AvalonBay Communities (NYSE:AVB) Issues Quarterly Earnings Results, Misses Estimates By $1.04 EPS

AvalonBay Communities (NYSE:AVB) announced its quarterly earnings data on Wednesday. The real estate investment trust reported $1.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.25 by ($1.04), MarketWatch Earnings reports. AvalonBay Communities had a return on equity of 7.21% and a net margin of 33.32%. The firm had revenue of $576.41 million for the quarter, compared to the consensus estimate of $587.58 million. During the same period in the prior year, the firm posted $2.27 earnings per share.

Shares of AvalonBay Communities stock traded up $1.92 during trading on Friday, hitting $153.12. 1,412,238 shares of the stock were exchanged, compared to its average volume of 933,252. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $155.79 and a 200-day moving average price of $175.70. The stock has a market capitalization of $21.55 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 6.46 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 also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $1.59 dividend. This represents a $6.36 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend was Monday, June 29th. AvalonBay Communities’s dividend payout ratio is currently 68.09%.

Several equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $171.00 price target for the company. in a research report on Friday, April 17th. Piper Sandler boosted their target price on AvalonBay Communities from $140.00 to $145.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 26th. Morgan Stanley lowered their price target on AvalonBay Communities from $145.00 to $140.00 and set an “underweight” rating for the company in a research note on Monday, July 27th. Citigroup decreased their price objective on shares of AvalonBay Communities from $225.00 to $145.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Stifel Nicolaus increased their target price on shares of AvalonBay Communities from $171.00 to $176.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. AvalonBay Communities has an average rating of “Hold” and a consensus price target of $197.50.

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 for AvalonBay Communities (NYSE:AVB)

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