AvalonBay Communities, Inc. (NYSE:AVB) – Research analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for AvalonBay Communities in a report issued on Wednesday, Zacks Investment Research reports. KeyCorp analyst A. Wurschmidt anticipates that the real estate investment trust will post earnings per share of $2.27 for the quarter. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for AvalonBay Communities’ FY2018 earnings at $9.15 EPS.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Monday, October 30th. The real estate investment trust reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.45). The company had revenue of $550.50 million for the quarter, compared to analysts’ expectations of $539.69 million. AvalonBay Communities had a return on equity of 8.66% and a net margin of 41.55%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.11 earnings per share.
Other equities research analysts have also recently issued reports about the company. UBS Group upgraded AvalonBay Communities from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Robert W. Baird restated a “buy” rating and set a $187.00 price objective on shares of AvalonBay Communities in a research note on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $209.00 target price on shares of AvalonBay Communities in a research report on Wednesday, October 4th. Mizuho reaffirmed a “buy” rating and set a $220.00 target price on shares of AvalonBay Communities in a research report on Monday, November 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $190.00 target price on shares of AvalonBay Communities in a research report on Monday, November 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $200.40.
Shares of AvalonBay Communities (NYSE:AVB) traded down $1.54 during midday trading on Friday, hitting $168.23. The company had a trading volume of 494,377 shares, compared to its average volume of 540,638. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.69. The stock has a market cap of $23,443.18, a PE ratio of 26.29, a P/E/G ratio of 2.52 and a beta of 0.35. AvalonBay Communities has a 1 year low of $167.51 and a 1 year high of $199.52.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Thursday, December 28th. AvalonBay Communities’s dividend payout ratio is presently 88.75%.
In other news, CEO Timothy J. Naughton sold 25,160 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Leo S. Horey III sold 2,000 shares of the stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total value of $365,500.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,628,669 over the last three months. Corporate insiders own 0.46% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Amica Retiree Medical Trust acquired a new position in shares of AvalonBay Communities in the third quarter valued at about $132,000. WFG Advisors LP increased its holdings in shares of AvalonBay Communities by 24.9% in the second quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of AvalonBay Communities in the second quarter valued at about $226,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of AvalonBay Communities in the third quarter valued at about $227,000. Finally, Lincoln National Corp acquired a new position in shares of AvalonBay Communities in the third quarter valued at about $239,000. 94.84% of the stock is currently owned by institutional investors and hedge funds.
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About AvalonBay Communities
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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