AvalonBay reports Q2 2026 results, raises same-store outlook, suspends full-year guidance

Filed July 23, 2026 · Period ending July 22, 2026 · ~2 min read

Key Changes

• high

  AvalonBay and Equity Residential announced all-stock merger of equals on May 21, 2026, creating combined company with ~$53B equity market cap, ~$71B enterprise value, and 180,000+ apartments; stockholder vote scheduled Aug 12, 2026

  Exhibit 99.1 view on EDGAR →
• high

  Q2 2026 Core FFO per share rose 1.4% YoY to $2.86, beating April outlook midpoint of $2.77 by $0.09; EPS fell 41.0% to $1.11 on lower real estate gains and higher transaction costs

  Exhibit 99.1 view on EDGAR →
• high

  Same-store residential NOI grew 1.0% YoY to $488.6M on 1.6% revenue growth; company raised full-year same-store NOI outlook range to 0% to 1.4% from prior -0.7% to 1.3%

  Exhibit 99.1 view on EDGAR →