Key Developments: AvalonBay Communities Inc (AVB)

AVB on New York Consolidated

180.27USD
26 Jan 2015
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Latest Key Developments (Source: Significant Developments)

AvalonBay Communities Inc commences $350 mln unsecured notes offering
Thursday, 5 Dec 2013 09:12am EST 

AvalonBay Communities Inc:Says it has commenced a $350 million offering of unsecured notes under its existing shelf registration statement.Says it expects to use a portion of the net proceeds to repay three currently outstanding secured debt financings having an aggregate outstanding balance of about $302.0 million owed to Fannie Mae and to incur prepayment penalties of about $14.9 million.Says the company expects to use the balance of the net proceeds for general corporate purposes, which may include the acquisition, development and redevelopment of apartment communities and repayment and refinancing of other indebtedness.Says the offering is being made pursuant to an automatic shelf registration statement that became effective upon filing with the Securities and Exchange Commission on Feb. 27, 2012.Says J.P. Morgan Securities LLC, Barclays Capital Inc and BofA Merrill Lynch are acting as lead representatives of the agents for the Notes offering.  Full Article

AvalonBay Communities Inc Announces May 2014 Retirement Of Thomas J. Sargeant As Chief Financial Officer
Wednesday, 20 Nov 2013 04:05pm EST 

AvalonBay Communities Inc announced that Thomas J. Sargeant, the Company`s Chief Financial Officer, announced his plans to retire from the Company effective May 31, 2014. The Company also announced that its Board has appointed Kevin P. O`Shea, the Company's Executive Vice President of Capital Markets, to succeed Mr. Sargeant as Chief Financial Officer, effective upon Mr. Sargeant`s retirement.  Full Article

AvalonBay Communities Inc Declares Fourth Quarter 2013 Dividends
Wednesday, 20 Nov 2013 04:01pm EST 

AvalonBay Communities Inc announced that its Board of Directors declared a cash dividend on the Company's Common Stock (par value $0.01 per share) for the fourth quarter of 2013. The Common Stock dividend is $1.07 per share and is payable January 15, 2014 to all Common Stockholders of Record as of December 31, 2013.  Full Article

AvalonBay Communities Inc Issues Q4 2013 Guidnace; FFO Guidance Below Analysts' Estimates; Lowers FY 2013 Guidance
Wednesday, 23 Oct 2013 04:16pm EDT 

AvalonBay Communities Inc announced that for the fourth quarter of 2013, it expects earning per share (EPS) in the range of $1.96 to $2.02, Projected FFO per share in the range of $1.54 to $1.60. For Fiscal 2013 it expects EPS to be in the range of $2.79 to $2.85, Projected FFO per share to be in the range of $5.09 to $5.15. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $1.64 for the fourth quarter of 2013; FFO per share of $5.17 for fiscal 2013.  Full Article

AvalonBay Communities Inc Prices $400 Million Unsecured Notes Offering
Monday, 16 Sep 2013 05:57pm EDT 

AvalonBay Communities Inc announced that it priced a $400 million offering of unsecured notes with a maturity of 2020 under its existing shelf registration statement. Maturity Date is October 1, 2020, Issue Price is 99.728%, Coupon Rate is 3.625% and Yield to Investors is 3.669%. Interest on the notes will be paid semi-annually on April 1 and October 1, with the first payment to be made on April 1, 2014. Settlement is scheduled for September 20, 2013. The Company expects to use the net proceeds from the offering of approximately $396.2 million after estimated issuance costs, to reduce indebtedness outstanding under the Company`s $1.3 billion unsecured revolving credit facility and for general corporate purposes, which may include the acquisition, development and redevelopment of apartment communities and repayment and refinancing of other 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. Deutsche Bank, Morgan Stanley and UBS Investment Bank acted as lead representatives of the agents for the notes offering.  Full Article

AvalonBay Communities Inc Declares Third Quarter 2013 Dividends
Tuesday, 10 Sep 2013 04:00pm EDT 

AvalonBay Communities Inc announced that its Board of Directors declared a cash dividend on the Company's Common Stock (par value $0.01 per share) for the third quarter of 2013. The Common Stock dividend is $1.07 per share and is payable October 15, 2013 to all Common Stockholders of Record as of September 30, 2013.  Full Article

AvalonBay Communities Inc Raises FY 2013 FFO And Same-Store Revenues Guidance; Issues Q3 2013 FFO Guidance Above Analysts' Estimates-Conference Call
Thursday, 25 Jul 2013 01:00pm EDT 

AvalonBay Communities Inc announced that it has revised its outlook for fiscal 2013. The Company now expect fiscal 2013 same-store revenues to increase by 4.25% to 5%, or an increase of approximately 40 basis points at the midpoint. The Company expect fiscal 2013 adjusted FFO to be $6.20 to $6.40 per share, an increase of $0.15 per share above its initial outlook at the midpoint. About two-thirds of this increase is attributable to better than projected portfolio performance, and most of the remainder of the results have projected savings in overhead and other operating costs. The Company also announced that it expects its third-quarter 2013 adjusted FFO within a range of $1.60 to $1.66 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report FFO per share of $5.21 for fiscal 2013 and FFO per share of $1.46 for the third quarter of 2013.  Full Article

AvalonBay Communities Inc Announces Secondary Offering By Affiliate Of Lehman Brothers Holding Inc.
Wednesday, 22 May 2013 05:27pm EDT 

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
Wednesday, 22 May 2013 04:01pm EDT 

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
Tuesday, 30 Apr 2013 04:10pm EDT 

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

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