Dragon Claws Co-produced by Austin Rogers If you knew nothing about real estate investment trusts ("REITs") except their stock prices, you would assume they are bad businesses in a bad industry. Since interest rates and bond yields began trending higher in early 2022, REITs (VNQ) have underperformed the S&P 500 (SPY) on a price basis by about 36%. Data by YCharts Given how top-heavy the SPY has become, with mega-cap stocks dominating the index weighting and overall market performance, it isn't surprisin ...

edb3_16AvalonBay Communities (NYSE:AVB) is shifting toward more suburban and sunbelt areas. Overall, AVB’s performance for the quarter looks positive. AvalonBay Communities Projected growth in FFO per share was 1.4%. That may be revised up slightly based on more recent commentary. Revenue growth is coming in slightly higher than projected due to better occupancy and smaller losses on uncollectible lease revenue (deadbeats). Better occupancy encouraged AVB to seek higher leasing spreads. AVB indicated th ...

scanrail/iStock via Getty Images One of the most important jobs of REIT executives and Boards of Directors is capital allocation. Depending on cost of capital, acquisition and development yields, and the point in the real estate cycle, a public REIT will have to employ different capital allocation strategies. One of the forgotten and often purposely swept-under-the-rug line items is maintenance capital expenditures. In both residential and commercial Real Estate, maintenance capital expenditures (or 'capex' ...

domin_domin/E+ via Getty ImagesIt's no secret that I'm very bullish on REITs and other commercial real estate stocks. I regularly write articles on my favorite REIT investment opportunities and some of you would probably describe me as a "REIT cheerleader." But I am still objective enough to recognize that it's not all sunshine and rainbows in the REIT world. On the contrary, many sub-sectors of the commercial real estate/CRE market are today facing significant challenges, and this could lead some REITs ...

Shares of AvalonBay Communities (AVB) were up 3.95% during Monday’s regular trading session after this residential REIT’s last Friday’s announcement of a projected outperformance of its first-quarter same-store residential revenue growth on better-than-expected occupancy and lower-than-expected uncollectible lease revenues.Specifically, AvalonBay now expects its same-store residential revenues for the first quarter to increase 3.7%-3.8% over the prior-year period. This range at the midpoint is roughly 45 ba ...

U.Ozel.Images/iStock via Getty ImagesDear readers, A couple days ago I downgraded a Sunbelt apartment REIT Mid-America Apartment Communities (MAA) to a HOLD, because of severe expected oversupply in the region which is already pressuring occupancy and rents. I argued against investing even at an elevated 7.2% implied cap rate, because I expected rents to drop sharply over the next two years. And while rents will eventually rebound as supply plummets post-2025 and the excess supply gets absorbed, this wo ...

ARLINGTON, Va.--(BUSINESS WIRE)--AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the “Company”) announced today that Benjamin W. Schall, the Company’s CEO and President, and select members of the Company’s management team will be participating in a roundtable discussion at the 2024 Citi Global Property CEO Conference on Monday, March 4, 2024, at 11:00 A.M. Eastern Time. During this event, management may discuss the Company's current operating environment and trends; development, redevelopment, disposition and acqu ...

With the Dow Jones closing at a fresh record recently, targeting defensive stocks might seem like overkill. You want to be careful in the capital market, no doubt about it. But you also don’t want to fall prey to opportunity costs – the what-could-have-been questions.Nevertheless, it’s important to stay in the race if you want to stand any chance of winning it. While many signs of positive roads ahead exist, they’re also accompanied by clear warnings. For example, last year, the regional banking crisis init ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission file number: 1-12672 AVALONBAY COMMUNITIES, INC. (Exact name of registrant as specified in its charter) Maryland 77-0404318 (State or other jurisd ...

ARLINGTON, Va.--(BUSINESS WIRE)--AvalonBay Communities, Inc. (the “Company”) (NYSE: AVB) announced today that its 2024 Annual Meeting of Stockholders will be held on Thursday, May 16, 2024, at 10:00 A.M. Eastern Time. Stockholders of record of the Company’s Common Stock as of the close of business on March 18, 2024 are entitled to vote at and virtually attend the Annual Meeting. The meeting will be held in a virtual meeting format via audio webcast only. Stockholders will not be able to attend the Annual Me ...