AvalonBay Communities, Inc. (AVB)
Real Estate · NYQ · US
Fundamentals
Valuation and ratings
AvalonBay Communities, Inc. trades at USD195.50, which is 58% below the USD308.39 our discounted cash flow model puts on the business. On that measure alone it screens as undervalued, though a DCF is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 73 out of 100, which is a wide moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 23.8 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
About AvalonBay Communities, Inc.
AvalonBay Communities, Inc., a member of S&P 500, is an equity REIT. The firm develops, redevelops, acquires and manages apartment communities in leading metropolitan areas in Boston, Massachusetts, the New York/New Jersey Metro area, the Mid-Atlantic, Seattle, Washington, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado. As of March 31, 2026, the Company owned or held a direct or indirect ownership interest in 319 apartment communities containing 98,271 apartment homes in 11 states and the District of Columbia, of which 25 communities were under development and one community was under redevelopment. AvalonBay Communities, Inc. was incorporated in 1978 in Maryland and is based in Arlington, Virginia.
AVB passes 6 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Smart money ownership
12 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Ken Griffin, CITADEL ADVISORS LLC$238.32M · 0.0% of book
- Israel Englander, MILLENNIUM MANAGEMENT LLC$68.49M · 0.0% of book
- Steve Cohen, Point72 Asset Management, L.P.$48.44M · 0.1% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$31.01M · 0.0% of book
- Joel Greenblatt, Gotham Asset Management, LLC$23.55M · 0.1% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
Common questions
Is AvalonBay Communities, Inc. (AVB) undervalued?
Against our discounted cash flow estimate of USD308.39, AVB at USD195.50 is 58% below fair value. That is one model's answer, not a recommendation, and most of a DCF's output sits in a terminal value nobody can forecast.
Which funds own AVB?
12 of the institutions we track reported a position in AVB in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is AVB's P/E ratio?
AVB trades at 23.8 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
The full research page for AVB, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.