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AvalonBay Communities AVB New York City, NY — Abandoned pursuits costs

Discontinued — last reported Q4 '20

Similar metrics at other companies

Equity Residential logo
EQRWrite Off Pursuit Costs Investment In Real Estate
$78K-4.9%
Equity Residential logo
EQRWrite Off Of Pursuit Costs Investments In Unconsolidated Entities
$676K-41.3%
Wynn Resorts logo
WYNNProperty charges and other
$11.63M-4.9%
Regency Centers logo
REGNY — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Carrying Costs
$8.83M+112%
Equity Residential logo
EQRWrite Off Of Pursuit Costs Other Assets
$200K+127%
UDR logo
UDRNew York Ny — Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
$242.73M+10.7%

Other financials

Income statement

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Revenue$770.3M+3.3%
Operating income$509.4M+5.5%
Net income$325.7M+37.7%
EPS (diluted)$2.33+40.4%

Balance sheet

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Cash & equivalents$291.1M+32.9%
Total debt$10.3B+18.3%
Total equity$11.5B-3.6%
Total assets$22.1B+4.3%

Cash flow

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Operating cash flow$418.9M+0.7%
CapEx$59.5M+22.9%
Free cash flow$359.5M-2.2%

Valuation

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Market cap$25.16B-25.1%
Enterprise value$35.16B-15.7%
P/E22×-7.4×
P/S8.2×-3.2×

Profitability

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Operating margin67%+0.9pp
Net margin37.4%-1.5pp
FCF margin45.7%-2.0pp

Returns & leverage

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Return on equity9.8%+0.1pp
Debt / equity0.9×+0.2×

Where this comes from

Reported directly by AvalonBay Communities in its filing.

Tagged under the XBRL concept avb:BusinessCombinationAcquisitionRelatedCostsAbandonedPursuitCosts.

The official record: AvalonBay Communities’s 10-K, filed February 24, 2023, on SEC EDGAR. View the filing →

Questions, answered.

What does new york city, NY — abandoned pursuits costs mean?
The total expenses written off from development projects or land acquisitions in New York City that were cancelled before completion.
How do you interpret new york city, NY — abandoned pursuits costs?
An increase suggests higher risk or poor project selection in the New York City market, while a decrease indicates successful project vetting and disciplined capital deployment.
How does new york city, NY — abandoned pursuits costs compare across companies?
Peers in the multi-family REIT sector report similar 'abandoned pursuit' or 'pre-development write-off' costs, though the magnitude varies based on the aggressiveness of their development pipeline and local regulatory environments.