$2.35 Earnings Per Share Expected for AvalonBay Communities Inc (NYSE:AVB) This Quarter

Brokerages forecast that AvalonBay Communities Inc (NYSE:AVB) will post $2.35 earnings per share for the current quarter, Zacks reports. Eight analysts have issued estimates for AvalonBay Communities’ earnings, with estimates ranging from $2.31 to $2.37. AvalonBay Communities reported earnings per share of $2.28 during the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, October 28th.

On average, analysts expect that AvalonBay Communities will report full year earnings of $9.31 per share for the current year, with EPS estimates ranging from $9.23 to $9.37. For the next fiscal year, analysts forecast that the company will post earnings of $9.81 per share, with EPS estimates ranging from $9.68 to $9.94. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $2.31 by ($1.10). The business had revenue of $577.26 million for the quarter, compared to analyst estimates of $572.69 million. AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. During the same period in the previous year, the firm posted $2.23 earnings per share.

A number of research analysts recently weighed in on AVB shares. Morgan Stanley boosted their target price on AvalonBay Communities from $217.00 to $229.00 and gave the stock an “equal weight” rating in a report on Friday, September 6th. Zelman & Associates upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. ValuEngine downgraded AvalonBay Communities from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup boosted their price target on AvalonBay Communities from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Co boosted their price target on AvalonBay Communities from $218.00 to $224.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Nine research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $215.21.

In other news, EVP William M. Mclaughlin sold 2,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $215.11, for a total transaction of $537,775.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $214.00, for a total value of $428,000.00. The disclosure for this sale can be found here. Insiders sold a total of 5,801 shares of company stock valued at $1,243,499 over the last 90 days. 0.42% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. CX Institutional lifted its position in shares of AvalonBay Communities by 85.5% during the 3rd quarter. CX Institutional now owns 115 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 53 shares during the period. NuWave Investment Management LLC lifted its position in shares of AvalonBay Communities by 575.0% during the 2nd quarter. NuWave Investment Management LLC now owns 216 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 184 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of AvalonBay Communities by 900.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 250 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 225 shares during the period. CSat Investment Advisory L.P. raised its holdings in shares of AvalonBay Communities by 370.4% during the 2nd quarter. CSat Investment Advisory L.P. now owns 254 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 200 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of AvalonBay Communities during the 2nd quarter worth $60,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.

AVB stock opened at $220.17 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $30.60 billion, a PE ratio of 24.46, a PEG ratio of 4.07 and a beta of 0.49. AvalonBay Communities has a 1-year low of $167.01 and a 1-year high of $220.40. The business’s 50 day simple moving average is $214.20 and its 200 day simple moving average is $206.97.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $1.52 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $6.08 annualized dividend and a yield of 2.76%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.

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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Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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