AvalonBay Communities (NYSE:AVB) Releases Q4 2024 Earnings Guidance

AvalonBay Communities (NYSE:AVB) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of 2.780-2.880 for the period, compared to the consensus EPS estimate of 2.840. The company issued revenue guidance of -. AvalonBay Communities also updated its FY 2024 guidance to 10.990-11.090 EPS.

AvalonBay Communities Price Performance

NYSE:AVB traded down $2.07 during trading hours on Wednesday, hitting $224.31. The stock had a trading volume of 388,071 shares, compared to its average volume of 728,112. The company has a 50 day simple moving average of $225.62 and a two-hundred day simple moving average of $210.50. The firm has a market capitalization of $31.90 billion, a price-to-earnings ratio of 38.19, a P/E/G ratio of 3.29 and a beta of 0.97. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.03 and a quick ratio of 2.03. AvalonBay Communities has a one year low of $164.76 and a one year high of $236.26.

AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Monday, November 4th. The real estate investment trust reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.10). The firm had revenue of $734.31 million during the quarter, compared to analysts’ expectations of $731.67 million. AvalonBay Communities had a return on equity of 7.16% and a net margin of 29.61%. During the same quarter in the previous year, the company posted $2.66 earnings per share. Research analysts forecast that AvalonBay Communities will post 11.01 earnings per share for the current fiscal year.

AvalonBay Communities Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Monday, September 30th. AvalonBay Communities’s dividend payout ratio (DPR) is 115.06%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVB. UBS Group raised their target price on shares of AvalonBay Communities from $210.00 to $228.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada decreased their target price on shares of AvalonBay Communities from $234.00 to $233.00 and set a “sector perform” rating for the company in a report on Wednesday. BNP Paribas began coverage on shares of AvalonBay Communities in a research note on Wednesday, September 11th. They issued an “outperform” rating and a $250.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on AvalonBay Communities from $206.00 to $249.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Evercore ISI boosted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. Eleven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, AvalonBay Communities has a consensus rating of “Hold” and an average target price of $227.06.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.