Wall Street brokerages expect AvalonBay Communities Inc (NYSE:AVB) to announce earnings of $2.21 per share for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for AvalonBay Communities’ earnings. The lowest EPS estimate is $2.17 and the highest is $2.28. AvalonBay Communities reported earnings per share of $2.09 during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The company is expected to issue its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that AvalonBay Communities will report full-year earnings of $9.01 per share for the current year, with EPS estimates ranging from $8.88 to $9.16. For the next financial year, analysts forecast that the firm will report earnings of $9.41 per share, with EPS estimates ranging from $9.15 to $9.61. Zacks’ EPS averages are a mean average based on a survey of analysts that follow AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $1.03. The company had revenue of $555.29 million for the quarter, compared to the consensus estimate of $554.20 million. AvalonBay Communities had a return on equity of 8.57% and a net margin of 40.62%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.12 EPS.
Several brokerages have commented on AVB. SunTrust Banks reaffirmed a “buy” rating and issued a $186.00 price target on shares of AvalonBay Communities in a research report on Friday, February 2nd. Zacks Investment Research raised AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $185.00 price target on shares of AvalonBay Communities in a research report on Thursday, February 1st. BMO Capital Markets reaffirmed a “hold” rating and issued a $187.00 price target on shares of AvalonBay Communities in a research report on Wednesday, January 31st. Finally, Sandler O’Neill downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $194.82.
Shares of AvalonBay Communities (NYSE:AVB) traded down $1.15 during midday trading on Friday, reaching $161.42. The company’s stock had a trading volume of 401,858 shares, compared to its average volume of 843,563. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.71. The company has a market cap of $22,448.95, a P/E ratio of 25.44, a P/E/G ratio of 2.52 and a beta of 0.34. AvalonBay Communities has a 52 week low of $154.82 and a 52 week high of $199.52.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Wednesday, March 28th. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s dividend payout ratio (DPR) is presently 89.31%.
In related news, COO Sean J. Breslin sold 1,500 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Leo S. Horey III sold 2,000 shares of the business’s stock in a transaction on 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 have sold a total of 30,660 shares of company stock worth $5,628,669 in the last three months. 0.46% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Compagnie Lombard Odier SCmA acquired a new stake in AvalonBay Communities in the 4th quarter valued at $236,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in AvalonBay Communities by 5.0% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 110,200 shares of the real estate investment trust’s stock valued at $19,661,000 after buying an additional 5,200 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in AvalonBay Communities in the 4th quarter valued at $7,622,000. Eii Capital Management Inc. boosted its stake in AvalonBay Communities by 399.2% in the 4th quarter. Eii Capital Management Inc. now owns 23,058 shares of the real estate investment trust’s stock valued at $4,114,000 after buying an additional 18,439 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in AvalonBay Communities in the 4th quarter valued at $1,872,000. 95.84% 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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