AVALONBAY COMMUNITIES INC

AVB 10-Q · Q1 2026

AVB Q1 2026 request

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Income Statement

Income Statement
Metric Q1 2026 Q1 2025 YoY
Operating Lease Lease Income 768,446 744,138 +3.3%
Show Business Segments breakouts
Development/ Redevelopment · Operating Segments 18,585 7,874 +136.0%
Other Stabilized · Operating Segments 32,310 8,643 +273.8%
Same Store · Operating Segments 709,122 698,763 +1.5%
Show Statement Operating Activities Segment breakouts
Segment Continuing Operations 760,017 715,280 +6.3%
Revenue 1,833 1,742 +5.2%
Show Product Lines breakouts
Management, development and other fees and other ancillary items · Corporate Non Segment 1,833 1,742 +5.2%
Management, development and other fees and other ancillary items · Segment Continuing Operations 1,833 1,742 +5.2%
Non-lease related revenue · Development/ Redevelopment 179 46 +289.1%
Non-lease related revenue · Other Stabilized 1,556 1,366 +13.9%
Non-lease related revenue · Same Store 2,296 2,203 +4.2%
Non-lease related revenue · Segment Continuing Operations 4,031 3,615 +11.5%
Show Business Segments breakouts
Development/ Redevelopment · Operating Segments 179 46 +289.1%
Other Stabilized · Operating Segments 1,556 1,366 +13.9%
Same Store · Operating Segments 2,296 2,203 +4.2%
Show Consolidation Items breakouts
Corporate Non Segment · Segment Continuing Operations 1,833 1,742 +5.2%
Show Statement Operating Activities Segment breakouts
Segment Continuing Operations 5,864 5,357 +9.5%
Revenue 770,279 745,880 +3.3%
Show Business Segments breakouts
Development/ Redevelopment · Operating Segments 18,764 7,920 +136.9%
Other Stabilized · Operating Segments 33,866 10,009 +238.4%
Same Store · Operating Segments 711,418 700,966 +1.5%
Show Consolidation Items breakouts
Corporate Non Segment · Segment Continuing Operations 1,833 1,742 +5.2%
Show Statement Operating Activities Segment breakouts
Segment Continuing Operations 765,881 720,637 +6.3%
Cost Of Other Property Operating Expense 198,419 187,030 +6.1%
Real Estate Tax Expense 90,109 81,831 +10.1%
Show Business Segments breakouts
Same Store · Operating Segments 82,042 77,363 +6.0%
Show Statement Operating Activities Segment breakouts
Segment Continuing Operations 82,042 77,363 +6.0%
Other Non-Operating Income (Expense) 3,416 4,744 -28.0%
Interest Expense 71,489 59,864 +19.4%
Depreciation 233,104 217,888 +7.0%
General & Administrative 22,077 19,780 +11.6%
Impairment Of Real Estate 4,619
Show Liability For Catastrophe Claims By Catastrophic Event breakouts
Emergency Response 4,619,000
Total Costs & Expenses 623,233 571,137 +9.1%
Show Business Segments breakouts
Development / Redevelopment · Operating Segments 8,174 3,211 +154.6%
Other Stabilized · Operating Segments 12,843 4,174 +207.7%
Same Store · Operating Segments 225,538 215,115 +4.8%
Show Statement Operating Activities Segment breakouts
Segment Continuing Operations 246,555 222,500 +10.8%
Unconsolidated Real Estate Entities Gain Loss On Investments -6,527 -999 -553.4%
Income Loss From Structured Investment Program Interest 7,481 6,113 +22.4%
Gains Losses On Sales Of Investment Real Estate 179,912 56,469 +218.6%
Gain Loss On Sale Of Other Assets 84 155 -45.8%
Income Before Taxes 327,996 236,481 +38.7%
Income Tax Expense (Benefit) 294 116 +153.4%
Net Income 328,290 236,597 +38.8%
Show Equity Components breakouts
Noncontrolling Interest 2,560
Parent 325,730
Retained Earnings 325,730
Net Income Loss Attributable To Noncontrolling Interest -2,560
Net Income 325,730 236,597 +37.7%
EPS (Basic) 2.33 1.66 +40.4%
EPS (Diluted) 2.33 1.66 +40.4%
Operating Expenses (Q)
Show Business Segments breakouts
Development / Redevelopment · Non-Same Store Operating Expense -8,174 -3,211 -154.6%
Other Stabilized · Non-Same Store Operating Expense -12,843 -4,174 -207.7%
Same Store · Same Store Operating Expense -225,538 -215,115 -4.8%
Show Segment Operating Expenses [Axis] breakouts
Non-Same Store Operating Expense · Segment Continuing Operations -21,017 -7,385 -184.6%
Same Store Operating Expense · Segment Continuing Operations -225,538 -215,115 -4.8%
Operating Income 517,493 496,395 +4.3%
Show Business Segments breakouts
Development / Redevelopment · Operating Segments 10,590 4,709 +124.9%
Other Stabilized · Operating Segments 21,023 5,835 +260.3%
Same Store · Operating Segments 485,880 485,851 0.0%
Show Statement Operating Activities Segment breakouts
Segment Continuing Operations 517,493 496,395 +4.3%
Comprehensive Income 331,697 232,727 +42.5%
Wtd Avg Shares (Basic) 139,549,709 142,113,283 -1.8%
Wtd Avg Shares (Diluted) 140,812,786 142,486,558 -1.2%
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax 6,576 -3,597 +282.8%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 6,526 -3,597 +281.4%
Noncontrolling Interest 50
Parent 6,526 -3,597 +281.4%

Balance Sheet

Balance Sheet
Metric Q1 2026 Q1 2025 YoY
Current Assets
Cash & Cash Equivalents 121,231 53,255 +127.6%
Non-Current Assets
Total Assets 22,126,953 21,215,714 +4.3%
Operating Lease Right-of-Use Assets 118,168,000 125,762,000 -6.0%
Other Assets
Investment Building And Building Improvements 21,444,491 20,625,788 +4.0%
Real Estate Investment Property At Cost 28,029,716 26,955,689 +4.0%
Real Estate Investment Property Accumulated Depreciation -8,914,545 -8,351,624 -6.7%
Operating Real Estate Investment Property Net 19,115,171 18,604,065 +2.7%
Real Estate Investment Property Net 20,825,974 20,002,464 +4.1%
Show Pledged Status breakouts
Asset Pledged As Collateral · Notes Payable Other Payables 1,198,667,000 1,236,143,000 -3.0%
Restricted Cash And Cash Equivalents 169,863 165,852 +2.4%
Investments In Affiliates Subsidiaries Associates And Joint Ventures 193,271 226,622 -14.7%
Other Deferred Costs Net 68,765 54,454 +26.3%
Prepaid Expense And Other Assets 602,145 559,329 +7.7%
Lease Right Of Use Asset 145,704 153,738 -5.2%
Current Liabilities
Commercial Paper 770,000
Show Debt Instrument breakouts
Line Of Credit 770,000
Non-Current Liabilities
Dividends Payable Current And Noncurrent 251,694 251,378 +0.1%
Construction Payable Current And Noncurrent 107,546 82,554 +30.3%
Accrued Liabilities Current And Noncurrent 391,768 351,872 +11.3%
Interest Payable Current And Noncurrent 76,415 75,101 +1.7%
Total Liabilities 10,412,332 9,299,431 +12.0%
Long-Term Debt 9,360,218 8,303,437 +12.7%
Other Liabilities
Unsecured Debt 7,881,320 7,360,607 +7.1%
Long Term Line Of Credit And Commercial Paper 769,722 224,942 +242.2%
Secured Debt 709,176 717,888 -1.2%
Lease Liability 163,517 172,226 -5.1%
Security Deposit Liability 61,174 62,863 -2.7%
Stockholders' Equity
Common Stock 1,391 1,423 -2.2%
Additional Paid-In Capital 11,117,451 11,307,940 -1.7%
Retained Earnings 339,630 576,486 -41.1%
Accumulated Other Comprehensive Income 32,453 30,434 +6.6%
Total Stockholders' Equity 11,490,925
Minority Interest 223,696
Stockholders Equity Including Portion Attributable To Noncontrolling Interest 11,714,621 11,916,283 -1.7%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 32,453 30,434 +6.6%
Additional Paid In Capital 11,117,451 11,307,940 -1.7%
Common Stock 1,391 1,423 -2.2%
Noncontrolling Interest 223,696
Parent 11,490,925 11,916,283 -3.6%
Retained Earnings 339,630 576,486 -41.1%
Total Liabilities & Equity 22,126,953 21,215,714 +4.3%
Land And Land Improvements 4,989,148 4,903,886 +1.7%
Fixtures And Equipment Gross 1,596,077 1,426,015 +11.9%
Construction In Progress Gross 1,575,669 1,198,280 +31.5%
Land Available For Development 135,134 141,978 -4.8%

Cash Flow Statement

Cash Flow Statement
Metric YTD Q1 2026 YTD Q1 2025 YoY
Operating Activities
Amortization Of Financing Costs And Discounts 3,634 3,233 +12.4%
Stock-Based Compensation 5,699 5,662 +0.7%
Gain Loss Unconsolidated Real Estate Entities Net Of Dividends Or Distributions 9,851 3,093 +218.5%
Casualty Gain And Impairment Loss Net Operating Activities 2,007
Noncash Project Abandonment Costs 3,416 4,744 -28.0%
Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net -388 -273 -42.1%
Gain Loss On Sale Of Properties -179,996 -56,660 -217.7%
Increase Decrease In Accrued Interest Receivable Net -7,186 -5,806 -23.8%
Change in Prepaid & Other Assets 13,111 -3,157 +515.3%
Increase Decrease In Accrued Liabilities 7,391 10,582 -30.2%
Net Cash from Operations 418,933 415,903 +0.7%
Investing Activities
Payments To Develop Real Estate Assets -336,820 -237,282 -41.9%
Payments For Capital Improvements -59,453 -48,370 -22.9%
Payments For Capital Improvements Non Real Estate -514 -256 -100.8%
Proceeds From Payments To Construction Payables 15,279 -3,400 +549.4%
Proceeds From Sale Of Real Estate Heldforinvestment 330,378 63,651 +419.0%
Payments To Acquire Notes Receivable -11,999 -12,560 +4.5%
Proceeds From Collection Of Notes Receivable 17,580 109 +16028.4%
Distributions From Equity Method Investees 180
Payments To Acquire Businesses And Interest In Affiliates -3,611 -2,395 -50.8%
Net Cash from Investing -48,980 -427,865 +88.6%
Financing Activities
Share Repurchases -198,480
Payments Of Ordinary Dividends -249,300 -243,678 -2.3%
Proceeds From Repayments Of Long Term Line Of Credit And Commercial Paper 30,114 224,942 -86.6%
Repayments Of Notes Payable -982 -1,171 +16.1%
Payments Of Financing Costs -224
Tax Withholding for Share Compensation -13,070 -16,353 +20.1%
Net Cash from Financing -431,942 -36,007 -1099.6%
Supplemental
Interest Paid 60,407 40,160 +50.4%
Other Cash Flow
Net Change in Cash -61,989 -47,969 -29.2%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 291,094 219,107 +32.9%

Values in thousands USD. Source: SEC EDGAR 10-Q filing.

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