Brokerages expect AvalonBay Communities Inc (NYSE:AVB) to report sales of $558.54 million for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for AvalonBay Communities’ earnings, with estimates ranging from $554.68 million to $563.48 million. AvalonBay Communities posted sales of $522.33 million in the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, April 25th.
On average, analysts expect that AvalonBay Communities will report full-year sales of $558.54 million for the current year, with estimates ranging from $2.14 billion to $2.30 billion. For the next financial year, analysts forecast that the company will report sales of $2.34 billion per share, with estimates ranging from $2.19 billion to $2.41 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $1.03. The company had revenue of $555.29 million during the quarter, compared to analyst estimates of $554.20 million. AvalonBay Communities had a net margin of 40.62% and a return on equity of 8.57%. AvalonBay Communities’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS.
AVB has been the topic of several analyst reports. BMO Capital Markets reiterated a “hold” rating and set a $190.00 price target on shares of AvalonBay Communities in a report on Monday, November 27th. JPMorgan Chase & Co. lowered AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a report on Friday, December 15th. Robert W. Baird reiterated a “buy” rating and set a $187.00 price target on shares of AvalonBay Communities in a report on Tuesday, January 9th. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 price target on shares of AvalonBay Communities in a report on Friday, January 19th. Finally, SunTrust Banks set a $194.00 price target on AvalonBay Communities and gave the stock a “buy” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $191.75.
In other AvalonBay Communities news, COO Sean J. Breslin sold 1,500 shares of AvalonBay Communities stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $182.65, for a total value of $273,975.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. Naughton sold 25,160 shares of AvalonBay Communities stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,660 shares of company stock worth $5,264,889. 0.46% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVB. Nationwide Fund Advisors grew its position in AvalonBay Communities by 98.3% in the 3rd quarter. Nationwide Fund Advisors now owns 183,361 shares of the real estate investment trust’s stock valued at $32,715,000 after acquiring an additional 90,885 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its position in shares of AvalonBay Communities by 1.8% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 22,695 shares of the real estate investment trust’s stock worth $4,049,000 after buying an additional 400 shares in the last quarter. State of Wisconsin Investment Board grew its position in shares of AvalonBay Communities by 7.2% during the third quarter. State of Wisconsin Investment Board now owns 174,268 shares of the real estate investment trust’s stock worth $31,093,000 after buying an additional 11,694 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of AvalonBay Communities during the third quarter worth about $336,000. Finally, Oregon Public Employees Retirement Fund grew its position in shares of AvalonBay Communities by 3.4% during the third quarter. Oregon Public Employees Retirement Fund now owns 14,754 shares of the real estate investment trust’s stock worth $2,632,000 after buying an additional 479 shares in the last quarter. 93.69% of the stock is owned by institutional investors.
Shares of AvalonBay Communities (NYSE AVB) traded up $1.93 on Wednesday, reaching $161.42. 635,286 shares of the company’s stock traded hands, compared to its average volume of 1,030,000. AvalonBay Communities has a 52 week low of $152.65 and a 52 week high of $199.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.19. The firm has a market cap of $22,560.00, a PE ratio of 25.50, a PEG ratio of 2.48 and a beta of 0.42.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Thursday, March 29th will be issued a $1.47 dividend. This is a positive change from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, March 28th. AvalonBay Communities’s payout ratio is 89.73%.
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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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