AvalonBay Communities / AVB

About AvalonBay Communities

2900 Eisenhower Ave., Suite 300, Alexandria, Va. 22314
www.avalonbay.com | 703-329-6300 | Founded: 1993

Industry: Real Estate | Category: Public Companies

In 2005, the company started a fund that has $850 million in it to purchase properties. Last year, using that fund, the company spent more than $200 million to buy a 50 percent interest in apartment buildings in New Jersey, California, Illinois and Maryland.
It also paid $35.8 million for Southgate Crossing, a complex of 215 apartments in Columbia. The company bought out its partner in a complex in Lawrenceville, N.J. And it sold four complexes and land for $281 million.
For the year, the company reported funds from operations, a common measure of profitability used by real estate investment trusts, of $330 million ($4.38 a share), up from $281 million ($3.77). Its profit dropped 14 percent, to $278.4 million ($3.57) from $322.4 million ($4.21).

Chairman and CEO: Bryce Blair

2006 Financial Data

Revenues: $737,300,000 | Net Income: $266,546,000
Asssets: $5,845,491,000 | Earnings Per Share: $3.42
Stockholder Equity: $2,573,154,000 | Annual Dividend: $3.12
Total employees: 1,767 | Local employees: 1,700