Equities research analysts expect AvalonBay Communities Inc (NYSE:AVB) to report earnings per share (EPS) of $2.40 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for AvalonBay Communities’ earnings, with estimates ranging from $2.37 to $2.43. AvalonBay Communities reported earnings per share of $2.27 during the same quarter last year, which indicates a positive year over year growth rate of 5.7%. The company is expected to issue its next earnings report on Wednesday, July 29th.
On average, analysts expect that AvalonBay Communities will report full year earnings of $9.06 per share for the current fiscal year, with EPS estimates ranging from $8.77 to $9.39. For the next financial year, analysts forecast that the firm will report earnings of $9.30 per share, with EPS estimates ranging from $8.77 to $9.75. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Wednesday, May 6th. The real estate investment trust reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.20%. The firm had revenue of $547.51 million during the quarter, compared to analysts’ expectations of $596.58 million. During the same quarter last year, the firm earned $1.23 earnings per share. The business’s revenue for the quarter was up 3.1% on a year-over-year basis.
A number of research firms recently commented on AVB. SunTrust Banks dropped their price objective on AvalonBay Communities from $216.00 to $193.00 and set a “buy” rating on the stock in a report on Thursday, April 2nd. TheStreet downgraded shares of AvalonBay Communities from a “b-” rating to a “c+” rating in a report on Thursday, March 19th. Morgan Stanley reduced their price objective on shares of AvalonBay Communities from $226.00 to $143.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 1st. Piper Sandler increased their target price on shares of AvalonBay Communities from $140.00 to $145.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus boosted their price target on AvalonBay Communities from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $198.71.
A number of hedge funds have recently made changes to their positions in AVB. Sowell Financial Services LLC boosted its holdings in AvalonBay Communities by 970.0% in the 1st quarter. Sowell Financial Services LLC now owns 214 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 194 shares during the period. Ellevest Inc. raised its position in shares of AvalonBay Communities by 67.3% during the first quarter. Ellevest Inc. now owns 261 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 105 shares during the last quarter. Arden Trust Co bought a new stake in shares of AvalonBay Communities in the first quarter valued at about $56,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in AvalonBay Communities during the first quarter worth about $57,000. Finally, Muzinich & Co. Inc. increased its stake in AvalonBay Communities by 18.8% during the fourth quarter. Muzinich & Co. Inc. now owns 291 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 46 shares during the period. 90.91% of the stock is currently owned by institutional investors and hedge funds.
Shares of AvalonBay Communities stock traded up $1.28 during trading on Thursday, hitting $154.28. 21,080 shares of the stock traded hands, compared to its average volume of 1,369,013. The stock has a market cap of $21.30 billion, a P/E ratio of 27.32, a PEG ratio of 4.93 and a beta of 0.82. The company has a fifty day moving average price of $158.29 and a two-hundred day moving average price of $183.82. AvalonBay Communities has a twelve month low of $118.17 and a twelve month high of $229.40. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.72 and a current ratio of 2.72.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $1.59 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $6.36 annualized dividend and a dividend yield of 4.12%. AvalonBay Communities’s dividend payout ratio is 68.09%.
AvalonBay Communities Company Profile
As of March 31, 2019, the Company owned or held a direct or indirect ownership interest in 291 apartment communities containing 85,313 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and nine 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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