Key Developments: AvalonBay Communities Inc (AVB)
138.99USD
23 May 2013
$0.43 (+0.31%)
$138.56
$137.00
$138.99
$136.09
5,081,251
919,119
$151.23
$123.04
Latest Key Developments (Source: Significant Developments)
AvalonBay Communities Inc Announces Secondary Offering By Affiliate Of Lehman Brothers Holding Inc.
AvalonBay Communities Inc announced an underwritten at-the-market secondary public offering of 7,870,000 shares of its common stock by Jupiter Enterprise LP, an indirect subsidiary of Lehman Brothers Holding Inc. (the Selling Stockholder). An aggregate amount of 14,889,706 shares of the Company`s common stock were issued to the Selling Stockholder in connection with the Company`s acquisition of a portion of the Archstone apartment community portfolio in February 2013. The Selling Stockholder will receive all of the proceeds from this offering. The total number of outstanding shares of the Company`s common stock will not change as a result of the offering. No shares are being sold by the Company or any of its officers or directors in the offering. Full Article
AvalonBay Communities Inc Declares Second Quarter 2013 Dividends
AvalonBay Communities Inc announced that Board of Directors declared a cash dividend on the Company's Common Stock (par value $0.01 per share) for the second quarter of 2013. The Common Stock dividend is $1.07 per share and is payable July 15, 2013 to all Common Stockholders of Record as of June 28, 2013. Full Article
AvalonBay Communities Inc Raises FY 2013 FFO Guidance; Issues Q2 2013 FFO Guidance Below Analysts' Estimates
AvalonBay Communities Inc announced that for fiscal 2013, it expects EPS to be within a range of $1.37 to $1.67 and fund from operation (FFO) per share to be in the range of $4.98 to $5.28. For the second quarter of 2013, it expects loss per share, diluted within a range of $0.04 to $0.08 and fund from operation (FFO) per share to be a loss within a range of $1.49 to $1.53. According to I/B/E/S Estimates, analysts are expecting the Company to report FFO of $4.35 for fiscal 2013; FFO of $1.56 for second quarter of 2013. Full Article
AvalonBay Communities Inc Appoints Timothy J. Naughton As Chairman
AvalonBay Communities Inc announced that its Board of Directors has appointed Timothy J. Naughton, the Company`s Chief Executive Officer, to serve in the additional capacity as Chairman of the Board, effective upon Mr. Naughton`s re-election to the Board at the Annual Meeting. Full Article
AvalonBay Communities Inc Revises Record Date For First Quarter 2013 Dividend
AvalonBay Communities Inc announced that previously declared a dividend for the first quarter of 2013 of $1.07 per share, a 10.3% increase over the Company`s prior quarterly dividend, payable on April 15, 2013. Because the New York Stock Exchange will be closed on March 29, 2013, the record date previously announced for the dividend, the Company`s Board of Directors has revised the record date for payment of such dividend to March 28, 2013. Full Article
AvalonBay Communities Inc Declares Dividend
AvalonBay Communities Inc announced that the Company's Board of Directors declared a dividend for the first quarter of 2013 of $1.07 per share of the Company's common stock (par value of $0.01 per share). The declared dividend is a 10.3% increase over the Company's prior quarterly dividend of $0.97 per share. The dividend is payable on April 15, 2013 to common stockholders of record as of March 29, 2013. Full Article
AvalonBay Communities Inc Issues Q1, FY 2013 FFO Guidance
AvalonBay Communities Inc announced that for fiscal 2013, it expects EPS to be within a range of $2.28 to $2.64 and fund from operation (FFO) per share to be in the range of $4.11 to $4.47. For the first quarter of 2013, it expects loss per share, diluted within a range of $1.31 to $1.27 and fund from operation (FFO) per share to be a loss within a range of $0.66 to $0.62. Full Article
AvalonBay Communities Inc Prices $250 Million Unsecured Notes Offering
AvalonBay Communities Inc announced that it priced a $250 million offering of unsecured notes with a maturity of 2023 under its existing shelf registration statement. Interest on the notes will be paid semi-annually on March 15 and September 15, with the first payment to be made on March 15, 2013, with interest from the settlement date. Settlement is scheduled for December 14, 2012. The Company expects to use the net proceeds from the offering of approximately $246,425,000 million net of underwriting fees and estimated expenses for general corporate purposes, which may include the repayment of a portion of the debt that the Company expects to assume in connection with its previously announced pending acquisition of certain assets of Archstone Enterprise LP (the “Archstone Acquisition”), or to repay a portion of its current outstanding secured indebtedness. The offering is being made pursuant to an automatic shelf registration statement that became effective upon filing with the Securities and Exchange Commission on February 27, 2012. Goldman, Sachs & Co., Barclays, BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers for the offering. BNY Mellon Capital Markets, LLC, PNC Capital Markets LLC and SunTrust Robinson Humphrey acted as co-managers for the offering. Full Article
AvalonBay Communities Inc Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares
AvalonBay Communities Inc announced that the underwriters of its public offering of 14,500,000 shares of common stock have exercised in full their option to purchase an additional 2,175,000 shares. All shares sold in the offering are being sold at a price of $130.00 per share. Settlement of the sale of all shares in the offering will occur on December 5, 2012. The offering is being made pursuant to an automatic shelf registration statement that became effective upon filing with the Securities and Exchange Commission on February 27, 2012. Goldman, Sachs & Co., Barclays, BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers for the offering. BNY Mellon Capital Markets, LLC, PNC Capital Markets LLC and SunTrust Robinson Humphrey acted as co-managers for the offering. Full Article
AvalonBay Communities Inc Prices Common Stock Offering
AvalonBay Communities Inc announced the pricing of a public offering of 14,500,000 shares of common stock at $130.00. The Company has also granted the underwriters a 30-day option to purchase up to an additional 2,175,000 shares. Settlement of the sale will occur on December 5, 2012. The Company expects to use the net proceeds from the offering of approximately $1.8 billion net of underwriting fees and estimated expenses to repay a portion of the debt that the Company will assume in connection with its previously announced pending acquisition of certain assets of Archstone Enterprise LP (the “Archstone Acquisition”), to fund the cash consideration due in connection with the Archstone Acquisition, and to fund the fees, costs and expenses related thereto. If the Archstone Acquisition does not occur, the Company intends to use the net proceeds from the offering for general corporate purposes. The offering is being made pursuant to an automatic shelf registration statement that became effective upon filing with the Securities and Exchange Commission on February 27, 2012. Goldman, Sachs & Co., Barclays, BofA Merrill Lynch, Deutsche Bank Securities, J.P. Morgan, UBS Investment Bank and Wells Fargo Securities acted as joint book-running managers for the offering. BNY Mellon Capital Markets, LLC, PNC Capital Markets LLC and SunTrust Robinson Humphrey acted as co-managers for the offering. Full Article
Landlord AvalonBay posts higher-than-expected FFO
NEW YORK - Apartment landlord AvalonBay Communities Inc reported a 23.7 percent decrease in a key earnings performance measure in the first quarter, mostly related to its acquisition of 40 percent of former rival Archstone from Lehman Brothers.
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