AvalonBay Communities, Inc. (NYSE:AVB) – Equities researchers at Jefferies Group issued their Q2 2017 earnings per share (EPS) estimates for AvalonBay Communities in a report issued on Friday. Jefferies Group analyst O. Okusanya forecasts that the real estate investment trust will post earnings of $2.17 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $196.00 target price on the stock. Jefferies Group also issued estimates for AvalonBay Communities’ FY2017 earnings at $8.53 EPS.
AVB has been the subject of a number of other reports. Deutsche Bank AG cut shares of AvalonBay Communities from a “buy” rating to a “hold” rating and set a $193.00 price objective for the company. in a report on Wednesday, May 17th. JMP Securities cut shares of AvalonBay Communities from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 19th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and issued a $203.00 price objective on shares of AvalonBay Communities in a report on Sunday. Argus initiated coverage on shares of AvalonBay Communities in a report on Thursday, June 22nd. They set a “buy” rating and a $220.00 price target for the company. Finally, BMO Capital Markets restated a “hold” rating and set a $191.00 price target on shares of AvalonBay Communities in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $194.38.
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AvalonBay Communities (NYSE:AVB) opened at 190.04 on Monday. The firm has a market cap of $26.11 billion, a PE ratio of 25.32 and a beta of 0.34. The firm’s 50 day moving average price is $193.38 and its 200-day moving average price is $184.09. AvalonBay Communities has a 52 week low of $158.32 and a 52 week high of $199.52.
AvalonBay Communities (NYSE:AVB) last issued its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.11 by $0.02. The company had revenue of $522.33 million for the quarter, compared to analyst estimates of $520.56 million. AvalonBay Communities had a return on equity of 10.31% and a net margin of 50.12%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.97 EPS.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 2.99%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s dividend payout ratio (DPR) is presently 75.63%.
In related news, insider William M. Mclaughlin sold 5,112 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $193.88, for a total value of $991,114.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Leo S. Horey III sold 3,000 shares of the stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $190.25, for a total transaction of $570,750.00. The disclosure for this sale can be found here. Insiders sold 42,336 shares of company stock valued at $8,123,261 in the last three months. Company insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of AVB. BlackRock Inc. raised its position in AvalonBay Communities by 2,676.8% in the first quarter. BlackRock Inc. now owns 14,398,025 shares of the real estate investment trust’s stock valued at $2,643,476,000 after buying an additional 13,879,505 shares during the period. Daiwa Securities Group Inc. raised its position in AvalonBay Communities by 236.1% in the first quarter. Daiwa Securities Group Inc. now owns 2,585,626 shares of the real estate investment trust’s stock valued at $474,721,000 after buying an additional 1,816,302 shares during the period. FMR LLC raised its position in AvalonBay Communities by 21.5% in the first quarter. FMR LLC now owns 4,372,295 shares of the real estate investment trust’s stock valued at $802,753,000 after buying an additional 773,410 shares during the period. Vanguard Group Inc. raised its position in AvalonBay Communities by 1.9% in the first quarter. Vanguard Group Inc. now owns 21,857,497 shares of the real estate investment trust’s stock valued at $4,013,036,000 after buying an additional 406,218 shares during the period. Finally, Bank of Montreal Can raised its position in AvalonBay Communities by 592.9% in the first quarter. Bank of Montreal Can now owns 461,531 shares of the real estate investment trust’s stock valued at $84,736,000 after buying an additional 394,927 shares during the period. 98.56% of the stock is owned by hedge funds and other institutional investors.
AvalonBay Communities Company Profile
AvalonBay Communities, Inc is a real estate investment trust (REIT). The Company is focused on the development, redevelopment, acquisition, ownership and operation of multifamily communities primarily in New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California.
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