Arlington, Virginia-based AvalonBay Communities, Inc. (AVB) is a real estate investment trust focused on developing, acquiring, owning, and operating multi-family apartment communities. With a market cap of $31.5 billion, AvalonBay operates in high-barrier-to-entry markets like the New York metro area, New England, Southern California, and more.
Shares of the REIT have underperformed the broader market over the past year. Despite rallying 22.7% over the past 52 weeks, AVB lagged behind the S&P 500 Index’s ($SPX) 27% returns during the same time frame. However, in 2024, AVB is up 18.4%, slightly outperforming SPX’s 18.1% gains on a YTD basis.
