AvalonBay Communities, Inc. (AVB): New Analyst Report from Zacks Equity Research - Zacks Equity Research Report


Aided by growth in rental rates, AvalonBay's second-quarter 2014 FFO came in 3% ahead of the Zacks Consensus Estimate and rose 10.3% from the prior-year quarter figure. Improved performance of its newly developed and acquired communities has helped this residential REIT to post encouraging quarterly results. Going forward, improving economy, job growth, rising consumer confidence and favorable demographics along its markets keep us optimistic about the company's growth prospects. Particularly, the West Coast is witnessing improved fundamentals and healthier growth. Yet, completion of a number of projects in the Metro DC area and modest job growth keeps the fundamentals of this market challenged. Therefore, we retain our Neutral recommendation on the stock.


AvalonBay Communities, Inc. is a real estate investment trust (REIT) primarily focusing on developing multifamily apartment communities for higher-income clients in high barrier-to-entry regions of the U.S. These markets include the New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the U.S., typically characterized by dense population, low supply of zoned apartment land, and lengthy, contentious entitlement processes. The company has a principal executive office in Arlington, VA, and a number of regional offices, administrative offices or specialty offices in its markets.

As of Jun 30, 2014, AvalonBay owned or held a direct or indirect ownership stake in 275 apartment communities. These communities included 82,348 apartment homes in 11 states and the District of Columbia. Of the total communities, 32 were under construction and 6 under redevelopment as of that date.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

This article appears in: Investing , Stocks

Referenced Stocks: AVB



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