Valued at a market cap of $26.7 billion, Maryland-based AvalonBay Communities, Inc. (AVB) is a real estate investment trust primarily focusing on developing, redeveloping, acquiring, owning, and operating multi-family apartment communities for higher-income clients in high-barrier-to-entry regions of the United States.
The company is expected to release its Q2 2026 earnings on Wednesday, July 22, after the market closes. Ahead of the event, analysts expect the company’s FFO to be $2.80 on a diluted basis, down marginally from $2.82 in the year-ago quarter. The company has exceeded Wall Street’s FFO estimates in three of its last four quarters, while missing on one occasion.
For fiscal 2026, analysts project the company’s FFO to be $11.28, up marginally from $11.24 in fiscal 2025. Moreover, its FFO is expected to rise by roughly 3.6% year over year (YoY) to $11.68 in fiscal 2027.
AVB stock has declined 3.4% over the past 52 weeks, lagging behind the S&P 500 Index’s ($SPX) 20.7% rise and the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 7.7% rise during the same time frame.
On Apr. 28, AVB stock rose 1.1% following the release of its Q1 2026 earnings. The company’s revenue for the quarter amounted to $770.3 million and failed to surpass the Street’s estimates. Moreover, its AFFO per share for the period came in at $2.33, also falling short of Wall Street’s forecasts. For the current quarter ending in June, AvalonBay expects its per-share funds from operations to range from $2.72 to $2.82.
Analysts are somewhat optimistic on AVB, with the stock currently rated “Moderate Buy” overall. Among the 14 analysts covering the stock, five recommend a “Strong Buy,” and 15 recommend a “Hold.” AVB’s average analyst price target is $196.26, implying marginal upside from current levels.
