +0.25%
Est. $744.0M
vs S&P Since Q1 25
-39.7%
TRAILING MARKET
AVB -10.7% vs S&P +29.0%
Market Reaction
Did AVB Beat Earnings? Q1 2025 Results
AvalonBay Communities delivered a standout first quarter, posting GAAP earnings per share of $1.66 against a consensus estimate of $1.36, a beat of 22.29%, while revenue climbed 4.6% year-over-year to $745.88 million, edging past the $744.01 million … Read more AvalonBay Communities delivered a standout first quarter, posting GAAP earnings per share of $1.66 against a consensus estimate of $1.36, a beat of 22.29%, while revenue climbed 4.6% year-over-year to $745.88 million, edging past the $744.01 million consensus by 0.25%. The headline EPS figure was meaningfully lifted by a $56.48 million gain on the sale of Avalon Wilton on River Road in Connecticut, which also completed the company's full exit from that market. Beneath the one-time item, Core FFO per share of $2.83 grew 4.8% year-over-year, with same-store residential revenue advancing 3.0% and economic occupancy holding firm at 96.0%. The company continued reshaping its portfolio aggressively, closing on two Austin-area communities for $187.00 million during the quarter and adding six Dallas-Fort Worth communities for $431.50 million shortly after. With a $2.49 billion development pipeline and a reinforced balance sheet featuring a new $450.00 million term loan and an expanded $2.50 billion credit facility, AvalonBay reaffirmed its full-year 2025 outlook and guided Q2 Core FFO per share to $2.72 to $2.82.
Key Takeaways
- • Same Store Residential revenue growth of 3.0% driven by 2.9% average monthly revenue per occupied home increase and improved occupancy
- • Same Store Residential NOI growth of 2.6% to $478,316,000
- • Northern Virginia led regional revenue growth at 6.9% year-over-year
- • Mid-Atlantic region posted strongest Same Store NOI growth
- • Development and Other NOI contributed $0.10 per share increase year-over-year
- • Gain on sale of Avalon Wilton on River Road contributed $56,469,000
- • Same Store turnover improved to 31.4% from 34.3% in prior year
- • Like-Term Effective Rent Change accelerated to 2.3% in April from 1.7% in Q1
AVB YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
AVB Revenue by Segment
With YoY comparisons, source: SEC Filings
AVB Revenue by Geography
With YoY comparisons, source: SEC Filings
AVB Earnings Trends
AVB vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AVB EPS Trend
Earnings per share: estimate vs actual
AVB Revenue Trend
Quarterly revenue: estimate vs actual
AVB Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 | — | $2.33 | — | $770.3M | +0.40% |
| Q4 25 MISS FY | $1.28 | $1.17 | -8.59% | $767.9M | +0.70% |
| FY Full Year | $4.84 | $7.40 | +53.05% | $3.04B | +0.24% |
| Q3 25 BEAT | $1.49 | $2.68 | +79.67% | $766.8M | -0.20% |
| Q2 25 BEAT | $1.30 | $1.88 | +44.60% | $760.2M | +0.26% |
| Q1 25 BEAT | $1.36 | $1.66 | +22.29% | $745.9M | +0.25% |