Wall Street analysts expect AvalonBay Communities Inc (NYSE:AVB) to report $2.26 earnings per share (EPS) for the current quarter, according to Zacks. Six analysts have issued estimates for AvalonBay Communities’ earnings. The lowest EPS estimate is $2.22 and the highest is $2.29. AvalonBay Communities reported earnings of $2.19 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.2%. The business is expected to report its next quarterly earnings results after the market closes on Monday, October 29th.
According to Zacks, analysts expect that AvalonBay Communities will report full-year earnings of $8.99 per share for the current financial year, with EPS estimates ranging from $8.95 to $9.03. For the next fiscal year, analysts expect that the firm will report earnings of $9.31 per share, with EPS estimates ranging from $9.17 to $9.40. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $1.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.20 by ($0.36). AvalonBay Communities had a return on equity of 8.42% and a net margin of 39.01%. The company had revenue of $569.24 million during the quarter, compared to the consensus estimate of $565.41 million. During the same period in the previous year, the company earned $2.09 earnings per share.
A number of brokerages have weighed in on AVB. ValuEngine upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Robert W. Baird cut shares of AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price objective on the stock. in a report on Wednesday, August 15th. Deutsche Bank upped their price objective on shares of AvalonBay Communities from $186.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. Stifel Nicolaus upped their price objective on shares of AvalonBay Communities from $180.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Finally, Mizuho restated a “buy” rating and issued a $212.00 price objective on shares of AvalonBay Communities in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $192.50.
In related news, CFO Kevin P. O’shea sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $179.85, for a total value of $359,700.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Sean J. Breslin sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $182.20, for a total transaction of $1,311,840.00. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its holdings in AvalonBay Communities by 8.1% in the first quarter. Principal Financial Group Inc. now owns 3,092,546 shares of the real estate investment trust’s stock worth $508,600,000 after purchasing an additional 232,456 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in AvalonBay Communities by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,078,649 shares of the real estate investment trust’s stock worth $357,298,000 after purchasing an additional 34,335 shares during the last quarter. Morgan Stanley raised its position in AvalonBay Communities by 0.6% in the second quarter. Morgan Stanley now owns 1,455,639 shares of the real estate investment trust’s stock worth $250,212,000 after acquiring an additional 8,707 shares during the period. Schwab Charles Investment Management Inc. raised its position in AvalonBay Communities by 4.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,445,048 shares of the real estate investment trust’s stock worth $248,390,000 after acquiring an additional 65,431 shares during the period. Finally, Legal & General Group Plc raised its position in AvalonBay Communities by 2.8% in the first quarter. Legal & General Group Plc now owns 1,186,815 shares of the real estate investment trust’s stock worth $195,193,000 after acquiring an additional 32,616 shares during the period. Institutional investors own 93.16% of the company’s stock.
Shares of AVB opened at $176.00 on Monday. The stock has a market capitalization of $25.04 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 2.65 and a beta of 0.33. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.04 and a current ratio of 1.04. AvalonBay Communities has a fifty-two week low of $152.65 and a fifty-two week high of $188.91.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Thursday, September 27th. AvalonBay Communities’s payout ratio is 68.21%.
AvalonBay Communities Company Profile
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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