Brokerages expect AvalonBay Communities Inc (NYSE:AVB) to post earnings of $2.21 per share for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for AvalonBay Communities’ earnings, with the lowest EPS estimate coming in at $2.17 and the highest estimate coming in at $2.28. AvalonBay Communities posted earnings per share of $2.09 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.7%. The business is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that AvalonBay Communities will report full year earnings of $9.01 per share for the current year, with EPS estimates ranging from $8.88 to $9.16. For the next year, analysts forecast that the company will report earnings of $9.41 per share, with EPS estimates ranging from $9.15 to $9.61. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings data on Wednesday, January 31st. The real estate investment trust reported $2.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.22 by $1.03. The firm had revenue of $555.29 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $2.12 earnings per share.
Several analysts recently weighed in on AVB shares. Robert W. Baird reissued a “buy” rating and issued a $187.00 price objective on shares of AvalonBay Communities in a report on Tuesday, January 9th. Stifel Nicolaus lowered their price objective on AvalonBay Communities from $209.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, November 1st. Sandler O’Neill lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays lowered their price objective on AvalonBay Communities from $189.00 to $186.00 and set an “equal weight” rating for the company in a report on Tuesday, January 30th. Finally, Zacks Investment Research upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $194.82.
In other AvalonBay Communities news, CEO Timothy J. Naughton sold 25,160 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total value of $365,500.00. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,628,669 over the last 90 days. 0.46% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in AvalonBay Communities by 1.3% in 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 purchasing an additional 187,850 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in AvalonBay Communities by 9.7% during 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 acquiring an additional 308,139 shares during the period. Principal Financial Group Inc. raised its position in shares of AvalonBay Communities by 5.0% during the third quarter. Principal Financial Group Inc. now owns 2,932,070 shares of the real estate investment trust’s stock valued at $523,140,000 after buying an additional 138,649 shares during the last quarter. PGGM Investments raised its position in shares of AvalonBay Communities by 21.4% during 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 last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of AvalonBay Communities by 2.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,951,873 shares of the real estate investment trust’s stock valued at $348,254,000 after buying an additional 38,163 shares during the last quarter. Institutional investors and hedge funds own 95.21% of the company’s stock.
Shares of AvalonBay Communities (NYSE AVB) opened at $162.57 on Friday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $22,250.00, a PE ratio of 25.60, a P/E/G ratio of 2.46 and a beta of 0.34. AvalonBay Communities has a fifty-two week low of $154.82 and a fifty-two week high of $199.52.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 29th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, March 28th. This is an increase from AvalonBay Communities’s previous quarterly dividend of $1.42. This represents a $5.88 annualized dividend and a dividend yield of 3.62%. AvalonBay Communities’s payout ratio is currently 89.45%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.