Jefferies Group Analysts Decrease Earnings Estimates for AvalonBay Communities, Inc. (AVB)

AvalonBay Communities, Inc. (NYSE:AVB) – Equities researchers at Jefferies Group dropped their FY2018 EPS estimates for shares of AvalonBay Communities in a research note issued on Tuesday. Jefferies Group analyst O. Okusanya now forecasts that the real estate investment trust will post earnings per share of $9.16 for the year, down from their prior estimate of $9.22.

AvalonBay Communities (NYSE:AVB) last released its quarterly earnings results on Monday, October 30th. The real estate investment trust reported $1.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.17 by ($0.45). AvalonBay Communities had a net margin of 41.55% and a return on equity of 8.66%. The business had revenue of $550.50 million during the quarter, compared to analyst estimates of $539.69 million. During the same quarter last year, the company posted $2.11 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis.

A number of other equities research analysts also recently issued reports on AVB. Robert W. Baird reiterated a “buy” rating and set a $187.00 price objective on shares of AvalonBay Communities in a research note on Tuesday, January 9th. UBS Group upgraded shares of AvalonBay Communities from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $190.00 to $206.00 in a research note on Thursday, November 9th. Stifel Nicolaus reiterated a “buy” rating and set a $209.00 price objective on shares of AvalonBay Communities in a research note on Wednesday, October 4th. Mizuho reiterated a “buy” rating and set a $220.00 price objective on shares of AvalonBay Communities in a research note on Monday, November 6th. Finally, Zacks Investment Research upgraded shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $200.40.

AvalonBay Communities (AVB) traded up $0.88 during mid-day trading on Thursday, hitting $169.91. 540,200 shares of the company traded hands, compared to its average volume of 553,518. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.10 and a quick ratio of 0.10. AvalonBay Communities has a fifty-two week low of $167.51 and a fifty-two week high of $199.52. The firm has a market capitalization of $23,341.00, a P/E ratio of 26.55, a PEG ratio of 2.51 and a beta of 0.35.

Institutional investors and hedge funds have recently bought and sold shares of the company. Amica Retiree Medical Trust acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $132,000. WFG Advisors LP boosted its stake in shares of AvalonBay Communities by 24.9% in the 2nd quarter. WFG Advisors LP now owns 839 shares of the real estate investment trust’s stock valued at $161,000 after purchasing an additional 167 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of AvalonBay Communities in the 2nd quarter valued at approximately $226,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $227,000. Finally, Lincoln National Corp acquired a new stake in shares of AvalonBay Communities in the 3rd quarter valued at approximately $239,000. Institutional investors own 94.86% of the company’s stock.

In other news, CEO Timothy J. Naughton sold 25,160 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $183.84, for a total value of $4,625,414.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Leo S. Horey III sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $182.75, for a total transaction of $365,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,660 shares of company stock worth $5,628,669. 0.46% of the stock is currently owned by corporate insiders.

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were paid a $1.42 dividend. The ex-dividend date was Thursday, December 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.34%. AvalonBay Communities’s payout ratio is currently 88.75%.

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About AvalonBay Communities

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.

Earnings History and Estimates for AvalonBay Communities (NYSE:AVB)

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