AvalonBay Communities (NYSE:AVB) Issues FY 2024 Earnings Guidance

AvalonBay Communities (NYSE:AVB) updated its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 10.990-11.090 for the period, compared to the consensus EPS estimate of 11.030. The company issued revenue guidance of -. AvalonBay Communities also updated its FY24 guidance to $10.99-$11.09 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of AvalonBay Communities from $207.00 to $214.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on AvalonBay Communities from $212.00 to $247.00 and gave the stock a “neutral” rating in a research note on Monday, September 16th. Scotiabank boosted their price target on AvalonBay Communities from $229.00 to $244.00 and gave the stock a “sector perform” rating in a report on Monday, September 16th. Evercore ISI lifted their price target on AvalonBay Communities from $225.00 to $229.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. Finally, Zelman & Associates upgraded shares of AvalonBay Communities to a “hold” rating in a report on Thursday, September 5th. Eleven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, AvalonBay Communities has an average rating of “Hold” and an average target price of $225.88.

AvalonBay Communities Trading Up 2.0 %

Shares of AVB stock traded up $4.31 during trading hours on Tuesday, hitting $222.81. 196,379 shares of the company were exchanged, compared to its average volume of 727,013. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.71. AvalonBay Communities has a 1 year low of $164.76 and a 1 year high of $236.26. The firm has a market cap of $31.69 billion, a PE ratio of 36.97, a PEG ratio of 3.29 and a beta of 0.97. The firm has a fifty day moving average of $225.52 and a 200 day moving average of $210.20.

AvalonBay Communities Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $1.70 per share. The ex-dividend date was Monday, September 30th. This represents a $6.80 dividend on an annualized basis and a dividend yield of 3.05%. AvalonBay Communities’s dividend payout ratio (DPR) is 115.06%.

AvalonBay Communities Company Profile

As of December 31, 2023, the Company owned or held a direct or indirect ownership interest in 299 apartment communities containing 90,669 apartment homes in 12 states and the District of Columbia, of which 18 communities were under development. The Company is an equity REIT in the business of developing, redeveloping, acquiring and managing apartment communities in leading metropolitan areas in New England, the New York/New Jersey Metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as in the Company's expansion regions of Raleigh-Durham and Charlotte, North Carolina, Southeast Florida, Dallas and Austin, Texas, and Denver, Colorado.