• AvalonBay Communities average return on tangible equity for 2023 was 9.07, a 7.54% decline from 2022.
• AvalonBay Communities average return on tangible equity for 2022 was 9.81, a 8.52% decline from 2021.
• AvalonBay Communities average return on tangible equity for 2021 was 9.04, a 28.59% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.