10-QPeriod: Q2 FY2012

AVALONBAY COMMUNITIES INC Quarterly Report for Q2 Ended Jun 30, 2012

Filed August 3, 2012For Securities:AVB

Summary

AvalonBay Communities Inc. (AVB) filed its quarterly report for the period ending June 30, 2012. The company reported no material changes to its market risk exposures or risk factors since the end of the previous fiscal year. The filing also indicates no significant legal proceedings that are expected to materially impact the company's financial condition or operations. In terms of share repurchases, AVB's stock repurchase program remains active with $200,000,000 authorized. During June 2012, the company purchased 76,165 shares at an average price of $137.05 per share. The filing does not disclose specific financial performance metrics for the quarter, such as revenue or net income, but rather focuses on operational and disclosure-related items. Investors should refer to the company's Form 10-K for a comprehensive understanding of risks and business operations.

Financial Highlights

30 data points
Beta

Revenue

$244.70M

Net Income

$156.91M

64.1% Net Margin

EPS (Diluted)

$1.63

Total Assets

$8.41B

Cash & Equivalents

$358.26M

Free Cash Flow

$117.13M

Financial Statements
Beta
Revenue$244.70M
Operating Expenses$196.91M
Operating Income$171.28M
Net Income$156.91M
EPS (Basic)$1.64
EPS (Diluted)$1.63
Shares Outstanding (Basic)95.31M
Shares Outstanding (Diluted)95.99M

Key Highlights

  • 1No material changes in market risk exposures or risk factors since December 31, 2011.
  • 2No pending legal proceedings are expected to have a material adverse effect on the company's financial condition or results of operations.
  • 3The company has an active stock repurchase program with $200,000,000 remaining authorized.
  • 4AVB repurchased 76,165 shares in June 2012 at an average price of $137.05 per share.
  • 5The filing indicates no unregistered sales of equity securities or use of proceeds during the period.
  • 6Management has evaluated the effectiveness of disclosure controls and procedures.

Frequently Asked Questions

According to the filing, there have been no material changes to AvalonBay Communities' risk factors since December 31, 2011. Investors are advised to refer to the company's Form 10-K for a comprehensive overview of existing risks, as additional unknown or currently immaterial risks could still impact the business.

AvalonBay Communities has an ongoing stock repurchase program with a remaining authorization of $200,000,000. During June 2012, the company purchased 76,165 shares at an average price of $137.05 per share as part of this program.

The company is involved in various claims and administrative proceedings in the ordinary course of business. However, AvalonBay's management does not believe that any of these outstanding litigation matters, individually or in aggregate, will have a material adverse effect on its financial condition or results of operations.

This particular 10-Q filing from August 3, 2012, primarily focuses on controls, procedures, market risk, legal proceedings, and issuer purchases of equity securities. It does not contain detailed financial performance metrics such as revenue, net income, or earnings per share for the quarter ending June 30, 2012. Investors seeking this information should consult the company's more comprehensive financial statements, likely to be found in a subsequent Form 10-Q or 10-K filing.