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Companies / Real Estate / AvalonBay Communities
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AvalonBay Communities

Real EstateREITsDeregistered 2026-08-27S&P 500
Ticker —ARLINGTON, VAFiscal year ends DecemberBook value per share $85.07Diluted shares 141.3M

AvalonBay Communities, Inc. develops, redevelops, acquires, owns and operates apartment communities in major U.S. metropolitan areas, serving renters across upscale, urban, value-oriented and moderate-price housing segments. Its portfolio spans New England, the New York/New Jersey metro area, the Mid-Atlantic, the… From the company’s description.

In fiscal 2025, AvalonBay Communities reported revenue of $3.04B, up 4.4% from fiscal 2024, and net income of $1.06B. Its operating margin was 30.2%, and operations generated $1.67B in cash. Over the twelve months to Jun 30, 2026, revenue was $3.08B.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$3.04BFY2025
+4.4% year over year
Last 12 mo $3.08B
30.21%FY2025
−1.1 percentage points
Last 12 mo 29.36%
$1.06BFY2025
−2.4% year over year
Last 12 mo $1.04B
9.07%FY2025
No change, year over year
Last 12 mo 8.55%
Cash & financing
$1.67BFY2025
+3.9% year over year
Last 12 mo $1.66B
$1.41BFY2025
−0.3% year over year
Last 12 mo $1.37B
0.81FY2025
Was 0.68× a year earlier
Last 12 mo 0.75
142.8MFY2025
+0.3% year over year
Last 12 mo 141.3M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What AvalonBay Communities does

In the company’s own words

AvalonBay Communities, Inc. develops, redevelops, acquires, owns and operates apartment communities in major U.S. metropolitan areas, serving renters across upscale, urban, value-oriented and moderate-price housing segments. Its portfolio spans New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest and Northern and Southern California, as well as expansion markets in North Carolina, Southeast Florida, Texas and Colorado. The company manages communities under four brands: Avalon, AVA, eaves by Avalon and Kanso. Its activities also include mezzanine lending and preferred equity investments for third-party apartment developers through its Structured Investment Program, along with selected commercial-space and real-estate-related investments. AvalonBay is organized around a single apartment-community business rather than reportable business segments. At January 31, 2026, it owned or held interests in 292 operating communities with 88,768 apartment homes, and had 27 wholly owned communities under construction or in lease-up. Its website is www.avalonbay.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
ARLINGTON, VA
Fiscal year end
December
CIK
915912
SIC
6798

Financial performance, year by year

Fiscal 2013–2025 · USD
$-308.27M$616.54M$1.54B$2.47B$3.39B2013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns AvalonBay Communities — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

617
funds hold it
0 of 35
superinvestors hold it
$10.27B
held by funds, at market
17
bond issues held by funds

Largest fund holders · AvalonBay Communities’s weight in each

VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.04%of fund net assets
VANGUARD 500 INDEX FUND
VOO · VANGUARD INDEX FUNDS
0.04%of fund net assets
VANGUARD MID-CAP INDEX FUND
VO · VANGUARD INDEX FUNDS
0.25%of fund net assets
iShares Core S&P 500 ETF
IVV · iShares Trust
0.04%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

AvalonBay Communities’s bonds, as funds hold them

Funds report holding 17 issues of AvalonBay Communities’s debt, $793.89M at market value — what funds hold, not the company’s total debt. Weighted-average coupon 3.74%, maturing 2026 to 2048.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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  • “How do AvalonBay Communities and its peers compare on margins and cash generation over ten years?”
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