AvalonBay Communities Inc (NYSE:AVB) Expected to Announce Quarterly Sales of $591.26 Million

Equities research analysts expect AvalonBay Communities Inc (NYSE:AVB) to announce $591.26 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for AvalonBay Communities’ earnings. The highest sales estimate is $608.30 million and the lowest is $574.56 million. AvalonBay Communities reported sales of $577.26 million in the same quarter last year, which indicates a positive year over year growth rate of 2.4%. The business is expected to report its next quarterly earnings report on Wednesday, July 29th.

On average, analysts expect that AvalonBay Communities will report full-year sales of $2.34 billion for the current financial year, with estimates ranging from $2.19 billion to $2.43 billion. For the next year, analysts anticipate that the company will report sales of $2.42 billion, with estimates ranging from $2.38 billion to $2.50 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Wednesday, May 6th. The real estate investment trust reported $1.19 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.19. The firm had revenue of $547.51 million for the quarter, compared to analyst estimates of $596.58 million. AvalonBay Communities had a net margin of 33.20% and a return on equity of 7.21%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 EPS.

Several research analysts recently weighed in on the company. SunTrust Banks lowered their price objective on AvalonBay Communities from $216.00 to $193.00 and set a “buy” rating for the company in a research report on Thursday, April 2nd. Morgan Stanley lowered their price objective on AvalonBay Communities from $226.00 to $143.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 1st. Stifel Nicolaus increased their price objective on AvalonBay Communities from $171.00 to $176.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Mizuho lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $241.00 to $144.00 in a research report on Thursday, April 2nd. Finally, Citigroup lowered their price objective on AvalonBay Communities from $225.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. AvalonBay Communities currently has a consensus rating of “Hold” and an average target price of $198.71.

A number of institutional investors have recently bought and sold shares of the business. Wealth Quarterback LLC acquired a new stake in AvalonBay Communities in the fourth quarter valued at $5,348,410,000. BlackRock Inc. raised its stake in AvalonBay Communities by 2.5% in the first quarter. BlackRock Inc. now owns 16,350,124 shares of the real estate investment trust’s stock valued at $2,406,248,000 after buying an additional 404,029 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of AvalonBay Communities by 19.4% during the first quarter. Principal Financial Group Inc. now owns 4,831,274 shares of the real estate investment trust’s stock worth $711,009,000 after purchasing an additional 786,201 shares in the last quarter. Geode Capital Management LLC increased its position in shares of AvalonBay Communities by 2.7% during the first quarter. Geode Capital Management LLC now owns 2,936,720 shares of the real estate investment trust’s stock worth $431,569,000 after purchasing an additional 78,538 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of AvalonBay Communities during the fourth quarter worth about $606,892,000. Institutional investors own 90.91% of the company’s stock.

AvalonBay Communities stock traded up $1.28 during mid-day trading on Friday, hitting $154.28. The company’s stock had a trading volume of 21,080 shares, compared to its average volume of 1,369,013. The firm has a market capitalization of $21.30 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 4.93 and a beta of 0.82. AvalonBay Communities has a 1 year low of $118.17 and a 1 year high of $229.40. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.76. The stock’s fifty day moving average is $158.29 and its two-hundred day moving average is $183.82.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a $1.59 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $6.36 dividend on an annualized basis and a yield of 4.12%. AvalonBay Communities’s dividend payout ratio (DPR) is presently 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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Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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