Zacks: Analysts Expect AvalonBay Communities Inc (AVB) to Post $2.31 EPS

Equities research analysts predict that AvalonBay Communities Inc (NYSE:AVB) will post $2.31 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for AvalonBay Communities’ earnings, with the lowest EPS estimate coming in at $2.28 and the highest estimate coming in at $2.33. AvalonBay Communities posted earnings per share of $2.25 in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.7%. The company is expected to report its next earnings report on Wednesday, January 30th.

According to Zacks, analysts expect that AvalonBay Communities will report full year earnings of $8.99 per share for the current fiscal year, with EPS estimates ranging from $8.94 to $9.03. For the next financial year, analysts forecast that the business will report earnings of $9.30 per share, with EPS estimates ranging from $9.17 to $9.38. Zacks’ earnings per share calculations are an average based on a survey of analysts that that provide coverage for AvalonBay Communities.

AvalonBay Communities (NYSE:AVB) last announced its quarterly earnings results on Monday, October 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.87). The business had revenue of $575.98 million for the quarter, compared to analyst estimates of $573.87 million. AvalonBay Communities had a net margin of 36.54% and a return on equity of 7.96%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share.

A number of brokerages have weighed in on AVB. Evercore ISI set a $194.00 price target on shares of AvalonBay Communities and gave the company a “buy” rating in a research report on Monday, October 1st. Stifel Nicolaus lifted their price target on shares of AvalonBay Communities from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. ValuEngine raised shares of AvalonBay Communities from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Scotiabank began coverage on shares of AvalonBay Communities in a research report on Tuesday, October 16th. They set a “sector perform” rating on the stock. Finally, Argus lifted their price target on shares of AvalonBay Communities to $196.00 and gave the company a “buy” rating in a research report on Wednesday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. AvalonBay Communities currently has a consensus rating of “Hold” and an average price target of $193.24.

Shares of AVB stock opened at $182.21 on Friday. The company has a market cap of $24.90 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.72 and a beta of 0.38. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.04 and a current ratio of 0.77. AvalonBay Communities has a fifty-two week low of $152.65 and a fifty-two week high of $188.91.

The company also recently disclosed 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 3.23%. AvalonBay Communities’s dividend payout ratio is currently 68.21%.

In related news, COO Sean J. Breslin sold 7,200 shares of AvalonBay Communities stock in a transaction on Friday, August 24th. The shares were sold at an average price of $182.20, for a total value of $1,311,840.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kevin P. O’shea sold 1,500 shares of AvalonBay Communities stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $179.51, for a total transaction of $269,265.00. The disclosure for this sale can be found here. Company insiders own 0.43% of the company’s stock.

Several large investors have recently modified their holdings of AVB. Adviser Investments LLC bought a new stake in shares of AvalonBay Communities in the second quarter worth $124,000. IFP Advisors Inc increased its stake in shares of AvalonBay Communities by 627.2% in 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 during the last quarter. Zions Bancorporation bought a new stake in shares of AvalonBay Communities in the third quarter worth $158,000. HRT Financial LLC bought a new stake in shares of AvalonBay Communities in the second quarter worth $201,000. Finally, Commerce Bank bought a new stake in shares of AvalonBay Communities in the third quarter worth $204,000. Institutional investors and hedge funds own 93.49% of the company’s stock.

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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