Analysts expect AvalonBay Communities Inc (NYSE:AVB) to post $578.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for AvalonBay Communities’ earnings. The lowest sales estimate is $574.84 million and the highest is $585.06 million. AvalonBay Communities posted sales of $555.29 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.1%. The firm is expected to report its next quarterly earnings results on Wednesday, January 30th.
On average, analysts expect that AvalonBay Communities will report full-year sales of $2.28 billion for the current financial year, with estimates ranging from $2.28 billion to $2.29 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.37 billion, with estimates ranging from $2.34 billion to $2.38 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last released its quarterly earnings data on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.87). The business had revenue of $575.98 million during the quarter, compared to the consensus estimate of $573.87 million. AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. AvalonBay Communities’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.72 EPS.
AVB has been the topic of several research analyst reports. Stifel Nicolaus upped their price objective on AvalonBay Communities from $180.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 2nd. Evercore ISI set a $194.00 price objective on AvalonBay Communities and gave the company a “buy” rating in a research note on Monday, October 1st. Argus upped their price objective on AvalonBay Communities to $196.00 and gave the company a “buy” rating in a research note on Wednesday, August 15th. Mizuho restated a “buy” rating and issued a $212.00 price objective on shares of AvalonBay Communities in a research note on Monday, August 6th. Finally, ValuEngine upgraded AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the stock. AvalonBay Communities has a consensus rating of “Hold” and an average price target of $192.44.
NYSE:AVB opened at $182.53 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.04 and a current ratio of 0.77. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 21.18, a price-to-earnings-growth ratio of 2.76 and a beta of 0.38. AvalonBay Communities has a 12-month low of $152.65 and a 12-month high of $188.91.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were paid a dividend of $1.47 per share. The ex-dividend date was Thursday, September 27th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.22%. AvalonBay Communities’s dividend payout ratio (DPR) is currently 68.21%.
In related news, CFO Kevin P. O’shea sold 1,500 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $179.51, for a total transaction of $269,265.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Sean J. Breslin sold 7,200 shares of the stock in a transaction that occurred on Friday, August 24th. The stock was sold at an average price of $182.20, for a total value of $1,311,840.00. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the stock. Adviser Investments LLC acquired a new stake in AvalonBay Communities during the second quarter worth approximately $124,000. IFP Advisors Inc grew its position in AvalonBay Communities by 627.2% during the third quarter. IFP Advisors Inc now owns 749 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 646 shares in the last quarter. Zions Bancorporation acquired a new stake in AvalonBay Communities during the third quarter worth approximately $158,000. HRT Financial LLC acquired a new stake in AvalonBay Communities during the second quarter worth approximately $201,000. Finally, Commerce Bank acquired a new stake in AvalonBay Communities during the third quarter worth approximately $204,000. 93.49% of the stock is currently owned by institutional investors and hedge funds.
About AvalonBay Communities
As of June 30, 2018, the Company owned or held a direct or indirect ownership interest in 287 apartment communities containing 84,043 apartment homes in 12 states and the District of Columbia, of which 19 communities were under development and 16 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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