AvalonBay Communities, Inc. is a real estate investment trust (a “REIT”) that focuses on the development, acquisition and management of high-quality apartment communities in high barrier-to-entry markets.
It also has holding future development rights for other communities.
The company is based in Arlington, Virginia, USA.
AvalonBay Communities has operations in the Northeast, Mid-Atlantic, Pacific Northwest, Northern California and Southern California regions of the country.
As of January 31, 2015, the company has a direct or indirect ownership interest in 252 apartment communities.
It was incorporated under the laws of the State of California in 1978 and reincorporated in the State of Maryland in June 1995.
The company has regional offices and administrative or specialty offices in: Long Island, NY; San Jose, CA; San Francisco, CA; Boston, MA; Los Angeles, CA; New York, NY; Newport Beach, CA; Woodbridge, NJ; Fairfield, CT; Virginia Beach, VA; and Seattle, WA.
AvalonBay Communities, Inc.’s is publicly listed on the New York Stock Exchange (NYSE) and under the stock ticker symbol ‘AVB’.
Overview
- President, Chairman and CEO: Timothy J. Naughton
- Industry: Real Estate
- Type: Public
- Listed on the New York Stock Exchange (NYSE)
- NYSE stock symbol: AVB
- S&P 500 Component
- Founded: 1978
- Revenue: $1.685 billion USD (2014)
- Net income: $697.327 million USD (2014)
- Diluted earnings per share: $5.21 USD (2014)
- Company head office: Ballston Tower, 671 N. Glebe Road, Suite 800 Arlington, VA 22203, USA
- Employees: 3,006 (2014)
- Website: http://www.avalonbay.com/
- Investor relations contact number: (703) 317-4681
- Investor relations email: [email protected]
AvalonBay Communities, Inc. Financial Results, Years Ended December 31
| Operating data (in $ thousands) | 2014 | 2013 |
| Total revenue | $1,685,061 | $1,462,921 |
| Total expenses | $1,250,726 | $1,394,180 |
| Income from continuing operations | $659,148 | $57,827 |
| Income from discontinued operations | $310 | $16,713 |
| Gain on sale of communities | $38,179 | $278,231 |
| Net income | $697,327 | $352,771 |
| Net income attributable to common stockholders | $683,567 | $353,141 |
| Balance sheet data (in $ thousands) | ||
| Total assets | $16,176,723 | $15,328,143 |
| Total liabilities | $7,117,553 | $7,711,096 |
| Total stockholders’ equity | $9,046,405 | $8,596,132 |
| Common share data (in $) | ||
| Basic earnings per share | $5.22 | $2.78 |
| Diluted earnings per share | $5.21 | $2.78 |
| Cash flow data (in $ thousands) | ||
| Cash provided by operating activities | $886,641 | $724,315 |
| Cash (used in) investing activities | $(816,760) | $(1,181,174) |
| Cash (used in) provided by financing activities | $158,224 | $(1,995,404) |
| Cash and cash equivalents at beginning of fiscal year | $281,541 | $2,733,618 |
| Cash and cash equivalents at end of fiscal year | $509,460 | $281,541 |
Source: “AvalonBay Communities, Inc. Form 10-K 2014”