Analysts expect AvalonBay Communities Inc (NYSE:AVB) to post $558.54 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for AvalonBay Communities’ earnings, with the lowest sales estimate coming in at $554.68 million and the highest estimate coming in at $563.48 million. AvalonBay Communities posted sales of $522.33 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.9%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, April 25th.
On average, analysts expect that AvalonBay Communities will report full year sales of $558.54 million for the current financial year, with estimates ranging from $2.17 billion to $2.30 billion. For the next year, analysts anticipate that the firm will post sales of $2.34 billion per share, with estimates ranging from $2.22 billion to $2.41 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last released its earnings results on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $1.03. The business 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%. AvalonBay Communities’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 earnings per share.
A number of equities analysts have weighed in on AVB shares. Mizuho set a $185.00 price target on AvalonBay Communities and gave the stock a “buy” rating in a research report on Friday, February 9th. Sandler O’Neill downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Robert W. Baird reissued a “buy” rating and set a $187.00 price target on shares of AvalonBay Communities in a research report on Tuesday, January 9th. JPMorgan Chase downgraded AvalonBay Communities from an “overweight” rating to a “neutral” rating and set a $211.00 price target on the stock. in a research report on Friday, December 15th. Finally, Barclays lowered their price target on AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $191.00.
Shares of NYSE AVB opened at $165.42 on Tuesday. The company has a market cap of $22,923.85, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 2.60 and a beta of 0.36. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.19. AvalonBay Communities has a twelve month low of $152.65 and a twelve month 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 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from AvalonBay Communities’s previous quarterly dividend of $1.42. AvalonBay Communities’s payout ratio is currently 68.21%.
Several large investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of AvalonBay Communities by 1.3% during the fourth quarter. BlackRock Inc. now owns 15,114,729 shares of the real estate investment trust’s stock worth $2,696,619,000 after acquiring an additional 187,850 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of AvalonBay Communities by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 3,493,069 shares of the real estate investment trust’s stock valued at $623,200,000 after buying an additional 308,139 shares during the period. PGGM Investments boosted its stake in shares of AvalonBay Communities by 21.4% in the fourth quarter. PGGM Investments now owns 1,993,000 shares of the real estate investment trust’s stock valued at $355,571,000 after buying an additional 350,790 shares during the period. Geode Capital Management LLC boosted its stake in shares of AvalonBay Communities by 4.4% in the fourth quarter. Geode Capital Management LLC now owns 1,751,561 shares of the real estate investment trust’s stock valued at $311,957,000 after buying an additional 73,061 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of AvalonBay Communities by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,299,049 shares of the real estate investment trust’s stock valued at $231,764,000 after buying an additional 75,452 shares during the period. Institutional investors own 94.72% of the company’s stock.
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AvalonBay Communities Company Profile
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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