AvalonBay Communities Inc (AVB) Expected to Post Earnings of $2.31 Per Share

Equities analysts expect AvalonBay Communities Inc (NYSE:AVB) to post $2.31 earnings per share for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for AvalonBay Communities’ earnings. The highest EPS estimate is $2.33 and the lowest is $2.30. AvalonBay Communities posted earnings per share of $2.21 during the same quarter last year, which indicates a positive year over year growth rate of 4.5%. The firm is expected to announce its next quarterly earnings report on Monday, July 29th.

According to Zacks, analysts expect that AvalonBay Communities will report full year earnings of $9.34 per share for the current year, with EPS estimates ranging from $9.25 to $9.40. For the next fiscal year, analysts anticipate that the business will report earnings of $9.79 per share, with EPS estimates ranging from $9.57 to $9.97. Zacks Investment Research’s EPS calculations 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, April 24th. The real estate investment trust reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.02. AvalonBay Communities had a return on equity of 9.52% and a net margin of 45.94%. The company had revenue of $459.80 million for the quarter, compared to analysts’ expectations of $575.92 million. During the same period in the prior year, the firm earned $2.18 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year.

AVB has been the topic of a number of recent research reports. KeyCorp upped their price objective on AvalonBay Communities from $199.00 to $207.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Citigroup lowered AvalonBay Communities from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $190.00 to $205.00 in a research report on Thursday, February 21st. They noted that the move was a valuation call. SunTrust Banks upped their price objective on AvalonBay Communities to $208.00 and gave the stock an “average” rating in a research report on Thursday, February 14th. Argus reaffirmed a “buy” rating and set a $215.00 price objective on shares of AvalonBay Communities in a research report on Tuesday, April 30th. Finally, Barclays upped their price objective on AvalonBay Communities from $203.00 to $211.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $202.38.

AvalonBay Communities stock opened at $207.76 on Monday. AvalonBay Communities has a twelve month low of $165.50 and a twelve month high of $207.83. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.57 and a current ratio of 0.57. The firm has a market cap of $28.16 billion, a PE ratio of 23.08, a P/E/G ratio of 3.86 and a beta of 0.54.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $1.52 dividend. This represents a $6.08 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, June 27th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 67.56%.

In related news, CFO Kevin P. O’shea sold 250 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $205.49, for a total value of $51,372.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Stephen W. Wilson sold 4,956 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $195.96, for a total value of $971,177.76. The disclosure for this sale can be found here. Insiders sold 82,218 shares of company stock worth $16,179,377 in the last three months. 0.42% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Cornerstone Advisors Inc. increased its holdings in AvalonBay Communities by 85.5% in the first quarter. Cornerstone Advisors Inc. now owns 128 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 59 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in AvalonBay Communities in the first quarter valued at $27,000. Coastal Investment Advisors Inc. purchased a new position in AvalonBay Communities in the first quarter valued at $30,000. WP Advisors LLC purchased a new position in AvalonBay Communities in the first quarter valued at $31,000. Finally, Nalls Sherbakoff Group LLC purchased a new position in AvalonBay Communities in the fourth quarter valued at $35,000. 91.83% of the stock is currently owned by hedge funds and other institutional investors.

About AvalonBay Communities

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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