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Stock impact report

AvalonBay Communities, Inc. Provides Third Quarter 2021 Operating and Acquisition Activity Update

AvalonBay Communities, Inc. (AVB) 
Last avalonbay communities, inc. earnings: 2/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.avalonbay.com
Company Research Source: Business Wire
ARLINGTON, Va.--(BUSINESS WIRE)--AVALONBAY COMMUNITIES, INC. (NYSE: AVB) (the “Company”) announced today that for the three months ending September 30, 2021 it expects total residential rental revenue for Same Store communities to increase between 0.9% and 1.1% over the prior year period. The midpoint of this range is 180 basis points above what the Company’s expectation was for total residential rental revenue change for Same Store communities for the three months ending September 30, 2021 when the Company published its outlook on July 28, 2021. This outperformance is attributable to (i) lower-than-expected uncollectible lease revenue, due to higher-than-expected delinquent rent payments from COVID rental assistance programs(1), and (ii) better-than-expected effective lease rates and occupancy.The Company also provided the following residential operating information for Same Store communities:Average Physical Occupancy2021Q1Q2JulyAugustSeptember(2)Suburban Communities95.6%96.3%96 Show less Read more
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