AvalonBay Communities Raises Dividend 1.7%, Reports 2025 Results

AvalonBay Communities Reports 2025 Financial Results

AvalonBay Communities announced its 2025 operating results, reporting Core Funds from Operations (FFO) per share of $11.24 for the full year, representing a 2.1% increase compared to $11.01 in 2024. The Arlington, Virginia-based multifamily real estate investment trust also declared a 1.7% dividend increase.

For the fourth quarter of 2025, AvalonBay Communities reported Core FFO per share of $2.85, up 1.8% from $2.80 in the same period of 2024. Earnings per share (EPS) for the full year 2025 totaled $7.40, down 2.6% from $7.60 in 2024, while FFO per share increased 3.8% to $11.40 from $10.98.

Operational Performance

The development and other net operating income (NOI) contributed $0.05 per share to Core FFO growth in the fourth quarter compared to the prior year period.

AvalonBay Communities' same-store residential NOI increased by $0.04 per share in the fourth quarter of 2025 compared to the same period in 2024, driven by revenue growth of $0.08 offset by operating expense increases of $0.04.

Capital Activity

In terms of capital markets and transaction activity, this segment had a negative impact of $0.04 per share on EPS and FFO in the fourth quarter of 2025 compared to the prior year period. The company also reported a negative impact of $0.01 per share from unconsolidated investment income in the fourth quarter.

When comparing Q4 2025 results to the October 2025 outlook, same-store residential NOI came in $0.01 per share below projections due to unfavorable revenue performance.

Dividend Increase

The company announced a 1.7% dividend increase. The specific dividend amount per share, payment date, and record date were not disclosed in the provided source material.

Non-core items contributed $0.13 per share to both EPS and FFO in the fourth quarter of 2025. Real estate gains, net, depreciation expense and other items resulted in a negative $0.98 per share impact on EPS in Q4 2025 compared to Q4 2024, though these items do not affect FFO or Core FFO calculations.