AvalonBay Communities, Inc. (NYSE:AVB) to Release Quarterly Earnings on Wednesday
AvalonBay Communities, Inc. (NYSE:AVB) is scheduled to announce its earnings results after the market closes on Wednesday, August 2nd. Analysts expect AvalonBay Communities to post earnings of $1.17 per share for the quarter.
AvalonBay Communities (NYSE:AVB) last posted its quarterly earnings data on Wednesday, April 26th. The real estate investment trust reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.11 by $0.02. The firm 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 firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.97 earnings per share. On average, analysts expect AvalonBay Communities to post $5.11 EPS for the current fiscal year and $4.80 EPS for the next fiscal year.
AvalonBay Communities, Inc. (NYSE:AVB) opened at 187.84 on Wednesday. AvalonBay Communities, Inc. has a 52-week low of $158.32 and a 52-week high of $199.52. The stock’s 50 day moving average price is $192.43 and its 200 day moving average price is $185.71. The firm has a market capitalization of $25.81 billion, a PE ratio of 25.03 and a beta of 0.34.
The company also recently announced 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 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Wednesday, June 28th. AvalonBay Communities’s payout ratio is 75.63%.
A number of analysts recently commented on AVB shares. Argus started coverage on AvalonBay Communities in a research report on Thursday, June 22nd. They issued a “buy” rating and a $220.00 target price for the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $203.00 target price on shares of AvalonBay Communities in a research report on Sunday, July 16th. BTIG Research boosted their target price on AvalonBay Communities from $191.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, April 24th. Barclays PLC boosted their target price on AvalonBay Communities from $188.00 to $189.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 18th. Finally, BidaskClub lowered AvalonBay Communities from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $193.58.
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In other news, insider William M. Mclaughlin sold 5,112 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $193.88, for a total value of $991,114.56. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Keri A. Shea sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $192.36, for a total value of $192,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,336 shares of company stock valued at $8,123,261 over the last three months. Corporate insiders own 0.53% of the company’s stock.
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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