Equities analysts forecast that AvalonBay Communities Inc (NYSE:AVB) will announce earnings of $2.31 per share for the current quarter, Zacks reports. Eight analysts have provided estimates for AvalonBay Communities’ earnings. The highest EPS estimate is $2.32 and the lowest is $2.31. AvalonBay Communities posted earnings of $2.28 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings report after the market closes on Monday, October 28th.
According to Zacks, analysts expect that AvalonBay Communities will report full-year earnings of $9.31 per share for the current fiscal year, with EPS estimates ranging from $9.24 to $9.34. For the next financial year, analysts forecast that the company will post earnings of $9.80 per share, with EPS estimates ranging from $9.70 to $9.94. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($1.10). The business had revenue of $577.26 million for the quarter, compared to analyst estimates of $572.69 million. AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. During the same period last year, the business earned $2.23 EPS.
Several equities research analysts have issued reports on AVB shares. Wells Fargo & Co raised their target price on AvalonBay Communities from $218.00 to $224.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 13th. SunTrust Banks raised their target price on AvalonBay Communities from $211.00 to $218.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. They noted that the move was a valuation call. Barclays cut their target price on AvalonBay Communities from $228.00 to $226.00 and set an “equal weight” rating for the company in a research note on Friday, September 6th. BTIG Research raised their target price on AvalonBay Communities to $235.00 and gave the stock a “positive” rating in a research note on Thursday, August 15th. Finally, Citigroup raised their target price on AvalonBay Communities from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. AvalonBay Communities presently has an average rating of “Hold” and a consensus price target of $212.87.
AVB stock traded up $1.58 during midday trading on Wednesday, hitting $215.86. 197,105 shares of the company’s stock were exchanged, compared to its average volume of 637,834. The business has a 50-day simple moving average of $209.53 and a two-hundred day simple moving average of $205.02. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $30.11 billion, a PE ratio of 23.98, a P/E/G ratio of 3.97 and a beta of 0.52. AvalonBay Communities has a 1-year low of $167.01 and a 1-year high of $216.80.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $1.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 2.82%. AvalonBay Communities’s payout ratio is presently 67.56%.
In other news, EVP Edward M. Schulman sold 1,301 shares of AvalonBay Communities stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $213.47, for a total value of $277,724.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP William M. Mclaughlin sold 2,500 shares of AvalonBay Communities stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $215.11, for a total value of $537,775.00. The disclosure for this sale can be found here. Insiders sold 5,801 shares of company stock valued at $1,243,499 over the last ninety days. Insiders own 0.42% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. United Capital Financial Advisers LLC lifted its holdings in shares of AvalonBay Communities by 6.5% in the 2nd quarter. United Capital Financial Advisers LLC now owns 2,588 shares of the real estate investment trust’s stock valued at $526,000 after purchasing an additional 159 shares during the last quarter. Gyroscope Capital Management Group LLC boosted its position in AvalonBay Communities by 10.8% in the second quarter. Gyroscope Capital Management Group LLC now owns 1,924 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 188 shares in the last quarter. Jennison Associates LLC acquired a new position in AvalonBay Communities in the first quarter valued at about $229,000. Campbell & CO Investment Adviser LLC boosted its position in AvalonBay Communities by 202.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 3,783 shares of the real estate investment trust’s stock valued at $759,000 after buying an additional 2,531 shares in the last quarter. Finally, Westpac Banking Corp boosted its position in AvalonBay Communities by 2.0% in the first quarter. Westpac Banking Corp now owns 295,029 shares of the real estate investment trust’s stock valued at $59,221,000 after buying an additional 5,715 shares in the last quarter. 92.46% of the stock is owned by institutional investors and hedge funds.
About AvalonBay Communities
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine communities were under redevelopment. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas primarily in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and the Northern and Southern California regions of the United States.
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