Equities research analysts predict that AvalonBay Communities Inc (NYSE:AVB) will report sales of $583.34 million for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for AvalonBay Communities’ earnings. The lowest sales estimate is $576.75 million and the highest is $587.37 million. AvalonBay Communities posted sales of $575.98 million during the same quarter last year, which suggests a positive year over year growth rate of 1.3%. The business is scheduled to announce its next earnings results on Monday, November 4th.
On average, analysts expect that AvalonBay Communities will report full-year sales of $2.31 billion for the current year, with estimates ranging from $2.29 billion to $2.33 billion. For the next year, analysts expect that the company will report sales of $2.42 billion, with estimates ranging from $2.37 billion to $2.49 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for AvalonBay Communities.
AvalonBay Communities (NYSE:AVB) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $1.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.31 by ($1.10). The firm had revenue of $577.26 million during the quarter, compared to analyst estimates of $572.69 million. AvalonBay Communities had a return on equity of 8.63% and a net margin of 41.83%. During the same quarter last year, the business posted $2.23 earnings per share.
Several research firms have weighed in on AVB. JPMorgan Chase & Co. increased their target price on shares of AvalonBay Communities from $214.00 to $224.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Barclays increased their target price on shares of AvalonBay Communities from $213.00 to $228.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 16th. KeyCorp increased their target price on shares of AvalonBay Communities from $212.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. BTIG Research increased their target price on shares of AvalonBay Communities to $235.00 and gave the stock a “positive” rating in a report on Thursday. Finally, Citigroup increased their target price on shares of AvalonBay Communities from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Eleven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $210.31.
AVB traded up $1.42 during mid-day trading on Tuesday, hitting $205.84. The stock had a trading volume of 543,400 shares, compared to its average volume of 656,478. The stock’s fifty day simple moving average is $207.09 and its 200-day simple moving average is $201.90. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a market capitalization of $28.55 billion, a price-to-earnings ratio of 22.87, a price-to-earnings-growth ratio of 3.76 and a beta of 0.53. AvalonBay Communities has a 1-year low of $167.01 and a 1-year high of $214.10.
In related news, CFO Kevin P. O’shea sold 250 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $205.49, for a total transaction of $51,372.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $210.00, for a total transaction of $420,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $1,513,723. 0.42% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of AVB. Geode Capital Management LLC grew its stake in AvalonBay Communities by 9.1% during the 4th quarter. Geode Capital Management LLC now owns 2,297,292 shares of the real estate investment trust’s stock worth $399,297,000 after purchasing an additional 191,867 shares in the last quarter. Calamos Advisors LLC boosted its position in shares of AvalonBay Communities by 1.0% during the 1st quarter. Calamos Advisors LLC now owns 19,004 shares of the real estate investment trust’s stock worth $3,815,000 after acquiring an additional 187 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of AvalonBay Communities by 1.2% during the 1st quarter. Retirement Systems of Alabama now owns 64,496 shares of the real estate investment trust’s stock worth $12,946,000 after acquiring an additional 756 shares in the last quarter. WP Advisors LLC acquired a new position in shares of AvalonBay Communities during the 1st quarter worth about $31,000. Finally, Quantitative Systematic Strategies LLC boosted its position in shares of AvalonBay Communities by 334.1% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 24,944 shares of the real estate investment trust’s stock worth $5,007,000 after acquiring an additional 19,198 shares in the last quarter. Institutional investors and hedge funds own 91.88% of the company’s stock.
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.
Further Reading: Quick Ratio
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for AvalonBay Communities Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AvalonBay Communities and related companies with MarketBeat.com's FREE daily email newsletter.