The landlord has an excellent record of paying dividends. The landlord easily supports this payment. It expects $11.14 to$11.64 in core funds from operations (FFO) per share this year. Its conservative payout ratio lets it retain cash for new investments. AvalonBay also has an elite balance sheet, providing additional flexibility for expanding its apartment portfolio. The REIT used its flexibility to buy eight apartment communities in Texas earlier this year for a combined $618.5 million. AvalonBay also ha ...