AvalonBay Q2 Core FFO $2.86 beats guidance; suspends outlook due to proposed merger with Equity Residential

AVALONBAY COMMUNITIES INC

Q2 2026 Core FFO per share $2.86, up 1.4% YoY and above April guidance midpoint of $2.77.
EPS $1.11, down 41% YoY due to lower real estate gains and higher depreciation.
Same Store Residential NOI outlook increased; Q2 results exceeded expectations.
Company suspends EPS, FFO, and Core FFO outlook for remainder of 2026 due to proposed merger with Equity Residential.
CEO cites strong Q2 and excitement for combination with Equity Residential to create premier rental housing company.

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