Wall Street analysts forecast that AvalonBay Communities Inc (NYSE:AVB) will post earnings per share (EPS) of $2.32 for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for AvalonBay Communities’ earnings, with the highest EPS estimate coming in at $2.33 and the lowest estimate coming in at $2.31. AvalonBay Communities posted earnings of $2.25 per share during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, January 30th.
According to Zacks, analysts expect that AvalonBay Communities will report full-year earnings of $8.99 per share for the current fiscal year, with EPS estimates ranging from $8.85 to $9.03. For the next year, analysts expect that the business will post earnings of $9.31 per share, with EPS estimates ranging from $9.25 to $9.38. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that cover AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.87). AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The company had revenue of $575.98 million for the quarter, compared to the consensus estimate of $573.87 million. During the same quarter in the prior year, the company earned $1.72 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis.
Several research analysts have recently commented on AVB shares. ValuEngine raised AvalonBay Communities from a “hold” rating to a “buy” rating in a report on Wednesday, November 21st. Robert W. Baird lowered AvalonBay Communities from an “outperform” rating to a “neutral” rating and set a $197.00 price objective for the company. in a report on Wednesday, August 15th. Scotiabank set a $183.00 price objective on AvalonBay Communities and gave the stock a “hold” rating in a report on Monday, November 12th. Argus boosted their price objective on AvalonBay Communities from $196.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, November 21st. Finally, Deutsche Bank boosted their price objective on AvalonBay Communities from $186.00 to $192.00 and gave the stock a “hold” rating in a report on Wednesday, September 5th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $192.88.
In other AvalonBay Communities news, CFO Kevin P. O’shea sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $179.51, for a total value of $269,265.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward M. Schulman sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $183.76, for a total value of $257,264.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,453 shares of company stock valued at $7,365,478. 0.43% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. State Treasurer State of Michigan lifted its position in AvalonBay Communities by 0.7% in the second quarter. State Treasurer State of Michigan now owns 40,923 shares of the real estate investment trust’s stock valued at $7,034,000 after purchasing an additional 300 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in AvalonBay Communities by 2.1% in the second quarter. Oregon Public Employees Retirement Fund now owns 15,099 shares of the real estate investment trust’s stock valued at $2,595,000 after purchasing an additional 316 shares during the last quarter. Comerica Bank lifted its position in AvalonBay Communities by 0.4% in the second quarter. Comerica Bank now owns 89,036 shares of the real estate investment trust’s stock valued at $15,258,000 after purchasing an additional 354 shares during the last quarter. Mount Yale Investment Advisors LLC lifted its position in AvalonBay Communities by 30.3% in the second quarter. Mount Yale Investment Advisors LLC now owns 1,594 shares of the real estate investment trust’s stock valued at $274,000 after purchasing an additional 371 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in AvalonBay Communities by 2.4% in the third quarter. DNB Asset Management AS now owns 16,968 shares of the real estate investment trust’s stock valued at $3,074,000 after purchasing an additional 390 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.
Shares of AVB traded down $2.95 during midday trading on Friday, hitting $188.72. 58,558 shares of the company traded hands, compared to its average volume of 491,048. AvalonBay Communities has a one year low of $152.65 and a one year high of $191.78. The stock has a market cap of $25.89 billion, a PE ratio of 21.82, a P/E/G ratio of 2.82 and a beta of 0.42. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.72.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, December 28th. AvalonBay Communities’s dividend payout ratio is currently 68.21%.
AvalonBay Communities Company Profile
As of September 30, 2018, the Company owned or held a direct or indirect ownership interest in 290 apartment communities containing 84,490 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 15 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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