AvalonBay Communities, Inc. (AVB) vs Ventas, Inc. (VTR)
A side-by-side comparison of AvalonBay Communities, Inc. and Ventas, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
Total return — AVB vs VTR
growth of $100 · dividends reinvested · last 10yAVB vs VTR: by the numbers
- •VTR is the larger company ($43.75B vs $26.28B market cap).
- •AVB converts more revenue to profit (33.39% vs 4.13% net margin).
- •VTR grew revenue faster over the past five years (11.91% vs 6.62% CAGR).
- •AVB pays the higher dividend yield (3.84% vs 2.24%).
Metrics side by side
Valuation
| Metric | AVB | VTR |
|---|---|---|
| P/E ratio | 9.39 | 166.63 |
| Forward P/E | 11.29 | 154.38 |
| P/S ratio | 8.53 | 6.79 |
| P/B ratio | 2.19 | 2.99 |
| EV / EBITDA | 19.60 | 24.66 |
| FCF yield | 4.83% | N/A |
For REITs like AvalonBay Communities, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
For REITs like Ventas, Inc., GAAP P/E is distorted: heavy non-cash property depreciation depresses reported earnings and overstates the multiple. Real-estate companies are valued on funds from operations (FFO / AFFO) and price-to-FFO — see the Funds From Operations section. The P/E is shown for reference only.
Profitability
| Metric | AVB | VTR |
|---|---|---|
| Gross margin | 66.99% | -2.58% |
| Operating margin | 28.45% | 12.94% |
| Net margin | 33.39% | 4.13% |
| ROE | 8.56% | 1.82% |
| ROIC | 3.93% | 2.81% |
Dividends
| Metric | AVB | VTR |
|---|---|---|
| Dividend yield | 3.84% | 2.24% |
| Payout ratio | 97.25% | 370.37% |
AvalonBay Communities, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Ventas, Inc.'s payout ratio is measured against GAAP earnings, which non-cash depreciation depresses for REITs — the dividend is conventionally assessed against funds from operations (FFO / AFFO) instead, so the GAAP figure overstates the payout burden.
Growth (annualized)
| Metric | AVB | VTR |
|---|---|---|
| Revenue CAGR (5Y) | 6.62% | 11.91% |
| EPS CAGR (5Y) | 4.67% | -14.16% |
| FCF CAGR (5Y) | 9.40% | 0.22% |
| Total return CAGR (5Y) | -18.27% | 13.45% |
Frequently asked
- Which has grown faster, AVB or VTR?
- Over the past five years, VTR grew revenue faster — AVB at a 6.62% CAGR versus VTR at 11.91%.
- Does AVB or VTR pay a bigger dividend?
- AVB yields 3.84% and VTR yields 2.24% based on trailing dividends and the latest price.
- Is AVB or VTR more profitable?
- AVB runs the higher net margin — AVB at 33.39% versus VTR at 4.13%.
- How have AVB and VTR total returns compared?
- Over the past 10 years, AVB delivered -5.84% and VTR delivered 7.06% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
AvalonBay Communities & Ventas appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.