Subtext

AvalonBay Communities, Inc. AVB

SectorReal Estate
Transcripts67
Date range2008-02-07 – 2025-05-01
Calls charted67

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-10-5+0+5+102007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22007 Q4 · Overall: -6.32008 Q1 · Overall: -1.72008 Q2 · Overall: -1.92008 Q3 · Overall: -3.62008 Q4 · Overall: -8.82009 Q1 · Overall: -7.62009 Q2 · Overall: -8.62009 Q3 · Overall: -4.72009 Q4 · Overall: -1.92010 Q1 · Overall: +2.42011 Q1 · Overall: +1.82011 Q2 · Overall: +0.32011 Q3 · Overall: +4.52011 Q4 · Overall: +3.72012 Q1 · Overall: +2.82012 Q2 · Overall: +4.52012 Q3 · Overall: +3.52012 Q4 · Overall: +2.12013 Q1 · Overall: +6.32013 Q2 · Overall: +2.62013 Q3 · Overall: -3.82013 Q4 · Overall: +0.92014 Q1 · Overall: -1.92014 Q2 · Overall: +2.02014 Q3 · Overall: +4.92014 Q4 · Overall: +2.12015 Q1 · Overall: +4.62015 Q2 · Overall: +6.62015 Q3 · Overall: +3.32015 Q4 · Overall: +4.42016 Q1 · Overall: +7.02016 Q2 · Overall: +1.92016 Q3 · Overall: -2.12016 Q4 · Overall: +2.32017 Q1 · Overall: +0.82017 Q2 · Overall: +1.12017 Q3 · Overall: +3.22017 Q4 · Overall: +2.12018 Q1 · Overall: +1.82018 Q2 · Overall: +3.22018 Q3 · Overall: +0.12018 Q4 · Overall: +3.92019 Q1 · Overall: -0.72019 Q2 · Overall: -0.72019 Q3 · Overall: +3.72019 Q4 · Overall: +1.92020 Q1 · Overall: -4.02020 Q2 · Overall: -8.72020 Q3 · Overall: +0.32020 Q4 · Overall: -3.72021 Q1 · Overall: +1.22021 Q2 · Overall: +5.92021 Q3 · Overall: +6.92021 Q4 · Overall: +6.32022 Q1 · Overall: -0.12022 Q2 · Overall: +2.52022 Q3 · Overall: +0.82022 Q4 · Overall: +0.72023 Q1 · Overall: +5.62023 Q2 · Overall: -1.82023 Q3 · Overall: +3.12023 Q4 · Overall: +2.52024 Q1 · Overall: +4.92024 Q2 · Overall: +3.12024 Q3 · Overall: +4.72024 Q4 · Overall: +3.62025 Q1 · Overall: +5.6
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-39-20+0+20+392007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22007 Q4 · CEO: -7.02008 Q1 · CEO: -6.92008 Q2 · CEO: -0.92008 Q3 · CEO: -8.52008 Q4 · CEO: -12.22009 Q1 · CEO: -5.42009 Q2 · CEO: -14.42009 Q3 · CEO: -2.22009 Q4 · CEO: +0.02010 Q1 · CEO: +5.32011 Q1 · CEO: +7.42011 Q2 · CEO: +5.52011 Q3 · CEO: +11.02011 Q4 · CEO: +7.52012 Q1 · CEO: +7.42012 Q2 · CEO: +10.02012 Q3 · CEO: +6.92012 Q4 · CEO: +9.62013 Q1 · CEO: +7.62013 Q2 · CEO: +3.42013 Q3 · CEO: +3.02013 Q4 · CEO: +6.22014 Q1 · CEO: +1.02014 Q2 · CEO: +7.42014 Q3 · CEO: +9.12014 Q4 · CEO: +5.72015 Q2 · CEO: +9.02016 Q3 · CEO: +1.82016 Q4 · CEO: +3.62017 Q1 · CEO: +0.42017 Q2 · CEO: -1.32017 Q3 · CEO: +4.52017 Q4 · CEO: +8.32018 Q1 · CEO: +4.82018 Q2 · CEO: +5.42018 Q3 · CEO: +5.02018 Q4 · CEO: +6.92020 Q2 · CEO: -13.92020 Q4 · CEO: +0.82021 Q2 · CEO: +6.32021 Q3 · CEO: +15.02021 Q4 · CEO: +10.32022 Q1 · CEO: +9.92022 Q2 · CEO: +9.22022 Q3 · CEO: +10.22022 Q4 · CEO: +9.02023 Q1 · CEO: +13.22023 Q2 · CEO: +4.12023 Q3 · CEO: +13.02023 Q4 · CEO: +9.52024 Q2 · CEO: +17.62024 Q3 · CEO: +20.52024 Q4 · CEO: +11.82025 Q1 · CEO: +13.92007 Q4 · CFO: +0.92008 Q1 · CFO: +3.12008 Q2 · CFO: +3.82008 Q3 · CFO: +9.32008 Q4 · CFO: +0.82009 Q1 · CFO: -7.22009 Q2 · CFO: -4.72009 Q3 · CFO: -3.72009 Q4 · CFO: +2.82010 Q1 · CFO: -6.72011 Q1 · CFO: -3.52011 Q2 · CFO: +0.02011 Q3 · CFO: +7.52011 Q4 · CFO: +0.72012 Q1 · CFO: -1.82012 Q2 · CFO: +8.72012 Q3 · CFO: +2.72012 Q4 · CFO: +2.32013 Q1 · CFO: +12.82013 Q2 · CFO: +9.62013 Q3 · CFO: -34.12013 Q4 · CFO: +19.82014 Q1 · CFO: +0.02014 Q2 · CFO: +0.02014 Q3 · CFO: +5.12014 Q4 · CFO: -1.32015 Q1 · CFO: +0.02015 Q2 · CFO: +5.12015 Q3 · CFO: +8.42015 Q4 · CFO: +5.42016 Q1 · CFO: +1.02016 Q2 · CFO: +0.02017 Q4 · CFO: +3.72023 Q4 · CFO: +4.92024 Q1 · CFO: +3.42024 Q2 · CFO: +6.42024 Q3 · CFO: -2.52024 Q4 · CFO: +4.92025 Q1 · CFO: +8.1
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-32-16+0+16+322007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22007 Q4 · Prepared remarks: +0.02008 Q1 · Prepared remarks: -3.32008 Q2 · Prepared remarks: +2.22008 Q3 · Prepared remarks: -5.62008 Q4 · Prepared remarks: -9.52009 Q1 · Prepared remarks: -6.42009 Q2 · Prepared remarks: -14.42009 Q3 · Prepared remarks: +0.42009 Q4 · Prepared remarks: +0.32010 Q1 · Prepared remarks: +11.02011 Q1 · Prepared remarks: +11.12011 Q2 · Prepared remarks: +5.32011 Q3 · Prepared remarks: +20.32011 Q4 · Prepared remarks: +9.42012 Q1 · Prepared remarks: +13.62012 Q2 · Prepared remarks: +10.92012 Q3 · Prepared remarks: +15.82012 Q4 · Prepared remarks: +8.52013 Q1 · Prepared remarks: +10.42013 Q2 · Prepared remarks: +8.52013 Q3 · Prepared remarks: +8.32013 Q4 · Prepared remarks: +12.62014 Q1 · Prepared remarks: -0.52014 Q2 · Prepared remarks: +10.82014 Q3 · Prepared remarks: +15.42014 Q4 · Prepared remarks: +10.02015 Q1 · Prepared remarks: +18.52015 Q2 · Prepared remarks: +15.12015 Q3 · Prepared remarks: +11.52015 Q4 · Prepared remarks: +7.82016 Q1 · Prepared remarks: +12.32016 Q2 · Prepared remarks: +2.62016 Q3 · Prepared remarks: +6.52016 Q4 · Prepared remarks: +8.32017 Q1 · Prepared remarks: +4.02017 Q2 · Prepared remarks: +1.22017 Q3 · Prepared remarks: +3.82017 Q4 · Prepared remarks: +1.62018 Q1 · Prepared remarks: +5.72018 Q2 · Prepared remarks: +10.72018 Q3 · Prepared remarks: +10.12018 Q4 · Prepared remarks: +3.62019 Q1 · Prepared remarks: +27.52019 Q2 · Prepared remarks: +10.32019 Q3 · Prepared remarks: +16.32019 Q4 · Prepared remarks: +1.92020 Q1 · Prepared remarks: +2.22020 Q2 · Prepared remarks: -21.02020 Q3 · Prepared remarks: +11.42020 Q4 · Prepared remarks: +0.72021 Q1 · Prepared remarks: +15.62021 Q2 · Prepared remarks: +6.22021 Q3 · Prepared remarks: +22.92021 Q4 · Prepared remarks: +16.22022 Q1 · Prepared remarks: +2.32022 Q2 · Prepared remarks: +8.72022 Q3 · Prepared remarks: +16.62022 Q4 · Prepared remarks: +7.32023 Q1 · Prepared remarks: +16.52023 Q2 · Prepared remarks: +9.12023 Q3 · Prepared remarks: +15.42023 Q4 · Prepared remarks: +15.42024 Q1 · Prepared remarks: +21.42024 Q2 · Prepared remarks: +16.52024 Q3 · Prepared remarks: +19.92024 Q4 · Prepared remarks: +9.12025 Q1 · Prepared remarks: +17.32007 Q4 · Q&A responses: -3.82008 Q1 · Q&A responses: +3.22008 Q2 · Q&A responses: +0.02008 Q3 · Q&A responses: -0.62008 Q4 · Q&A responses: -4.32009 Q1 · Q&A responses: -6.92009 Q2 · Q&A responses: -3.42009 Q3 · Q&A responses: -3.42009 Q4 · Q&A responses: +0.22010 Q1 · Q&A responses: +2.72011 Q1 · Q&A responses: +2.02011 Q2 · Q&A responses: +3.82011 Q3 · Q&A responses: +2.82011 Q4 · Q&A responses: +2.52012 Q1 · Q&A responses: +1.82012 Q2 · Q&A responses: +2.52012 Q3 · Q&A responses: +1.32012 Q4 · Q&A responses: +2.02013 Q1 · Q&A responses: +6.42013 Q2 · Q&A responses: -0.92013 Q3 · Q&A responses: -4.22013 Q4 · Q&A responses: -0.22014 Q1 · Q&A responses: -2.32014 Q2 · Q&A responses: +2.52014 Q3 · Q&A responses: +3.82014 Q4 · Q&A responses: +0.42015 Q1 · Q&A responses: +1.32015 Q2 · Q&A responses: +5.22015 Q3 · Q&A responses: +2.52015 Q4 · Q&A responses: +2.52016 Q1 · Q&A responses: +6.92016 Q2 · Q&A responses: +3.12016 Q3 · Q&A responses: -0.22016 Q4 · Q&A responses: +1.82017 Q1 · Q&A responses: +0.42017 Q3 · Q&A responses: +3.82018 Q1 · Q&A responses: -4.72018 Q2 · Q&A responses: +3.52018 Q3 · Q&A responses: +1.32018 Q4 · Q&A responses: +4.92019 Q1 · Q&A responses: +1.52019 Q2 · Q&A responses: -0.32019 Q3 · Q&A responses: +3.12020 Q1 · Q&A responses: -3.32020 Q2 · Q&A responses: -3.12020 Q3 · Q&A responses: +2.82020 Q4 · Q&A responses: -2.82021 Q1 · Q&A responses: +1.12021 Q3 · Q&A responses: +3.72021 Q4 · Q&A responses: +5.12022 Q1 · Q&A responses: -0.92022 Q2 · Q&A responses: +6.52022 Q3 · Q&A responses: -2.42022 Q4 · Q&A responses: +1.62023 Q1 · Q&A responses: +7.02023 Q2 · Q&A responses: -0.22023 Q3 · Q&A responses: +6.82023 Q4 · Q&A responses: +3.42024 Q1 · Q&A responses: +5.92024 Q2 · Q&A responses: -1.62024 Q3 · Q&A responses: +4.42024 Q4 · Q&A responses: +3.62025 Q1 · Q&A responses: +4.3
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$2.78$4.44$6.102007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22014 Q1: $3.442014 Q2: $3.902014 Q3: $4.042014 Q4: $3.872015 Q1: $4.252015 Q2: $4.392015 Q3: $4.712015 Q4: $4.522016 Q1: $4.942016 Q2: $5.202016 Q3: $4.982016 Q4: $4.752017 Q1: $4.592017 Q2: $4.992017 Q3: $4.912017 Q4: $4.802018 Q1: $4.542018 Q2: $4.452018 Q3: $4.792018 Q4: $4.832019 Q1: $4.802019 Q2: $4.882019 Q3: $5.012019 Q4: $5.092020 Q1: $5.002020 Q2: $4.332020 Q3: $4.012020 Q4: $3.732021 Q1: $3.012021 Q2: $3.212021 Q3: $3.902021 Q4: $3.952022 Q1: $4.192022 Q2: $4.622022 Q3: $5.342022 Q4: $5.872023 Q1: $5.042023 Q2: $5.042023 Q3: $5.442023 Q4: $5.252024 Q1: $4.992024 Q2: $5.282024 Q3: $5.63

Forward P/E

26.4347.3868.322007 Q42010 Q12013 Q12015 Q22017 Q32019 Q42022 Q12024 Q22014 Q1: 37.482014 Q2: 36.142014 Q3: 36.022014 Q4: 42.612015 Q1: 41.312015 Q2: 37.912015 Q3: 35.832015 Q4: 40.032016 Q1: 37.472016 Q2: 33.192016 Q3: 34.372016 Q4: 35.802017 Q1: 39.992017 Q2: 39.152017 Q3: 37.442017 Q4: 37.982018 Q1: 35.972018 Q2: 37.432018 Q3: 38.062018 Q4: 37.432019 Q1: 41.492019 Q2: 42.912019 Q3: 42.202019 Q4: 40.762020 Q1: 30.812020 Q2: 37.582020 Q3: 38.152020 Q4: 43.302021 Q1: 63.082021 Q2: 65.432021 Q3: 57.672021 Q4: 63.012022 Q1: 58.032022 Q2: 40.652022 Q3: 38.372022 Q4: 29.322023 Q1: 33.722023 Q2: 37.732023 Q3: 33.072023 Q4: 35.042024 Q1: 37.322024 Q2: 38.372024 Q3: 40.93

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2015 Q3 tone ↓ -3.3 fwd EPS ↑ +0.31 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -5.1 fwd EPS ↑ +0.26 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↑ +4.3 fwd EPS ↓ -0.23 Tone rose while the forward EPS estimate was cut.
  • 2017 Q3 tone ↑ +2.1 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2018 Q3 tone ↓ -3.1 fwd EPS ↑ +0.33 Tone cooled even as the forward EPS estimate rose.
  • 2020 Q3 tone ↑ +9.0 fwd EPS ↓ -0.32 Tone rose while the forward EPS estimate was cut.
  • 2021 Q1 tone ↑ +4.9 fwd EPS ↓ -0.72 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -6.4 fwd EPS ↑ +0.24 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q1 tone ↑ +4.8 fwd EPS ↓ -0.83 Tone rose while the forward EPS estimate was cut.
  • 2024 Q1 tone ↑ +2.3 fwd EPS ↓ -0.26 Tone rose while the forward EPS estimate was cut.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-05-01+5.6——View →
2024 Q42025-02-06+3.6——View →
2024 Q32024-11-05+4.7$5.6340.9View →
2024 Q22024-08-01+3.1$5.2838.4View →
2024 Q12024-04-26+4.9$4.9937.3View →
2023 Q42024-02-01+2.5$5.2535.0View →
2023 Q32023-10-26+3.1$5.4433.1View →
2023 Q22023-08-01-1.8$5.0437.7View →