FY2019 Earnings Estimate for AvalonBay Communities Inc (AVB) Issued By SunTrust Banks

AvalonBay Communities Inc (NYSE:AVB) – Equities research analysts at SunTrust Banks lowered their FY2019 earnings per share (EPS) estimates for AvalonBay Communities in a report released on Monday, October 15th. SunTrust Banks analyst M. Lewis now expects that the real estate investment trust will post earnings per share of $9.31 for the year, down from their previous forecast of $9.35.

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 Thomson Reuters’ 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 firm had revenue of $569.24 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same period in the prior year, the firm posted $2.09 earnings per share.

Several other equities research analysts also recently commented on the stock. Scotiabank initiated coverage on shares of AvalonBay Communities in a research note on Tuesday. They set a “sector perform” rating for the company. Evercore ISI set a $194.00 price objective on shares of AvalonBay Communities and gave the stock a “buy” rating in a research note on Monday, October 1st. Stifel Nicolaus lifted their price objective on shares of AvalonBay Communities from $180.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. ValuEngine upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Argus lifted their price objective on shares of AvalonBay Communities to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $192.50.

NYSE AVB opened at $177.03 on Thursday. 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 12-month low of $152.65 and a 12-month high of $188.91. The firm has a market capitalization of $25.04 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 2.65 and a beta of 0.33.

Several institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its position in shares of 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 acquiring an additional 232,456 shares during the period. Dimensional Fund Advisors LP raised its position in shares of 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 acquiring an additional 34,335 shares during the period. Morgan Stanley raised its position in shares of 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 shares of 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 shares of 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 and hedge funds own 93.16% of the company’s stock.

In other AvalonBay Communities news, CFO Kevin P. O’shea sold 2,000 shares of the company’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Sean J. Breslin sold 7,200 shares of the company’s stock in a transaction dated 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. Insiders own 0.43% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a yield of 3.32%. AvalonBay Communities’s dividend payout ratio is presently 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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Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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