Wall Street brokerages expect AvalonBay Communities, Inc. (NYSE:AVB) to announce earnings of $2.26 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for AvalonBay Communities’ earnings, with the lowest EPS estimate coming in at $2.13 and the highest estimate coming in at $2.29. AvalonBay Communities reported earnings per share of $2.59 during the same quarter last year, which indicates a negative year over year growth rate of 12.7%. The company is expected to announce its next earnings results after the market closes on Monday, October 30th.
According to Zacks, analysts expect that AvalonBay Communities will report full year earnings of $8.43 per share for the current fiscal year, with EPS estimates ranging from $8.26 to $8.48. For the next year, analysts anticipate that the business will report earnings of $9.08 per share, with EPS estimates ranging from $8.93 to $9.23. Zacks’ EPS calculations are an average based on a survey of sell-side research analysts that cover AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $2.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.14 by ($0.05). AvalonBay Communities had a return on equity of 9.88% and a net margin of 47.90%. The business had revenue of $530.51 million for the quarter, compared to analyst estimates of $529.48 million. During the same quarter in the previous year, the firm posted $2.03 EPS.
Several brokerages have commented on AVB. Evercore ISI upgraded shares of AvalonBay Communities from an “in-line” rating to an “outperform” rating and set a $194.00 price target on the stock in a research note on Monday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Barclays PLC raised their price objective on shares of AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $196.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, July 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $196.00.
AvalonBay Communities (NYSE AVB) traded up 0.03% during trading on Friday, reaching $180.07. The company’s stock had a trading volume of 295,719 shares. The firm has a 50 day moving average of $182.32 and a 200 day moving average of $188.47. The stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of 24.80 and a beta of 0.36. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $199.52.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $1.42 dividend. The ex-dividend date was Thursday, September 28th. This represents a $5.68 annualized dividend and a yield of 3.16%. AvalonBay Communities’s dividend payout ratio (DPR) is 78.13%.
A number of institutional investors have recently bought and sold shares of AVB. Creative Planning grew its position in AvalonBay Communities by 0.4% in the second quarter. Creative Planning now owns 542 shares of the real estate investment trust’s stock worth $104,000 after buying an additional 2 shares during the last quarter. WFG Advisors LP boosted its stake in AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock worth $161,000 after purchasing an additional 167 shares during the period. Perigon Wealth Management LLC boosted its stake in AvalonBay Communities by 546.9% in the 1st quarter. Perigon Wealth Management LLC now owns 1,035 shares of the real estate investment trust’s stock worth $191,000 after purchasing an additional 875 shares during the period. Eqis Capital Management Inc. acquired a new position in AvalonBay Communities in the 2nd quarter worth approximately $201,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in AvalonBay Communities in the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 97.50% of the company’s stock.
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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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