AvalonBay Communities

Q2 FY2026 EarningsAVB reported Q2 FY26 results with total revenue of $777.8M, slightly beating the consensus mean of $772.9M. Diluted GAAP EPS of $1.11 missed the consensus mean of $1.23, largely due to $12.4M in one-time transaction costs related to the pending merger with Equity Residential. Same Store Residential NOI grew 1.0% YoY, while newly stabilized and development communities contributed significant NOI growth. The strategic highlight remains the definitive merger agreement with Equity Residential, expected to close in H2 2026.